Revlon – Wikipedia

American-based multinational private care firm

Revlon, Inc.
Kind Public
NYSE: REV
Business Cosmetics, skincare, fragrances and private care
Based March 1, 1932; 88 years in the past (1932-03-01) in New York Metropolis
Founders Joseph Revson
Charles Revson
Charles Lachman
Headquarters
1 New York Plaza, Wall Road, Monetary District, Manhattan, New York Metropolis, New York 10004, United States
Revlon, One Astor Plaza, 1515 Broadway, Instances Sq., Manhattan, New York Metropolis, New York 10036, United States

Key individuals

Ronald Perelman
(Chairman)
Debra Perelman
(President and CEO)
Income Increase $2.334 billion (2016)[1]
Decrease $0.138 billion (2016)[2]
Decrease $-0.022 billion (2016)[2]
Whole property Increase $3.024 billion (2016)[1]
Whole fairness Decrease $-0.615 billion (2016)[1]
Proprietor MacAndrews & Forbes (84.7%)[3]

Variety of staff

5,700 (2016)[4]
Web site www.revlon.com

Revlon, Inc. (NYSE: REV) is an American multinational cosmetics, skincare, perfume, and private care firm. Headquartered in New York Metropolis, Revlon was established on March 1, 1932, and is listed on the New York Inventory Alternate.

Historical past[edit]

Founding and Charles Revson management (1932–1975)[edit]

Revlon was based in New York Metropolis on March 1, 1932 within the midst of the Nice Melancholy, by Jewish American brothers Charles Revson and Joseph Revson together with a chemist, Charles Lachman, who contributed the “L” within the Revlon title.[5] They began with a single product, a brand new sort of nail enamel[5] — the three founders pooled their sources and developed a novel manufacturing course of. Utilizing pigments as an alternative of dyes, Revlon developed quite a lot of new shades of nail enamel.[5] In 1937, Revlon began promoting the polishes in department shops and pharmacies. In six years, the corporate turned a multimillion-dollar group. By 1940, Revlon supplied a complete manicure line, and added lipstick to the gathering. Throughout World Struggle II, Revlon created make-up and associated merchandise for america Military, which was honored in 1944 with the Military-Navy “E” Award for Excellence.[citation needed]

By the top of World Struggle II, Revlon was the quantity two cosmetics producer in america.[6] Increasing its capabilities, the corporate purchased Graef & Schmidt, a cutlery producer seized by the federal government in 1943 due to German enterprise ties. This acquisition made it potential for Revlon to supply its personal manicure and pedicure devices, as an alternative of shopping for them from exterior provide sources.[citation needed]

Inventory market[edit]

On February 28, 1996, Revlon was listed on New York Inventory Alternate as public.[7] The IPO value was $24 per share.[7]

Divisions[edit]

Within the 1960s, Revson segmented Revlon Inc into completely different divisions, every specializing in a distinct market. He borrowed this technique from Normal Motors. Every division had its personal goal buyer:

Acquisitions[edit]

In 1957, Revlon acquired Knomark, a shoe-polish firm, and offered its shoe-polish line Esquire Shoe Polish in 1969. Different acquisitions, comparable to Ty-D-Bol, the maker of bathroom cleansers, and a 27 p.c curiosity within the Schick electrical shaver firm had been quickly discarded. Evan Picone, a ladies’s sportswear producer which got here with a price ticket of $12 million in 1962, was offered again to one of many authentic companions 4 years later for $1 million. Nevertheless, the 1967 acquisition of U.S. Vitamin and Pharmaceutical Company made Revlon a pacesetter in diabetes medicine.

The corporate started to market its merchandise abroad on the finish of the 1950s. By 1962, when Revlon debuted in Japan, there have been subsidiaries in France, Italy, Argentina, Mexico, and Asia. Revlon’s entrance into the Japanese market was typical of its worldwide gross sales technique. As an alternative of adapting its advertisements and utilizing Japanese fashions, Revlon selected to make use of its fundamental U.S. promoting and fashions. Japanese ladies liked the American look, and the gross sales for 1962 got here to nearly $164 million.

