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American-based multinational personal intendance visitor

Revlon, Inc.

Type	Public
Traded equally	NYSE: REV
Industry	Cosmetics, skin care, fragrances and personal care
Founded	March 1, 1932; 90 years ago (1932-03-01) in New York City
Founders	Joseph Revson Charles Revson Charles Lachman
Headquarters	1 New York Plaza, Wall Street, Financial Commune, Manhattan, New York City, New York, United states 10004
Key people	Ronald Perelman (Chairman) Debra Perelman (President and CEO)
Revenue	$2.334 billion (2016)^[ane]
Operating income	$0.138 billion (2016)^[two]
Internet income	$-0.022 billion (2016)^[2]
Total assets	$3.024 billion (2016)^[i]
Full equity	$-0.615 billion (2016)^[1]
Owner	MacAndrews & Forbes (84.seven%)^[iii]
Number of employees	five,700 (2016)^[4]
Website	www.revlon.com

Revlon, Inc. is an American multinational cosmetics, skin care, fragrance, and personal care company. Revlon is headquartered in New York City and was established in New York City on March one, 1932. Revlon is listed on the New York Stock Exchange. Revlon is sold in 150 countries and has many global locations including Mexico City, London, Paris, Hong Kong, Sydney, Singapore, and Tokyo.

History [edit]

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

Revlon was founded in New York City on March ane, 1932 in the midst of the Slap-up Depression, by Jewish American brothers Charles Revson and Joseph Revson along with a chemist, Charles Lachman, who contributed the "50" in the Revlon name.^[5] They started with a single product, a new type of blast enamel^[v] — the three founders pooled their resources and adult a unique manufacturing process. Using pigments instead of dyes, Revlon developed a variety of new shades of boom enamel.^[5] In 1937, Revlon started selling the polishes in section stores and pharmacies. In six years, the visitor became a multimillion-dollar system. By 1940, Revlon offered an unabridged manicure line, and added lipstick to the collection. During World War Two, Revlon created makeup and related products for the United States Ground forces, which was honored in 1944 with the Army-Navy "E" Award for Excellence.^{[ commendation needed ]}

By the end of Earth War II, Revlon was the number two cosmetics producer in the Us.^[six] Expanding its capabilities, the company bought Graef & Schmidt, a cutlery manufacturer seized past the government in 1943 because of High german business ties. This conquering made information technology possible for Revlon to produce its own manicure and pedicure instruments, instead of ownership them from outside supply sources.^{[ citation needed ]}

Stock market [edit]

On Feb 28, 1996, Revlon was listed on New York Stock Exchange as public.^[7] The IPO price was $24 per share.^[7]

Divisions [edit]

In the 1960s, Revson segmented Revlon Inc into different divisions, each focusing on a dissimilar market. He borrowed this strategy from Full general Motors. Each partition had its ain target customer:

Revlon, the largest and most pop-priced brand
Elizabeth Arden, Inc., cosmetic skincare and fragrance
Ultima II, premium
Britney Spears Fragrance, fragrance

Acquisitions [edit]

In 1957, Revlon caused Knomark, a shoe-polish visitor, and sold its shoe-polish line Esquire Shoe Shine in 1969. Other acquisitions, such equally Ty-D-Bol, the maker of toilet cleansers, and a 27 pct interest in the Schick electric shaver company were presently discarded. Evan Picone, a women'south sportswear manufacturer which came with a price tag of $12 million in 1962, was sold dorsum to 1 of the original partners four years later for $1 million. However, the 1967 conquering of U.S. Vitamin and Pharmaceutical Corporation fabricated Revlon a leader in diabetes drugs.

The company began to marketplace its products overseas at the end of the 1950s. By 1962, when Revlon debuted in Nippon, in that location were subsidiaries in France, Italy, Argentina, Mexico, and Asia. Revlon's archway into the Japanese market place was typical of its international sales strategy. Instead of adapting its ads and using Japanese models, Revlon chose to use its basic U.South. advertising and models. Japanese women loved the American look, and the sales for 1962 came to near $164 million.

In 1968, Revlon introduced Eterna27, the first cosmetic cream with an estrogen precursor chosen Progenitin (pregnenolone acetate), too as introducing the world's first American manner designer fragrance, Norman Norell. Later, Revlon launched Braggi and Pub for men, and a line of wig maintenance products called Wig Wonder.

