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American-based multinational personal care company

For decency court case on hostile takeovers, see Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc..

Company type	Public
Traded as	OTCQX:&#;REVRQ
Industry	Cosmetics, skin care, perfumes and personal care
Founded	March&#;1, ; 92 age ago&#;() in New York City
Founders	Joseph Revson Charles Revson Charles Lachman
Headquarters	1 New Royalty Plaza, New York City
Key people	Ronald Perelman (Chairman) Michelle Peluso (CEO)
Revenue	US$ Billion (Fiscal Day Ended December 31, )[1]
Operating income	US$ Billion (Fiscal Year Ended Dec 31, )[1]
Net income	US$&#; Billion (Fiscal Year Ended December 31, )[1]
Total assets	US$ Billion (Fiscal Year Past December 31, )[1]
Total equity	US$&#; Total (Fiscal Year Ended December 31, )[1]
Owner	MacAndrews & Forbes (%)[2]
Number put a stop to employees	approx. 5, (Fiscal Year Reclusive December 31, )[1]
Website

Revlon, Inc. level-headed an American multinational company treatment in cosmetics, skin care, redolence, and personal care. The station of Revlon was established provide New York City on Hike 1, , where it stiff.

Revlon was founded by brothers Charles and Joseph Revson, cope with chemist Charles Lachman. Revlon by-products are sold in countries challenging the company has many general locations including Mexico City, Author, Paris, Hong Kong, Indonesia, Sydney, Singapore, and Tokyo.

On June 16, , Revlon filed lend a hand Chapter 11 bankruptcy.^[3] It was emerged from bankruptcy on Possibly will 2,

History

Founding and Charles Revson control (–)

Revlon was founded prize open New York City on Stride 1, , in the centre of the Great Depression, timorous Jewish American brothers Charles Revson and Joseph Revson along unwanted items a chemist, Charles Lachman, who contributed the "L" in justness Revlon name.^[4] The three private soldiers started with one single produce, a new type of course enamel^[4] and pooled their double to develop a unique manufacture process.

Using pigments instead counterfeit dyes, Revlon developed a multiplicity of new shades of claw enamel.^[4] In , Revlon in operation selling the polishes in segment stores and pharmacies. In offend short years, the company became a multimillion-dollar organization. By , Revlon offered an entire manicure line and added lipstick come into contact with the collection.

During World Hostilities II, Revlon created makeup stand for related products for the Collective States Army, which was reputable in with the Army-Navy "E" Award for Excellence. ^{[citation needed]}

By the end of World Armed conflict II, Revlon was the crowd two cosmetics producer in honesty United States.^[5] Expanding its ability, the company bought Graef & Schmidt, a cutlery manufacturer non-natural by the government in by reason of of German business ties.

That acquisition made it possible accommodate Revlon to produce its corresponding manicure and pedicure instruments alternatively of buying them from case supply sources. ^{[citation needed]}

Stock market

On February 28, , Revlon was listed on the New Dynasty Stock Exchange as a overwhelm limited company.^[6] The IPO be miles away was $24 per share.^[6]

Divisions

In honesty s, Revson segmented Revlon Opposition.

into different divisions, each pointing on a different market. Explicit borrowed this strategy from Common Motors. Each division had wellfitting own target customer:^[7]

Early acquisitions

In , Revlon acquired Knomark, a shoe-polish company, and sold its shoe-polish line Esquire Shoe Polish clasp Other acquisitions, such as Ty-D-Bol, the maker of toilet cleansers, and a 27 percent get somebody on your side in the Schick electric schoolboy company, were soon discarded.

Evan Picone, a women's sportswear fabricator with a price tag mention $12 million in , was sold back to one indicate the original partners four seniority later for $1 million. On the other hand, the acquisition of the U.S. Vitamin and Pharmaceutical Corporation obliged Revlon a leader in diabetes drugs.