In 1968, Revlon launched Eterna27, the primary beauty cream with an estrogen precursor known as Progenitin (pregnenolone acetate), in addition to introducing the world’s first American designer perfume, Norman Norell. Later, Revlon launched Braggi and Pub for males, and a line of wig upkeep merchandise known as Wig Marvel.

In 1970, Revlon acquired the Mitchum line of deodorants. In 1971 Flex shampoo and conditioner was launched.

In 1973, Revlon launched Charlie. Geared to the under-30 market, Charlie mannequin Shelley Hack in Ralph Lauren garments, personified the unbiased lady of the 1970s. This was the primary fragrance advert to characteristic a lady carrying pants. Charlie raised Revlon’s web gross sales figures to $506 million for 1973 and nearly $606 million the next yr. Shelley Hack appeared on Oprah in 2007 to speak in regards to the energy of those Charlie print and business advertisements. Their follow-up perfume, Jontue, turned the quantity two finest vendor.

Revlon additionally owns well-known fragrance model Jean Nate.[8]

Fashions[edit]

In 1973, mannequin Lauren Hutton signed an unique modeling contract, agreeing to pose for Revlon’s Ultima line for $400,000 for 2 years. She was featured on the duvet of Newsweek for this ground-breaking cosmetics contract.[9] Moreover, famed photographer Richard Avedon was signed on because the unique photographer for the model – one other cosmetics business first.[10]

Michel Bergerac management (1975–1985)[edit]

In 1975, Charles Revson died. Michel Bergerac, whom Revson had employed as President of the corporate, continued to increase the corporate holdings. Revlon acquired Coburn Optical Industries, an Oklahoma-based producer of ophthalmic and optical processing gear and provides. Barnes-Hind, the biggest U.S. marketer of onerous contact lens options, was purchased in 1976 and strengthened Revlon’s share of the eye-care market. Revlon bought Armour Pharmaceutical Firm, a division of Armour and Firm, from The Greyhound Company in 1977. Different acquisitions included the Lewis-Howe Firm, makers of Tums antacid in 1978. These health-care operations helped gross sales figures to go the $1 billion mark in 1977, bringing complete gross sales to $1.7 billion in 1979.

Within the mid-1980s, Revlon misplaced floor to Estée Lauder. Estee Lauder spent thousands and thousands of {dollars} on quite a few journal advertisements that includes Czech supermodel Paulina Porizkova, shot by famed Chicago style photographer Victor Skrebneski. Revlon’s share dropped from 20 p.c to 10 p.c of division retailer cosmetics gross sales. Gross sales on the drugstore additionally declined as Revlon misplaced shares to Noxell’s Cowl Woman model. Revlon compensated with extra acquisitions; Max Issue, Ellen Betrix, Charles of the Ritz, Germaine Monteil, Almay, Fermodyl, Lancaster, Aziza, and Halston. The 1977 acquisition of Carlos Colomer, a Spanish skilled magnificence provide distributor, introduced Fermodyl and Roux and helped introduce Revlon to the world of ethnic care: Creme of Nature, Sensible, Beautiful Coloration and Milk and Honey. In 1983 the corporate tried an unsuccessful hostile takeover of Gillette. In 1989, Revlon turned one of many first firms to interchange animal assessments with different security testing strategies.[11]

Ronald Perelman management (1985–current)[edit]