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

In 1973, Revlon introduced Charlie. Geared to the nether-30 market, Charlie model Shelley Hack in Ralph Lauren clothes, personified the contained woman of the 1970s. This was the first perfume advert to feature a woman wearing pants. Charlie raised Revlon's net sales figures to $506 million for 1973 and almost $606 one thousand thousand the following year. Shelley Hack appeared on Oprah in 2007 to talk nigh the power of these Charlie print and commercial ads. Their follow-up fragrance, Jontue, became the number ii best seller.

Revlon likewise owns well known perfume make Jean Nate.^[8]

Models [edit]

In 1973, model Lauren Hutton signed an exclusive modeling contract, agreeing to pose for Revlon's Ultima line for $400,000 for ii years. She was featured on the comprehend of Newsweek for this ground-breaking cosmetics contract.^[9] Additionally, famed photographer Richard Avedon was signed on equally the exclusive photographer for the make - another cosmetics manufacture outset.^[ten]

Michel Bergerac control (1975–1985) [edit]

In 1975, Charles Revson died. Michel Bergerac, whom Revson had hired as President of the company, continued to expand the visitor holdings. Revlon acquired Coburn Optical Industries, an Oklahoma-based manufacturer of ophthalmic and optical processing equipment and supplies. Barnes-Hind, the largest U.S. marketer of difficult contact lens solutions, was bought in 1976 and strengthened Revlon's share of the eye-intendance market. Revlon purchased Armour Pharmaceutical Company, a sectionalization of Armour and Company, from The Greyhound Corporation in 1977. Other acquisitions included the Lewis-Howe Visitor, makers of Tums antacid in 1978. These health-care operations helped sales figures to pass the $1 billion mark in 1977, bringing total sales to $ane.7 billion in 1979.

In the mid-1980s, Revlon lost basis to Estée Lauder and Armour's haemophilia product "Factorate" infected many people worldwide with HIV.^[11] Estee Lauder spent millions of dollars on numerous mag ads featuring Czech supermodel Paulina Porizkova, shot by famed Chicago manner photographer Victor Skrebneski. Revlon's share dropped from twenty percent to ten percent of department store cosmetics sales. Sales at the drugstore as well declined every bit Revlon lost shares to Noxell's Cover Girl make. Revlon compensated with more than acquisitions; Max Factor, Ellen Betrix, Charles of the Ritz, Germaine Monteil, Almay, Fermodyl, Lancaster, Aziza, and Halston. The 1977 conquering of Carlos Colomer, a Castilian professional dazzler supply distributor, brought Fermodyl and Roux and helped introduce Revlon to the world of ethnic care: Creme of Nature, Realistic, Lovely Colour and Milk and Honey. In 1983 the company attempted an unsuccessful hostile takeover of Gillette. In 1989, Revlon became one of the first companies to replace beast tests with culling safety testing methods.^[12]

Ronald Perelman command (1985–nowadays) [edit]

On November five, 1985, at a price of $58 per share, totaling $2.7 billion, Revlon was sold to Pantry Pride (later on renamed to Revlon Group, Inc.), a subsidiary of Ronald Perelman's MacAndrews & Forbes. The buyout—engineered with the aid of junk bond king Michael 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 one thousand thousand outstanding shares for $47.v a share when its street cost 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 behest state of war ensued, and Perelman triumphed with an offer of $58 a share. Perelman paid $one.8 billion to Revlon's shareholders, but he also paid $900 1000000 of other costs associated with the purchase.^[13] Perelman filed suit in the Delaware Court of Chancery to forcefulness Revlon to accept Perelman's offer, and the resulting appellate determination, 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: ii for $one billion, the vision intendance division for $574 meg, and the National Wellness Laboratories division which became a publicly endemic corporation in 1988. Additional make-upward lines were purchased for Revlon: Max Factor in 1987 and Betrix in 1989, afterwards sold to Procter & Chance in 1991.^[xiv] Also in 1991, Revlon sold the Clean & Articulate brand to Johnson & Johnson.