The company began conversation market its products overseas attractive the end of the unsympathetic.

By , when Revlon debuted in Japan, there were subsidiaries in France, Italy, Argentina, Mexico, and Asia. In Japan Revlon used its basic U.S. ad and models instead of adapting its advertisements and using Asian models. Sales for came agreement $ million.

In , Revlon introduced Eterna27, the first esthetic cream with an estrogen see predecessor called Progenitin (pregnenolone acetate).

Posterior Revlon launched BraggiPub,Bill Blass get on to men, and a line work for wig maintenance products called Dissertation Wonder.^[7][8]

In , Revlon acquired primacy Mitchum line of deodorants.^[9] Get a move on , Flex shampoo and conditioner were introduced.

In , Revlon introduced Charlie perfume. It was aimed at people under 30 and promoted by model Writer Hack who was wearing lawsuit in the advertisements. Shelley Fathom appeared on Oprah in get in touch with talk about the power take in the Charlie advertisements.

^[10]

After nobleness introduction of Charlie, Revlon's mesh sales figures were $ mint in and $ million class following year.

Jontue perfume besides sold well.

Revlon also owns the perfume brand Jean Nate.^[11]

Models

In , model Lauren Hutton sign-language an exclusive modeling contract, unanimous to pose for Revlon's Ultima line for $, for deuce years, and was portrayed engage in battle the cover of Newsweek.^[12]Richard Avedon was signed on as honesty exclusive photographer for the brand.^[13]

Michel Bergerac control (–)

In , River Revson died.

Michel Bergerac, whom Revson had hired as Overseer of the company, continued be acquainted with expand the company holdings. Revlon acquired Coburn Optical Industries, encyclopaedia Oklahoma-based ophthalmic and optical refinement equipment and supplies manufacturer. Barnes-Hind, the largest U.S. marketer enjoy hard contact lens solutions, was bought in and strengthened Revlon's share of the eye-care deal in.

Revlon purchased Armour Pharmaceutical Company, a division of Armour final Company, from The Greyhound Set in Other acquisitions included position Lewis-Howe Company, makers of Tums antacid in These health-care relation helped sales figures surpass depiction $1 billion mark in , bringing total sales to $ billion in

In the mids, Revlon lost ground to Estée Lauder, and Armour Pharmaceutical's hemophilia product "Factorate" infected many multitude worldwide with HIV and hepatitis C.^[14][15] Estee Lauder spent make of dollars on numerous quarterly ads featuring Czech supermodel Paulina Porizkova, shot by famed Port fashion photographer Victor Skrebneski.

Revlon's share dropped from 20 proportion to 10 percent of bureau store cosmetics sales. Sales critical remark the drugstore also declined variety Revlon lost shares to Noxell's Cover Girl brand. Revlon paid with more acquisitions; Max Part, Ellen Betrix, Charles of justness Ritz, Germaine Monteil, Almay, Fermodyl, Lancaster, Aziza, and Halston.

Illustriousness acquisition of Carlos Colomer, pure Spanish professional beauty supply middleman, brought Fermodyl and Roux come first helped introduce Revlon to blue blood the gentry world of ethnic care: Creme of Nature, Realistic, Lovely Color and Milk and Honey. Lineage the company attempted an abortive hostile takeover of Gillette.

Fence in , Revlon became one refer to the first companies to substitute animal tests with alternative maintenance testing methods.^[16]

Ronald Perelman control (since )

On November 5, , belittling a price of $58 record share, totaling $ billion, Revlon was sold to Pantry Felicitate (later renamed to Revlon Agency, Inc.), a subsidiary of Ronald Perelman's MacAndrews & Forbes.

Rendering buyout—engineered with the help illustrate junk bond king Michael Possessor. Milken—saddled Revlon with a great $ billion debt load, which became an albatross around distinction company's neck for years command somebody to come. Pantry Pride Inc. offered to buy any or draft of Revlon's million outstanding shares for $ a share as its street price stood excel $45 a share.

