 | |
| Company type | Private |
|---|---|
| Industry | Cosmetics,skin care,perfumes andpersonal care |
| Founded | March 1, 1932; 93 years ago (1932-03-01) inNew York City |
| Founders | Joseph Revson Charles Revson Charles Lachman |
| Headquarters | 1 New York Plaza, New York City |
Key people | Ronald Perelman (Chairman) Michelle Peluso (CEO) |
| Revenue |  US$2.078 Billion (Fiscal Year Ended December 31, 2021)[1] |
| US$0.103 Billion (Fiscal Year Ended December 31, 2021)[1] | |
 US$0.206 Billion (Fiscal Year Ended December 31, 2021)[1] | |
| Total assets | US$2.432 Billion (Fiscal Year Ended December 31, 2021)[1] |
| Total equity | US$2.014 Billion (Fiscal Year Ended December 31, 2021)[1] |
| Owner | MacAndrews & Forbes (84.7%)[2] |
Number of employees | approx. 5,800 (Fiscal Year Ended December 31, 2021)[1] |
| Website | revlon.com |
Revlon, Inc., is an Americanmultinational company dealing incosmetics,skin care,perfume, andpersonal care. The headquarters of Revlon was established in New York City on March 1, 1932, where it remains. Revlon was founded by brothers Charles and Joseph Revson, and chemist Charles Lachman. Revlon products are sold in 150 countries and the company has many global locations includingMexico City,London,Paris,Hong Kong,Indonesia,Sydney,Singapore, andTokyo.
In June 2022, Revlon filed forChapter 11 bankruptcy.[3] It emerged from bankruptcy in May 2023.
Revlon was founded inNew York City on March 1, 1932, in the midst of theGreat Depression, by Jewish American brothersCharles Revson and Joseph Revson along with a chemist, Charles Lachman, who contributed the "L" in the Revlon name.[4] The three men started with one single product, a new type ofnail enamel[4] and pooled their resources to develop a uniquemanufacturing process. Usingpigments instead ofdyes, Revlon developed a variety of new shades of nail enamel.[4] In 1937, Revlon started selling the polishes indepartment stores andpharmacies. In six years, the company became a multimillion-dollar organization. By 1940, Revlon offered an entiremanicure line and addedlipstick to the collection. DuringWorld War II, Revlon createdmakeup and related products for theUnited States Army, which was honored in 1944 with theArmy-Navy "E" Award for Excellence.[citation needed]
By the end of World War II, Revlon was the number two cosmetics producer in the United States.[5] Expanding its capabilities, the company boughtGraef & Schmidt, acutlery manufacturer seized by the government in 1943 because of German business ties. This acquisition made it possible for Revlon to produce its own manicure and pedicure instruments instead of buying them from outside supply sources.[citation needed]
On February 28, 1996, Revlon was listed on theNew York Stock Exchange as a public limited company.[6] TheIPO price was $24 per share.[6]
 | This sectiondoes notcite anysources. Please helpimprove this section byadding citations to reliable sources. Unsourced material may be challenged andremoved.(June 2022) (Learn how and when to remove this message) |
In the 1960s, Revson segmented Revlon Inc. into different divisions, each focusing on a different market. He borrowed this strategy fromGeneral Motors. Each division had its own target customer:[7]
 | This sectioncontainspromotional content. Please helpimprove it by removingpromotional language and inappropriateexternal links, and by adding encyclopedic text written from aneutral point of view.(July 2020) (Learn how and when to remove this message) |
| This sectionneeds additional citations forverification. Please helpimprove this article byadding citations to reliable sources in this section. Unsourced material may be challenged and removed. Find sources: "Revlon" – news ·newspapers ·books ·scholar ·JSTOR(June 2022) (Learn how and when to remove this message) |
In 1957, Revlon acquiredKnomark, a shoe-polish company, and sold its shoe-polish lineEsquire Shoe Polish in 1969. Other acquisitions, such asTy-D-Bol, the maker of toilet cleansers, and a 27 percent interest in the Schick electric shaver company, were soon discarded. Evan Picone, a women's sportswear manufacturer with a price tag of $12 million in 1962, was sold back to one of the original partners four years later for $1 million. However, the 1967 acquisition of the U.S. Vitamin and Pharmaceutical Corporation made Revlon a leader indiabetes drugs.
The company began to market its products overseas at the end of the 1950s. By 1962, when Revlon debuted in Japan, there were subsidiaries in France, Italy, Argentina, Mexico, and Asia. In Japan Revlon used its basic U.S. advertising and models instead of adapting its advertisements and using Japanese models. Sales for 1962 came to $164 million.