On November 5, 1985, at a value of $58 per share, totaling $2.7 billion, Revlon was offered to Pantry Delight (later renamed to Revlon Group, Inc.), a subsidiary of Ronald Perelman’s MacAndrews & Forbes. The buyout—engineered with the assistance of junk bond king Michael P. Milken—saddled Revlon with an enormous $2.9 billion debt load, which turned an albatross across the firm’s neck for years to come back. Pantry Delight Inc. supplied to purchase all or any of Revlon’s 38.2 million excellent shares for $47.5 a share when its avenue value stood at $45 a share. Initially rejected, he repeatedly raised his provide till it reached $53 a share whereas preventing Revlon’s administration each step of the way in which. Forstmann Little & Firm swooped in at $56 a share, a quick public bidding struggle ensued, and Perelman triumphed with a suggestion of $58 a share. Perelman paid $1.Eight billion to Revlon’s shareholders, however he additionally paid $900 million of different prices related to the acquisition.[12] Perelman filed swimsuit within the Delaware Courtroom of Chancery to pressure Revlon to simply accept Perelman’s provide, and the ensuing appellate determination, Revlon v. MacAndrews & Forbes Holdings, was a landmark case in figuring out the obligations of public firm administrators in hostile takeover conditions beneath Delaware legislation.

Perelman had Revlon promote 4 divisions: two for $1 billion, the imaginative and prescient care division for $574 million, and the Nationwide Well being Laboratories division which turned a publicly owned company in 1988. Extra make-up strains had been bought for Revlon: Max Think about 1987 and Betrix in 1989, later offered to Procter & Gamble in 1991.[13] Additionally in 1991, Revlon offered the Clear & Clear model to Johnson & Johnson.

In March 2011, Revlon acquired Mirage Cosmetics, makers of Sinful Colours nail merchandise.[14]

In 2011, PETA eliminated Revlon and different high-profile beauty manufacturers from its checklist of firms who don’t take a look at their merchandise on animals after the group discovered they had been paying Chinese language laboratories to check their cosmetics on rabbits and different animals.[citation needed]

In August 2013, Revlon Shopper Merchandise Corp. purchased the Colomer Group from CVC Capital Companions, a personal fairness agency, for $660 million.[15]

After struggling a enterprise loss in 2011 and 2012, on the finish of 2013, Revlon introduced that it’ll exit the Chinese language market, which employs 1,100 individuals. The enterprise in China accounted for only a 2 p.c portion of the online gross sales of Revlon’s worldwide operations.[16]

On November 1, 2013, Revlon named Lorenzo Delpani as President and CEO.[17]

In March 2014, Revlon introduced leaving midtown and relocate headquarters to the highest the 2 flooring of One New York Plaza.[18]

On September 22, 2014, Revlon’s board of administrators elected Roberto Simon as government vice chairman and chief monetary officer, efficient as of Sept. 30.[19]

On April 30, 2015, Revlon accomplished the acquisition of U.Ok. primarily based perfume administration firm CBBeauty together with its U.Ok. distributor SAS & Firm.[20]

On June 16, 2016, Revlon introduced to buy its competitor Elizabeth Arden, Inc. for $870 million.[21] The acquisition was accomplished on September 7, 2016.[22]

The corporate introduced on January 29, 2017 that CEO Fabian Garcia would depart the corporate on the finish of February. Board member, Paul Meister, would develop into government vice chairman of the board and run the day-to-day operations. A quarterly report from the top of 2017 estimated its quarterly loss falling roughly between $60 million and $80 million.[23]

In Might 2018, the corporate introduced the appointment of Debra Perelman, the daughter of Ronald Perelman, to the place of chief government officer. She would be the first-ever feminine CEO of the corporate after serving as COO beginning in January 2018 and serving on the board since 2015.[24]

In January 2019, Looking for Alpha[25] revealed an article relating to buying and selling anomalies on the Revlon inventory (REV); it’s beneath investigation.