In March 2011, Revlon acquired Delusion Cosmetics, makers of Sinful Colors nail products.^[15]

In 2011, PETA removed Revlon and other loftier-profile cosmetic brands from its list of companies who practise not test their products on animals subsequently the system learned they were paying Chinese laboratories to exam their cosmetics on rabbits and other animals.^{[ citation needed ]}

In August 2013, Revlon Consumer Products Corp. bought the Colomer Grouping from CVC Capital Partners, a private equity house, for $660 million.^[xvi]

Later on suffering concern loss in 2011 and 2012, at the end of 2013, Revlon announced that it volition exit the Chinese market, which employs 1,100 people. The business in China accounted for merely 2 pct portion of net sales of Revlon's international operations.^[17]

On November one, 2013, Revlon named Lorenzo Delpani as President and CEO.^[eighteen]

In March 2014, Revlon announced leaving midtown and relocate headquarters to the elevation the two floors of One New York Plaza.^[19]

On September 22, 2014, Revlon's board of directors elected Roberto Simon as executive vice president and main fiscal officer, effective as of Sept. 30.^[xx]

On April 30, 2015, Revlon completed the acquisition of U.K. based fragrance direction visitor CBBeauty including its U.K. distributor SAS & Company.^[21]

On June 16, 2016, Revlon appear to purchase its competitor Elizabeth Arden, Inc. for $870 meg.^[22] The conquering was completed on September 7, 2016.^[23]

The company announced on January 29, 2017 that CEO Fabian Garcia would get out the company at the finish of February. Board member, Paul Meister, would become executive vice chairman of the board and run the solar day-to-day operations. A quarterly report from the terminate of 2017 estimated its quarterly loss falling approximately between $lx 1000000 and $fourscore million.^[24]

In May 2018, the company announced the appointment of Debra Perelman, the daughter of Ronald Perelman, to the position of chief executive officer. She will be the outset ever female person CEO of the company later serving equally COO starting in January 2018 and serving on the board since 2015.^[25]

In Jan 2019, Seeking Alpha ^[26] published an article regarding trading anomalies on the Revlon stock (REV); it is under investigation.

In August 2020, American bank Citi wrongly wired $900 million to creditors of Revlon. The wire sparked a "protracted legal fight". In October, the same twelvemonth, the bank was fined $400 million by the US bank regulators as a result of their risk in control systems and was ordered to update their technology.^[27]

On September 28th 2021, the UK's Infected Blood Inquiry will exist hearing evidence about Armour'south employ of haemophilia treatment products during the 1970s and 80s which caused Hepatitis C and HIV infections, including its catamenia under the control of Revlon Healthcare.^[28]

Advertising [edit]

Tram with Revlon advertisement in Hong Kong, June 2007

Up until the 1940s, Revlon's magazine ads were drawn past hand and mostly in black and white. First in 1945, Revlon began launching total-color photographic advertisements in major magazines and stores across the land. Revlon introduced matching blast shine and lipsticks with exotic and unique names. These ads were taken by the top fashion photographers of the mean solar day including Richard Avedon, Cecil Beaton, and John Rawlings. Some of these ads were for "Paint the Town Pink" and 1945's "Fatal Apple" with Dorian Leigh. In 1947 Revlon introduced "Bachelor'south Carnation" and in 1948, "Sweet Talk".

In 1950, Revlon introduced a cherry lipstick and nail enamel called "Where's the Fire?" Revlon used the word "burn down" once again afterward in their "Burn and Water 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 royal flowers and wrapped in a pale purple sheet for "Ultra Violet." In 1947, Dorian appeared in "Way Plate." In 1953, at the age of 36, she appeared in "Cherries in the Snowfall." Later that year she appeared in the legendary "Burn down and Water ice" ad shot by Richard Avedon. Originally, Dorian appeared in a tight, silvery-beaded dress with an enormous scarlet wrap. Her black pilus had a silver swirl in information technology and she had her hands, with long red nails, positioned in front end of her breasts. Charles Revson rejected Avedon'south original advertizing as "too sexual."^[29] They re-shot the advertising, this fourth dimension with her open paw in front of one hip, the other in front end of her cheek. The advertizement became Madison Avenue legend because of the total-page quiz next to the sensual ad. Almost l years later, in November 2010, Revlon re-created 1953'southward "Burn and Water ice" magazine ad, this fourth dimension with actress Jessica Biel. With this ad, Revlon appear they were issuing a limited edition Fire and Water ice lipstick and blast color calling this campaign, "lips and tips."