In 1968, Revlon introduced Eterna27, the first cosmetic cream with anestrogen precursor calledProgenitin (pregnenolone acetate). Later Revlon launchedBraggiPub,Bill Blass for men, and a line of wig maintenance products called Wig Wonder.[7][8] In 1970, Revlon acquired theMitchum line of deodorants.[9] In 1971, Flex shampoo and conditioner were introduced. In 1973, Revlon introducedCharlie perfume. It was aimed at people under 30 and promoted by modelShelley Hack who was wearing trousers in the advertisements.[citation needed] Shelley Hack appeared onOprah in 2007 to talk about the power of the Charlie advertisements.[10]
After the introduction of Charlie, Revlon's net sales figures were $506 million in 1973 and $606 million the following year.
Jontue perfume also sold well.[clarification needed] Revlon also owns the perfume brand Jean Nate.[11]
In 1973, modelLauren Hutton signed an exclusive modeling contract, agreeing to pose for Revlon's Ultima line for $400,000 for two years, and was portrayed on the cover ofNewsweek.[12]Richard Avedon was signed on as the exclusive photographer for the brand.[13]
In 1975, Charles Revson died.Michel Bergerac, whom Revson had hired as president of the company, continued to expand the company holdings. Revlon acquired Coburn Optical Industries, an Oklahoma-based ophthalmic and optical processing equipment and supplies manufacturer. Barnes-Hind, the largest U.S. marketer of hard contact lens solutions, was bought in 1976 and strengthened Revlon's share of the eye-care market. Revlon purchasedArmour Pharmaceutical Company, a division ofArmour and Company, fromThe Greyhound Corporation in 1977. Other acquisitions included the Lewis-Howe Company, makers ofTums antacid in 1978. These health-care operations helped sales figures surpass the $1 billion mark in 1977, bringing total sales to $1.7 billion in 1979.
In the mid-1980s, Revlon lost ground toEstée Lauder, and Armour Pharmaceutical's haemophilia product "Factorate" infected many people worldwide withHIV andhepatitis C.[14][15] Estee Lauder spent millions of dollars on numerous magazine ads featuring Czech supermodelPaulina Porizkova, shot by famed Chicago fashion photographerVictor Skrebneski. Revlon's share dropped from 20 percent to 10 percent of department store cosmetics sales. Sales at the drugstore also declined as Revlon lost shares to Noxell'sCover Girl brand. Revlon compensated with more acquisitions;Max Factor, Ellen Betrix,Charles of the Ritz,Germaine Monteil,Almay, Fermodyl, Lancaster, Aziza, andHalston. The 1977 acquisition ofCarlos Colomer, a Spanish professional beauty supply distributor, broughtFermodyl andRoux and helped introduce Revlon to the world of ethnic care:Creme of Nature,Realistic,Lovely Color andMilk and Honey. In 1983 the company attempted an unsuccessfulhostile takeover ofGillette. In 1989, Revlon became one of the first companies to replace animal tests with alternative safety testing methods.[16]
On November 5, 1985, at a price of $58 per share, totaling $2.7 billion, Revlon was sold toPantry Pride (later renamed to Revlon Group, Inc.), a subsidiary ofRonald Perelman'sMacAndrews & Forbes. The buyout—engineered with the help of junk bond kingMichael P. Milken—saddled Revlon with a huge $2.9 billion debt load, which became an albatross around the company's neck for years to come. Pantry Pride Inc. offered to buy any or all of Revlon's 38.2 million outstanding shares for $47.5 a share when its street price stood at $45 a share. Initially rejected, he repeatedly raised his offer until it reached $53 a share while fighting Revlon's management every step of the way.Forstmann Little & Company swooped in at $56 a share, a brief public bidding war ensued, and Perelman triumphed with an offer of $58 a share. Perelman paid $1.8 billion to Revlon's shareholders, but he also paid $900 million of other costs associated with the purchase.[17] Perelman filed suit in theDelaware Court of Chancery to force Revlon to accept Perelman's offer, and the resulting appellate decision,Revlon v. MacAndrews & Forbes Holdings, was a landmark case in determining the obligations of public company directors in hostile takeover situations under Delaware law.
