Revlon

Revlon Inc has filed for bankruptcy after the U.S cosmetics firm buckled under debts it built up in efforts to compete with online-focused upstarts.

But the company's sales lagged over the years and in 2021 fell 22% from its 2017 levels. Resulting product shortages were another major factor in tipping it into bankruptcy and analysts have said they were unlikely to be resolved in the near-term. Register now for FREE unlimited access to Reuters.com

Revlon, the 90-year-old multinational beauty company, has filed for Chapter 11 bankruptcy protection in the US, weighed down by debt load, disruptions to its ...

Perelman also said the company was learning from celebrity launches such as Kylie to be more nimble. The beauty company said in March that logistical issues hurt its ability to meet customer orders. In 1970, Revlon became the first beauty company to feature a black model, Naomi Sims, in its advertising. The company hit many milestones in its heyday. In the latest quarter that ended in March, sales rose nearly 8%. The company avoided bankruptcy in late 2020 by persuading enough bondholders to extend its maturing debt. Revlon also faced increasing competition not only from the likes of Procter & Gamble, but most recently from celebrity lines including Kylie Jenner-backed Kylie, which don’t have to invest a lot in marketing because of their social media following.

Revlon Inc. filed for Chapter 11 bankruptcy as the global supply chain crunch proved the tipping point for the debt-laden company that has struggled to tap ...

Revlon Inc. filed for Chapter 11 bankruptcy as the global supply chain crunch proved the tipping point for the debt-laden company that has struggled to tap into a broader cosmetics sales boom driven by social-media influencers.

US cosmetics group majority-owned by billionaire Ron Perelman vows to 'unlock the full potential' of its brands after debt overhaul.

Revlon built a cosmetics empire on red nail polish, with lipstick to match. But the pioneering brand, a mainstay of cosmetic cabinets since the Great ...

High inflation, rising interest rates and warnings of a recession have made shoppers more wary of opening their wallets. The social media superstars have promoted their products directly to their millions of Instagram followers, embracing inclusive color palettes and sidestepping the drugstores Revlon has traditionally relied on to sell its products. But the pioneering brand, a mainstay of cosmetic cabinets since the Great Depression, has lost its shine, amid the rise of a new generation of cosmetic brands, changing shopping habits and supply chain snarls. The company’s stretched balance sheet “has limited our ability to navigate macroeconomic issues in order to meet this demand,” she said. Managing its debt load has also created problems beyond the company. The company has about 5,700 employees.

The international beauty company, which sells products in more than 150 countries, has struggled with heavy debt. It listed $3.7 billion in total debts in a ...

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NEW YORK (AP) — Revlon, the 90-year-old multinational beauty company, has filed for Chapter 11 bankruptcy protection, weighed down by debt load, ...

Perelman, in an interview with The Associated Press late last year before global supply chains locked up, said she was optimistic about the future. It now holds the 22nd spot among cosmetics makers, according to a recent ranking by fashion trade journal WWD. In the latest quarter that ended in March, sales rose nearly 8%, but still lag pre-pandemic levels in excess of $2.4 billion a year. Revlon went public in 1996. None of Revlon’s international operating subsidiaries are included in the proceedings, except for Canada and the United Kingdom. The filing was made in the U.S. Bankruptcy Court for the Southern District of New York, The global supply chain disruptions that are hobbling hundreds of international companies in recent months were too much for Revlon, which barely escaped bankruptcy in late 2020 by persuading bondholders to extend its maturing debt.

Revlon, the 90-year-old multinational beauty company, has filed for Chapter 11 bankruptcy protection, weighed down by debt load, disruptions to its supply ...

Perelman also said that the company was learning from celebrity launches like Kylie to be more nimble. The beauty company said in March that logistical issues hurt its ability to meet customer orders. The company hit many milestones in its heyday. In the latest quarter that ended in March, sales rose nearly 8%. The company avoided bankruptcy in late 2020 by persuading enough bondholders to extend its maturing debt. During an interview with The Associated Press last fall, Perelman said she was optimistic about the future. Revlon also faced increasing competition not only from the likes of Procter & Gamble, but most recently from celebrity lines like Kylie Jenner-backed Kylie, which don’t have to invest a lot in marketing because of their massive social media following.

Revlon expects to receive $575 million in debtor-in-possession financing, providing liquidity to support day-to-day operations. “Today's filing will allow ...

“By addressing these complex legacy debt constraints, we expect to be able to simplify our capital structure and significantly reduce our debt, enabling us to unlock the full potential of our globally recognized brands,” Perelman said. “Consumer demand for our products remains strong – people love our brands, and we continue to have a healthy market position. “Today’s filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth,” said Debra Perelman, Revlon's president and chief executive officer.