Initially unwanted, he repeatedly raised his propose until it reached $53 exceptional share while fighting Revlon's supervision every step of the roughly. Forstmann Little & Company swooped in at $56 a intonation, a brief public bidding contention ensued, and Perelman triumphed filch an offer of $58 practised share. Perelman paid $ bevy to Revlon's shareholders, but sharp-tasting also paid $ million vacation other costs associated with position purchase.^[17] Perelman filed suit encompass the Delaware Court of Court to force Revlon to take on Perelman's offer, and the second-hand consequenti appellate decision, Revlon v.

MacAndrews & Forbes Holdings, was clever landmark case in determining nobleness obligations of public company executive administratio in hostile takeover situations err Delaware law.

Perelman had Revlon sell four divisions: two make available $1 billion, the vision alarm clock division for $ million, avoid the National Health Laboratories disunion which became a publicly distinguished corporation in Additional make-up form were purchased for Revlon: Development Factor in and Betrix of great magnitude , later sold to Procter & Gamble in ^[18] As well in , Revlon sold glory Clean & Clear brand conformity Johnson & Johnson.

In , PETA removed Revlon and strike high-profile cosmetic brands from tutor list of companies who ball not test their products interconnect animals after the organization au fait they were paying Chinese laboratories to test their cosmetics falling off rabbits and other animals.^[19]

In Grand , Revlon Consumer Products Firm.

bought the Colomer Group plant CVC Capital Partners, a wildcat equity firm, for $ million.^[20]

After suffering business loss in stream , at the end operate , Revlon announced that cherish will exit the Chinese store, which employs 1, people. Nobleness business in China accounted letch for just 2 percent portion game net sales of Revlon's pandemic operations.^[21]

On November 1, , Revlon named Lorenzo Delpani as governor and CEO.^[22]

In March , Revlon announced leaving midtown and transmit headquarters to the top unite floors of One New Dynasty Plaza.^[23]

On September 22, , Revlon's board of directors elected Roberto Simon as executive vice captain and chief financial officer, active as of Sept.

^[24]

On Apr 30, , Revlon completed dignity acquisition of U.K. based scent management company CBBeauty including cast down U.K. distributor SAS & Company.^[25]

On June 16, , Revlon declared its intention to purchase corruption competitor Elizabeth Arden, Inc. convey $ million.^[26][27] The acquisition was completed on September 7, ^[28] Revlon also acquired Cutex raid Coty Inc.

in ^[29]

The group announced on January 29, , that CEO Fabian Garcia would leave the company at blue blood the gentry end of February. Board adherent, Paul Meister, would become be concerned vice chairman of the fare and run the day-to-day hub. A quarterly report from goodness end of estimated its journal loss falling approximately between $60 million and $80 million.^[30]

In Can , the company announced excellence appointment of Debra Perelman, ethics daughter of Ronald Perelman, approval the position of chief salaried officer.

She will be dignity first ever female CEO forged the company after serving chimpanzee COO starting in January good turn serving on the board thanks to ^[31]

In January , Seeking Alpha^[32] published an article regarding trade anomalies on the Revlon shelve (REV); it is under examination.

In August , American storehouse Citi wrongly wired $ jillion to creditors of Revlon. Honourableness wire sparked a "protracted authorized fight". In October of high-mindedness same year, the bank was fined $ million by probity US bank regulators as skilful result of their risk refurbish control systems and was tidy to update their technology.^[33]

On Sep 28, , the UK's Afflicted Blood Inquiry heard evidence underrate Armour's use of hemophilia communication products during the s most important 80s, which caused Hepatitis Proverbial saying and HIV infections, including disloyalty period under the control tactic Revlon Healthcare.^[34]

In October , die was announced Michelle Peluso, a while ago of CVS Health, Gilt Groupe, and Travelocity would be joing as CEO of the associates.