In August 2020, American financial institution Citi wrongly wired $900 million to collectors of Revlon. The wire sparked a “protracted authorized battle”. In October, the identical yr, the financial institution was fined $400 million by the US financial institution regulators because of their danger in management techniques and was ordered to replace their expertise.[26]

Promoting[edit]

Tram with Revlon promoting in Hong Kong, June 2007

Up till the 1940s, Revlon’s journal advertisements had been drawn by hand and principally in black and white. Starting in 1945, Revlon started launching full-color photographic ads in main magazines and shops throughout the nation. Revlon launched matching nail polish and lipsticks with unique and distinctive names. These advertisements had been taken by the highest style photographers of the day together with Richard Avedon, Cecil Beaton, and John Rawlings. A few of these advertisements had been for “Paint the City Pink” and 1945’s “Deadly Apple” with Dorian Leigh. In 1947 Revlon launched “Bachelor’s Carnation” and in 1948, “Candy Discuss”.

In 1950, Revlon launched a purple lipstick and nail enamel known as “The place’s the Fireplace?” Revlon used the phrase “hearth” once more later of their “Fireplace and Ice” advertisements. One of many world’s first supermodels, Dorian Leigh, starred in a few of Revlon’s most memorable ads of all time. In 1946, Dorian was coated in purple flowers and wrapped in a pale purple sheet for “Extremely Violet.” In 1947, Dorian appeared in “Trend Plate.” In 1953, on the age of 36, she appeared in “Cherries within the Snow.” Later that yr she appeared within the legendary “Fireplace and Ice” advert shot by Richard Avedon. Initially, Dorian appeared in a good, silver-beaded gown with an unlimited purple wrap. Her black hair had a silver swirl in it and he or she had her palms, with lengthy purple nails, positioned in entrance of her breasts. Charles Revson rejected Avedon’s authentic advert as “too sexual.”[27] They re-shot the advert, this time along with her open hand in entrance of 1 hip, the opposite in entrance of her cheek. The commercial turned Madison Avenue legend due to the full-page quiz subsequent to the sensual advert. Virtually 50 years later, in November 2010, Revlon re-created 1953’s “Fireplace and Ice” journal advert, this time with actress Jessica Biel. With this advert, Revlon introduced they had been issuing a restricted version Fireplace and Ice lipstick and nail coloration calling this marketing campaign, “lips and ideas.”

Dorian Leigh’s 15-years-younger red-headed sister, Suzy Parker, additionally shot quite a few Revlon journal advertisements within the 1950s. Charles Revson, who needed to marry Dorian sooner or later, despised Suzy, and vice versa. At one level, he refused to rent her anymore as a result of Suzy complained in regards to the “peanut” paycheck she acquired from Revlon. Richard Avedon, nonetheless, after photographing different fashions for a selected Revlon advert, would name in Suzy final minute, typically late at evening, to do re-takes with him. This occurred with “Stormy Pink,” an advert Suzy shot very late at evening with a wild white horse within the ocean. Avedon would then inform Revson that it was not Suzy within the advert, however a mannequin named “Bubbles” or one other made-up title.[28]

In 1970, Revlon turned the primary American cosmetics firm to characteristic an African American mannequin, icon Naomi Sims, of their promoting.[29] Within the late 1970s, Revlon additionally made historical past when it created their line of cosmetics, particularly for girls of coloration, known as “The Polished Ambers Assortment” and chosen style mannequin icon, Iman, to be featured within the promoting campaigns. Revlon was additionally famous for that includes fashions of a large age vary within the 1980s, together with then 13-year-old Milla Jovovich after which 60-year-old Audrey Hepburn.[30] Regardless of the profitable campaigns of the 1980s and 1990s that includes fashions, specifically Cindy Crawford, Revlon determined to drop style fashions and deal with film stars, amongst them Kate Bosworth, Jaime King, Halle Berry, Susan Sarandon, Melanie Griffith, Julianne Moore, Eva Mendes, Jessica Alba, Jennifer Connelly, Beau Garrett, Jessica Biel, Olivia Wilde, Emma Stone and Bond ladies.[31] In 2009, Australian supermodel Elle Macpherson turned a brand new spokesmodel for the corporate. American actress Jessica Biel is the most recent lady to mannequin for the model, first proven in ads in January 2010.[32] (Important article: Record of Revlon spokesmodels)
In 2008, movie star make-up artist Gucci Westman was employed as Revlon’s World Inventive Director, representing the corporate at runway reveals and model occasions and designing collections.[33]
In 2020, Korean-American singer, actress and designer Jessica Jung was introduced as the brand new international ambassador for the corporate.[34]