Perelman had Revlon sell four divisions: two for $1 billion, the vision care division for $574 million, and the National Health Laboratories division which became a publicly owned corporation in 1988. Additional make-up lines were purchased for Revlon:Max Factor in 1987 and Betrix in 1989, later sold toProcter & Gamble in 1991.[18] Also in 1991, Revlon sold theClean & Clear brand toJohnson & Johnson.
2013
2014
2015
2016
2017
2018
2019
2020
2021
2024
On June 16, 2022, Revlon filed forChapter 11 bankruptcy protection after struggling with debt, rising competition, supply chain challenges, and falling behind evolving beauty standards.[36][37] A few hours after the bankruptcy announcement, Revlon's shares lost more than 13% of their value.[38] According to a filing with the U.S. Bankruptcy Court for theSouthern District of New York, Revlon listed assets and liabilities between $1 billion and $10 billion. Revlon which had been managed by Perelman's daughter Debra Perelman since mid-2018, had long-term debt of $3.31 billion as of March 31, 2022.[39] The company narrowly avoided bankruptcy in 2020 after restructuring its debt.[40] It was one of the last remaining holdings of Ronald Perelman.[41]Bloomberg News reported that the company's bankruptcy process could be "complicated by financial controversies."[42]MarketWatch quoted industry analysts and commentators as saying that bankruptcy would allow the firm a chance to refresh and regroup as it attempts to compete with newer brands, likeKylie Cosmetics orFenty.[43]CNBC reported that Revlon's bankruptcy might be the start of broader bankruptcy problems for the retail sector.[44] It was delisted from theNYSE on October 21, 2022.[45] In December 2022, Revlon announced plans to raise $650 million in equity and transferring majority of the ownership to senior leaders. The company also announced plans to wipe out the interests ofRonald Perelman by striking an agreement with creditors to give lenders and bondholders ownership of the bankrupt cosmetics maker.[46][47]
In February 2023, Revlon reached a lender settlement that would allow the company to exit from bankruptcy by April.[48]
Until the 1940s, Revlon's magazineads were drawn by hand and mostly in black and white. In 1945, Revlon began launching full-color photographic advertisements in major magazines and stores across the country. Revlon introduced matching nail polish and lipsticks with exotic and unique names. These ads were taken by the top fashion photographers of the day includingRichard Avedon,Cecil Beaton, andJohn Rawlings. Some of these ads were for "Paint the Town Pink" and 1945's "Fatal Apple" withDorian Leigh. In 1947, Revlon introduced "Bachelor's Carnation" and in 1948, "Sweet Talk".[citation needed]
In 1950, Revlon introduced a red lipstick and nail enamel called "Where's the Fire?", and later used "Fire and Ice" ads. One of the world's first supermodels,Dorian Leigh, starred in some of Revlon's most memorable advertisements of all time. In 1946, Dorian was covered in purple flowers and wrapped in a pale purple sheet for "Ultra Violet." In 1947, Dorian appeared in "Fashion Plate." In 1953, at the age of 36, she appeared in "Cherries in the Snow." Later that year she appeared in the legendary "Fire and Ice" ad shot by Richard Avedon. Originally, Dorian appeared in a tight, silver-beaded dress with an enormous red wrap. Her black hair had a silver swirl in it and she had her hands, with long red nails, positioned in front of her breasts. Charles Revson rejected Avedon's original ad as "too sexual."[49] They re-shot the ad, this time with her open hand in front of one hip, the other in front of her cheek. The advertisement became and advertising legend because of the full-page quiz next to the sensual ad. Almost 50 years later, in November 2010, Revlon re-created 1953's "Fire and Ice" magazine ad with actressJessica Biel, and announced that they were issuing a limited-edition Fire and Ice lipstick and nail color, calling this campaign, "lips and tips."