Dorian Leigh's 15-years-younger ruby-red-headed sister, Suzy Parker, likewise shot numerous Revlon magazine ads in the 1950s. Charles Revson, who wanted to ally Dorian at some indicate, despised Suzy, and vice versa. At ane point, he refused to hire her anymore because Suzy complained near the "peanut" paycheck she received from Revlon. Richard Avedon, notwithstanding, after photographing other models for a item Revlon ad, would call in Suzy concluding minute, sometimes late at night, to do re-takes with him. This happened with "Stormy Pink," an advert Suzy shot very belatedly at night with a wild white horse in the ocean. Avedon would then tell Revson that it was non Suzy in the ad, but a model named "Bubbles" or some other made-up name.^[30]

In 1970, Revlon became the first American cosmetics company to feature an African American model, icon Naomi Sims, in their advertising.^[31] In the belatedly 1970s, Revlon also made history when it created their line of cosmetics, specifically for women of color, called "The Polished Ambers Collection" and selected style model icon, Iman, to be featured in the advertising campaigns. Revlon was as well noted for featuring models of a wide age range in the 1980s, including and then 13-year-old Milla Jovovich and then 60-year-old Audrey Hepburn.^[32] Despite the successful campaigns of the 1980s and 1990s featuring models, in item Cindy Crawford, Revlon decided to drop mode models and focus on movie stars, among them Kate Bosworth, Jaime Male monarch, Halle Berry, Susan Sarandon, Melanie Griffith, Julianne Moore, Eva Mendes, Jessica Alba, Jennifer Connelly, Beau Garrett, Jessica Biel, Olivia Wilde, Emma Stone and Bond girls.^[33] In 2009, Australian supermodel Elle Macpherson became a new spokesmodel for the company. American actress Jessica Biel is the newest woman to model for the brand, first shown in advertisements in January 2010.^[34] (Main commodity: List of Revlon spokesmodels) In 2008, glory makeup artist Gucci Westman was hired every bit Revlon'southward Global Artistic Director, representing the company at rail shows and brand events and designing collections.^[35] In 2020, Korean-American singer, extra and fashion designer Jessica Jung was announced every bit the new global ambassador for the visitor.^[36]

Philanthropy [edit]

Revlon is a corporate sponsor of several clemency projects. The largest of these is the Revlon Run Walk, founded in 1994 in partnership with the Entertainment Industry Foundation.^[37] It is a run and walk result held in New York and Los Angeles to raise money and awareness for breast and ovarian cancer, which raised and distributed more than $lxx meg to women'south cancer enquiry and support programs. Revlon also supports other cancer charities such every bit Wait Practiced Experience Better and the National Chest Cancer Coalition and operates a mobile mammography dispensary in and around Oxford, Due north Carolina, where the visitor's chief manufacturing operations are located.^[38] In 1996, Revlon supported the development of a breast centre at the Academy of California, Los Angeles. Renamed Revlon/UCLA Chest Center, the center is a well-known plant for treatment and research of breast cancer and other breast diseases and disorders.^[39] A Revlon lip gloss shade whose proceeds support Revlon's cancer charities was also created in 2009.^{[ commendation needed ]}

In September 2010, Revlon, with global artistic director Gucci Westman and spokesmodel Halle Drupe hosted an event at Fashion'south Night Out in New York Urban center to raise funds for the Jenesse Eye, a Los Angeles arrangement for domestic violence victims.^[twoscore] Revlon likewise hosted luncheons and diverse other events to do good the center and partnered with and so-online retailer drugstore.com to donate portions of lipstick sales to the organization.^[41]

The company launched in 2018, an Employee Volunteer Program (EVP) which provides each full time U.S. employee with eight hours of time to appoint in customs service.^[42]

In September 2015, Revlon donated $1 1000000 through its Dear IS ON one thousand thousand-dollar challenge dedicated to women'south cancer, middle disease, and diabetes. ^[43]

See likewise [edit]

List of Revlon spokesmodels

References [edit]

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^ The Daughter Who Had Everything, The Story of 'The Burn down and Ice Girl,' by Dorian Leigh and Laura Hobe, 1980, page 88.
^ The Girl Who Had Everything. The Story of the "Fire and Ice Girl," Dorian Leigh and Laura Hobe, 1980, page 89.
^ Tell Me More than (2009-08-05). "Naomi Sims Showed The World That Blackness Is Beautiful". NPR. Retrieved 2011-04-06 .
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