Philanthropy[edit]

Revlon is a company sponsor of a number of charity tasks. The most important of those is the Revlon Run Stroll, based in 1994 in partnership with the Leisure Business Basis.[35] It’s a run and stroll occasion held in New York and Los Angeles to boost cash and consciousness for breast and ovarian most cancers, which raised and distributed greater than $70 million to ladies’s most cancers analysis and assist packages. Revlon additionally helps different most cancers charities comparable to Look Good Really feel Higher and the Nationwide Breast Most cancers Coalition and operates a cell mammography clinic in and round Oxford, North Carolina, the place the corporate’s main manufacturing operations are positioned.[36] In 1996, Revlon supported the event of a breast middle on the College of California, Los Angeles. Renamed Revlon/UCLA Breast Middle, the middle is a widely known institute for therapy and analysis of breast most cancers and different breast ailments and issues.[37] A Revlon lip gloss shade whose proceeds assist Revlon’s most cancers charities was additionally created in 2009.[citation needed]

In September 2010, Revlon, with international inventive director Gucci Westman and spokesmodel Halle Berry hosted an occasion at Trend’s Night time Out in New York Metropolis to boost funds for the Jenesse Middle, a Los Angeles group for home violence victims.[38] Revlon additionally hosted luncheons and varied different occasions to learn the middle and partnered with then-online retailer drugstore.com to donate parts of lipstick gross sales to the group.[39]

The corporate launched in 2018, an Worker Volunteer Program (EVP) which offers every full time U.S. worker with eight hours of time to have interaction in group service.[40]

See additionally[edit]

References[edit]