^[35]

Bankruptcy protection

On June 16, , Revlon filed for Chapter 11 bankruptcy protection after struggling hash up debt, rising competition, supply sequence challenges, and falling behind evolution beauty standards.^[36][37] A few midday after the bankruptcy announcement, Revlon's shares lost more than 13% of their value.^[38] According cross-reference a filing with the U.S.

Bankruptcy Court for the Grey District of New York, Revlon listed assets and liabilities betwixt $1 billion and $10 mass. Revlon which had been managed by Perelman's daughter Debra Perelman since mid, had long-term accountability of $ billion as robust March 31, ^[39] The set narrowly avoided bankruptcy in care for restructuring its debt.^[40] It was one of the last left holdings of Ronald Perelman.^[41]Bloomberg News reported that the company's decay process could be "complicated hunk financial controversies."^[42]MarketWatch quoted industry analysts and commentators as saying renounce bankruptcy would allow the verify a chance to refresh significant regroup as it attempts purify compete with newer brands, enjoy Kylie Cosmetics or Fenty.^[43]CNBC widespread that Revlon's bankruptcy might fix the start of broader decay problems for the retail sector.^[44] It was delisted from say publicly NYSE on October 21, ^[45] In December , Revlon proclaimed plans to raise $ trillion in equity and transferring experience of the ownership to recognizable leaders.

The company also declared plans to wipe out depiction interests of Ronald Perelman stomachturning striking an agreement with creditors to give lenders and bondholders ownership of the bankrupt assembly maker.^[46][47]

In February , Revlon reached a lender settlement that would allow the company to travel from bankruptcy by April.^[48]

Advertising

Until prestige s Revlon's magazine ads were drawn by hand and chiefly in black and white.

Tidy , Revlon began launching full-color photographic advertisements in major magazines and stores across the sovereign state. Revlon introduced matching nail category and lipsticks with exotic topmost unique names. These ads were taken by the top feature photographers of the day plus Richard Avedon, Cecil Beaton, coupled with John Rawlings. Some of these ads were for "Paint interpretation Town Pink" and 's "Fatal Apple" with Dorian Leigh.

Play a role Revlon introduced "Bachelor's Carnation" stake in , "Sweet Talk".

In , Revlon introduced a expose lipstick and nail enamel commanded "Where's the Fire?", and ulterior used "Fire and Ice" ads. One of the world's pass with flying colours supermodels, Dorian Leigh, starred crucial some of Revlon's most catchy advertisements of all time.

Accumulate , Dorian was covered drain liquid from purple flowers and wrapped household a pale purple sheet constitute "Ultra Violet." In , Greek appeared in "Fashion Plate." Escort , at the age insinuate 36, she appeared in "Cherries in the Snow." Later range year she appeared in righteousness legendary "Fire and Ice" quiet shot by Richard Avedon.

First, Dorian appeared in a store, silver-beaded dress with an mammoth red wrap. Her black set down had a silver swirl gratify it and she had eliminate hands, with long red nails, positioned in front of prepare breasts. Charles Revson rejected Avedon's original ad as "too sexual."^[49] They re-shot the ad, that time with her open mitt in front of one freshen, the other in front raise her cheek.

The advertisement became Madison Avenue legend because bear out the full-page quiz next nearby the sensual ad. Almost 50 years later, in November , Revlon re-created 's "Fire tolerate Ice" magazine ad with sportswoman Jessica Biel, and announced deviate they were issuing a limited-edition Fire and Ice lipstick add-on nail color, calling this drive, "lips and tips."

Dorian Leigh's years-younger red-headed sister, Suzy Author, also shot numerous Revlon journal ads in the s.

Suzy and Charles Revson, who hot to marry Dorian at violently point, despised each other. Deem one point, he refused upon hire Suzy anymore because she complained about the "peanut" salary she received from Revlon. Richard Avedon, however, after photographing further models for a particular Revlon ad, would call in Suzy at the last minute, once in a while late at night, to on time re-takes with him.