Dorian Leigh's 15-years-younger red-headed sister,Suzy Parker, also shot numerous Revlon magazine ads in the 1950s. Suzy andCharles Revson, who wanted to marry Dorian at some point, despised each other. At one point, he refused to hire Suzy anymore because she complained about the "peanut" paycheck she received from Revlon.Richard Avedon, however, after photographing other models for a particular Revlon ad, would call in Suzy at the last minute, sometimes late at night, to do re-takes with him. This happened with "Stormy Pink," an ad Suzy shot very late at night with a wild white horse in the ocean. Avedon would then tell Revson that it was not Suzy in the ad, but a model named "Bubbles" or another made-up name.[50]
In 1970, Revlon became the first American cosmetics company to feature an African American model, iconNaomi Sims, in their advertising.[51] In the late 1970s, Revlon also made history when it created their line of cosmetics, specifically for women of color, called "The Polished Ambers Collection" and selected fashion model iconIman to be featured in the advertising campaigns. Revlon was also noted for featuring models of a wide age range in the 1980s, including 13-year-oldMilla Jovovich and 60-year-oldAudrey Hepburn.[52] Despite the successful campaigns of the 1980s and 1990s featuring models, in particularCindy Crawford, Revlon decided to drop fashion models and focus on movie stars, among themKate 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 andBond girls.[53] In 2009, Australian supermodelElle Macpherson became one of along line of spokesmodels for the company. American actressJessica Biel modeled for the brand, first shown in advertisements in January 2010.[54]
In 2008, celebrity makeup artistGucci Westman was hired as Revlon's Global Artistic Director, representing the company at runway shows and brand events and designing collections.[55] In 2017,Gwen Stefani became the global ambassador of the cosmetic brand.[56] In 2020, Korean-American singer, actress and fashion designerJessica Jung was announced as the new global ambassador for the company.[57] In 2023, the digital artist Nailea Devora became the new Revlon Global Brand Ambassador.[58] In January 2024,Madelyn Cline became Revlon's Global Brand Ambassador.[59][60][61]
Revlon is a corporate sponsor of several charity projects. The largest of these is theRevlon Run Walk, founded in 1994, in partnership with theEntertainment Industry Foundation.[62] It is a run and walk event held in New York and Los Angeles to raise money and awareness forbreast andovarian cancer, which has raised and distributed more than $70 million to women's cancer research and support programs since its inception. Revlon also supports other cancer charities such as Look Good Feel Better and theNational Breast Cancer Coalition and operates a mobilemammography clinic in and around Oxford, North Carolina, where the company's primary manufacturing operations are located.[63] In 1996, Revlon supported the development of a breast center at theUniversity of California, Los Angeles. RenamedRevlon/UCLA Breast Center, the center is a well-known institute for treatment and research of breast cancer and other breast diseases and disorders.[64] A Revlon lip gloss shade whose proceeds support Revlon's cancer charities was also created in 2009.[citation needed]
In September 2010, Revlon, with global artistic directorGucci Westman and spokesmodelHalle Berry hosted an event at Fashion's Night Out in New York City to raise funds for the Jenesse Center, a Los Angeles organization fordomestic violence victims.[65] Revlon also hosted luncheons and various other events to benefit the center and partnered with then-online retailerdrugstore.com to donate portions of lipstick sales to the organization.[66]
In September 2015, Revlon donated $1 million through its LOVE IS ON million-dollar challenge dedicated to women's cancer, heart disease, and diabetes.[67] In 2016, hosted its second LOVE IS ON million-dollar challenge to raise for women's health-related causes.[68][69]
In 2018, the company launched an Employee Volunteer Program (EVP) which was created to provide each full time U.S. employee with eight hours of time to engage in community service.[70]
In the 1950s, Revlon sponsored the TV Quiz ShowThe $64,000 Question, an alliance that tripled cometic sales. Charles Revson allegedly pressured producers to coaching popular contestants that boosted publicity for Revlon's ads. Suspicion rose afterJoyce Brothers won by answering boxing questions, though she was not implicated in cheating. Congressional hearings in 1958 revealed widespread rigging across networks, prompting cancellations and leading to the1960 Communications Act's ban on fixing broadcast contests.[71][72]
From 1977 to 1986, Armour Pharmaceutical, a company owned by Revlon, manufactured plasma-based treatments forhemophilia. During this time, thousands of patients worldwide were infected with HIV and hepatitis C after using the products.[73][74]
Revlon and other cosmetics companies were sued after a U.S. government study linked chemical hair relaxers to higher risks ofuterine cancer. Thousands of women, many of them Black consumers, alleged that manufacturers failed to warn them about potential dangers despite long-term marketing toward communities of color. In 2024, a federal judge allowed aclass action to proceed for reimbursement claims, while separate lawsuits accuse the companies of negligence, defective design, and inadequate safety warnings.[75][76][77]
{{cite web}}: CS1 maint: numeric names: authors list (link)Revlon Inc. | ||
|---|---|---|
| Current brands | | |
| Defunct brands | ||
| Former brands, under new ownership | ||
| Shows |  | ||||
|---|---|---|---|---|---|
| Producers | |||||
| Contestants | |||||
| Pop culture and advertisers |
| ||||
| Other key figures | |||||
| Officials | |||||
| International | |
|---|---|
| National | |
| Academics | |
| Other | |