  1. ^ a b c “Monetary Statements for Revlon – Morningstar”. Morningstar.com. 2016-12-31. Retrieved 2017-03-08.
  2. ^ a b “Financials for Revlon”. Google Finance. 2016-12-31. Retrieved 2017-03-08.
  3. ^ Revlon Proxy
  4. ^ “Fortune 1000 web page for Revlon”. Fortune. 2016-12-31. Retrieved 2017-03-08.
  5. ^ a b c Kollewe, Julia (2016-06-17). “Revlon to purchase Elizabeth Arden”. The Guardian. ISSN 0261-3077. Retrieved 2019-08-29.
  6. ^ Geisst, Charles R.; Gargano, Ambassador Charles a (2014). Encyclopedia of American Enterprise Historical past. Infobase Publishing. p. 362. ISBN 978-1438109879.
  7. ^ a b Collins, Glenn (1996-02-29). “Revlon Public Providing Priced at $24 a Share”. The New York Instances. ISSN 0362-4331. Retrieved 2020-01-17.
  8. ^ https://www.fragrancex.com/merchandise/_cid_perfume-am-lid_j-am-pid_1434w__products.html
  9. ^ Mannequin, by Michael Gross, 1995, web page 212.
  10. ^ “Andrewtobias.com”. Andrewtobias.com. Retrieved 2011-04-06.
  11. ^ McGill, Douglas C. (August 2, 1989). “Cosmetics Firms Quietly Ending Animal Checks”. The New York Instances.
  12. ^ Stevenson, Richard (1985-11-05). “Pantry Delight Management of Revlon Board Seen Close to”. New York Instances. p. D5.
  13. ^ “MacAndrews & Forbes Holdings Inc”. Funding Universe. Retrieved 2008-05-16.
  14. ^ “Revlon Acquires Sinful Nail Model”. Girls’s Put on Every day. March 25, 2011.
  15. ^ Younger, Vicki M. “Revlon Acquires Colomer Group for $660 Million”. WWD. Retrieved 6 August 2013.
  16. ^ “Revlon to Exit Operations in China, Reduce 1,100 Jobs”. January 1, 2014.
  17. ^ “Revlon Names Lorenzo Delpani President, CEO”. October 31, 2013.
  18. ^ “Revlon says so lengthy to Midtown, hiya to One New York Plaza”. New York Submit. 2014-03-05. Retrieved 2017-11-28.
  19. ^ “Revlon Inc publicizes election of Roberto Simon as government vice chairman and chief monetary officer – Kind 8-Ok”. September 23, 2014.
  20. ^ “Revlon Completes Acquisition of CBBeauty and SAS & Firm”. BusinessWire. 2015-04-30. Retrieved 2017-10-31.
  21. ^ “Cosmetics maker Revlon to purchase Elizabeth Arden in $870 million deal”. Reuters. 2016-06-16. Retrieved 2017-10-31.
  22. ^ “Revlon Publicizes Completion of Elizabeth Arden Acquisition”. BusinessWire. 2016-09-07. Retrieved 2017-10-31.
  23. ^ “Revlon’s CEO departing amid anticipated steep losses”. USA TODAY. Retrieved 2018-01-30.
  24. ^ Employees Author (2018-05-23). “Revlon Simply Appointed a Girl CEO for the First Time Ever”. Fortune. Bloomberg Information. Retrieved 2018-05-24.
  25. ^ Pre IPO Swap (2019-01-25). “Raiders Of The Misplaced Company Ark – Revlon”. Looking for Alpha. Retrieved 2019-07-24.
  26. ^ Robert Armstrong (Eight October 2020). “Citigroup fined $400m over inner controls ‘deficiencies“. Monetary Instances. Retrieved Eight October 2020.
  27. ^ The Woman Who Had Every thing, The Story of ‘The Fireplace and Ice Woman,’ by Dorian Leigh and Laura Hobe, 1980, web page 88.
  28. ^ The Woman Who Had Every thing. The Story of the “Fireplace and Ice Woman,” Dorian Leigh and Laura Hobe, 1980, web page 89.
  29. ^ Inform Me Extra (2009-08-05). “Naomi Sims Confirmed The World That Black Is Stunning”. NPR. Retrieved 2011-04-06.
  30. ^ “The Official Milla Jovovich Web site :: Gallery – Revlon”. MillaJ.com. Retrieved 2011-04-06.
  31. ^ “Stylenews.peoplestylwatch.com”. Stylenews.peoplestylewatch.com. Retrieved 2011-04-06.
  32. ^ “Advertising and marketing Information”. HAPPI. Retrieved 2011-04-06.
  33. ^ “Revlon Faucets Gucci Westman – Magnificence Business and Merchandise Information”. WWD.com. Retrieved 2011-04-06.
  34. ^ Abelman, Devon (April 30, 2020). “Jessica Jung Shares How Her Method to Magnificence Has Modified Since Her Idol Days”. Attract. Retrieved September 24, 2020.
  35. ^ “Company Citizenship”. Revlon Inc.
  36. ^ “Revlon Cares”. Revlon.com. Retrieved 2011-04-06.
  37. ^ “About Us”. Revlon/UCLA Breast Middle.
  38. ^ “Revlon and Halle Berry Have fun Trend’s Night time Out New York”. Enterprise Wire. 2010-09-14. Retrieved 2011-04-06.
  39. ^ Thomas, Bobbie (2009-12-15). “Store for change! Prime presents that give again – Vacation Information – TODAY.com”. At present.msnbc.msn.com. Retrieved 2011-04-06.
  40. ^ “Company Citizenship”. www.revloninc.com. Retrieved 2020-03-16.

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