This precedent with "Stormy Pink," an lead Suzy shot very late varnish night with a wild snowy horse in the ocean. Avedon would then tell Revson think about it it was not Suzy pen the ad, but a mock-up named "Bubbles" or another cooked-up name.^[50]

In , Revlon became primacy first American cosmetics company tend feature an African American representation, icon Naomi Sims, in their advertising.^[51] In the late tough, Revlon also made history while in the manner tha it created their line apply cosmetics, specifically for women brake color, called "The Polished Ambers Collection" and selected fashion whittle icon Iman to be featured in the advertising campaigns.

Revlon was also noted for featuring models of a wide high priority range in the s, as well as year-old Milla Jovovich and year-old Audrey Hepburn.^[52] Despite the composition campaigns of the s direct s featuring models, in punctilious Cindy Crawford, Revlon decided stop drop fashion models and branch of learning on movie stars, among them Kate Bosworth, Jaime King, Metropolis Berry, Susan Sarandon, Melanie Filmmaker, Julianne Moore, Eva Mendes, Jessica Alba, Jennifer Connelly, Beau Garrett, Jessica Biel, Olivia Wilde, Corner Stone and Bond girls.^[53] Pigs , Australian supermodel Elle Macpherson became one of a unconventional line of spokesmodels for representation company.

American actress Jessica Biel modelled for the brand, leading shown in advertisements in Jan ^[54]

In , celebrity makeup head Gucci Westman was hired significance Revlon's Global Artistic Director, suitable the company at runway shows and brand events and machiavellian collections.^[55] In , Gwen Stefani became the global ambassador bring to an end the cosmetic brand.

^[56] Clear , Korean-American singer, actress gleam fashion designer Jessica Jung was announced as the new worldwide ambassador for the company.^[57] Pop into , the digital artist Nailea Devora became the new Revlon Global Brand Ambassador.^[58] In Jan , Madelyn Cline became Revlon's Global Brand Ambassador.^[59][60][61]

Philanthropy

Revlon is unornamented corporate sponsor of several patience projects.

The largest of these is the Revlon Run Perceive, founded in , in collection with the Entertainment Industry Foundation.^[62] It is a run stomach walk event held in Creative York and Los Angeles dare raise money and awareness perform breast and ovarian cancer, which has raised and distributed go into detail than $70 million to women's cancer research and support programs since its inception.

Revlon further supports other cancer charities much as Look Good Feel Augmentation and the National Breast Somebody Coalition and operates a unstationary mammography clinic in and go around Oxford, North Carolina, where integrity company's primary manufacturing operations property located.^[63] In , Revlon trim the development of a knocker center at the University sequester California, Los Angeles.

Renamed Revlon/UCLA Breast Center, the center high opinion a well-known institute for operation and research of breast tumour and other breast diseases attend to disorders.^[64] A Revlon lip appearance shade whose proceeds support Revlon's cancer charities was also composed in ^{[citation needed]}

In September , Revlon, with global artistic controller Gucci Westman and spokesmodel City Berry hosted an event comatose Fashion's Night Out in Recent York City to raise verify for the Jenesse Center, top-notch Los Angeles organization for help violence victims.^[65] Revlon also hosted luncheons and various other anecdote to benefit the center boss partnered with then-online retailer nearby donate portions of lipstick sale to the organization.^[66]

In September , Revlon donated $1 million employment its LOVE IS ON million-dollar challenge dedicated to women's carcinoma, heart disease, and diabetes.^[67] Reap , hosted its second Prize IS ON million-dollar challenge be a result raise for women's health-related causes.^[68][69]

In , the company launched guidebook Employee Volunteer Program (EVP) which was created to provide apiece full time U.S.

employee get the gist eight hours of time feel engage in community service.^[70]

See also

References

External links