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Revlon, Inc.

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2019 Vault Rankings

About Revlon, Inc.

Revlon has the look of a leader in the US mass-market cosmetics business, alongside L'Oréal's Maybelline and Procter & Gamble's Cover Girl. Aside from its Almay and Revlon brands of makeup and beauty tools, the company makes Revlon ColorSilk hair color, Mitchum antiperspirants and deodorants, Charlie and Jean Naté fragrances, and Natural Honey and Gatineau skincare products. It also owns Elizabeth Arden, a maker of prestige fragrance brands. Revlon's beauty aids are distributed in more than 150 countries, with more than half of its revenue generated outside the US. Revlon products are primarily sold by mass merchandisers and drugstores such as CVS, Target, Shoppers Drug Mart, A.S. Watson, Boots, and Wal-Mart. Charles Revson founded Revlon in 1931.

Operations

Revlon operates across four segments: Revlon (40% of net sales), Portfolio (over20%), Fragrances (about 20%), and Elizabeth Arden (nearly 20%).

The Revlon segment primarily sells to the mass retail channel, e-commerce sites, and specialty stores in the US and internationally. Its offerings includes the company's flagship Revlon brands, including Revlon in color cosmetics; Revlon ColorSilk and Revlon Professional in hair color; and Revlon in beauty tools.

The Portfolio segment includes Almay and SinfulColors in color cosmetics; American Crew in men's grooming products; CND in nail polishes, gel nail color and nail enhancements; Cutex nail care products; Pure Ice in nail polishes; and Mitchum in anti-perspirant deodorants. The segment's brands also included Crème of Nature (hair care), Natural Honey (body care), and Llongueras (hair color).

The Fragrances segment includes the Juicy Couture, Britney Spears, Elizabeth Taylor, Christina Aguilera, Giorgio Beverly Hills, Ed Hardy, Charlie, Lucky Brand, Jennifer Aniston, Mariah Carey, Halston, Geoffrey Beene, AllSaints and Wildfox brands, among others. 

Elizabeth Arden distributes and sells fragrances, skin care, and color cosmetics to prestige retailers with a portfolio of brands that includes Skin Illuminating, SUPERSTART, Prevage, Eight Hour Cream, and Elizabeth Arden Ceramide.

Revlon generates about a third of its total revenue from color cosmetics. Other major product lines include fragrance (more than 25%), hair care (more than 20%), skin care (some 10%), and beauty care (nearly 10%).

Geographic Reach

The US is Revlon's largest market, accounting for nearly half of its sales. North America (including the US) accounts for nearly 55% of total revenue; the Europe, Middle East, and Africa region generates about 30%; Asia, about 10%; and the Latin America and Pacific regions, about 5%, each.

The cosmetics maker also has operations in more than a dozen foreign countries and has a global reach and leading positions in several product categories in Australia, Spain, Italy, Mexico, Canada, the UK, and South Africa

Sales and Marketing

Revlon uses a dedicated sales force in countries where the company maintains operations. It also uses sales representatives and independent distributors to serve certain territories and retailers.

The beauty giant's products are sold through large volume retailers, chain drug and food stores, hypermarkets, general merchandise stores, the Internet/e-commerce, television shopping, department stores, one-stop shopping beauty retailers, specialty cosmetics stores, and perfumeries.

Revlon also uses social media as well as point-of-sale merchandising, including displays and samples, coupons, and other trial incentives to reach its customers. The company coordinates its marketing and advertising campaigns with in-store promotional and other marketing activities.

Financial Performance

Revlon has seen lackluster revenue growth in recent years in a competitive cosmetics market. Its annual revenues have risen close to 34% since 2014 driven in part by major acquisitions.

Revenue fell to $2.5 billion in 2018, an approximately 5% decrease from the year prior. The decrease was driven by lower sales in its Revlon, Fragrances, and Portfolio segments.  

Net loss was $294.2 million in fiscal year 2018, larger than the $183.2 million loss in fiscal year 2017. Selling, general and administrative expenses grew slightly in fiscal 2018 to $1.4 billion.  

Cash used by operating activities was $170.8 million in fiscal 2018, while investing activities used $57.2 million. Financing activities provided $233.1 million.

Strategy

Revlon is looking to new areas for growth amid continued weakness in the North American mass market makeup category. 

The company is facing increased competition from established makeup companies such as Estee Lauder as well as upstart direct-to-consumer companies that have harnessed the power social media to rapidly gain customers. Revlon has fallen behind with the rise of influencer marketing, which is one of the best ways to reach younger consumers, and is still playing catch up with developing a modern marketing approach.  

Revlon has seen a sales decrease in its Fragrances category, which is tied to the expiration of several key designer and celebrity brand licenses. Major disruptions from a new ERP system rolled out in 2018 have caused problems for the company at its manufacturing facility in Oxford, N.C.

One bright spot for the company has been its growing Elizabeth Arden subsidiary. Its sales have been boosted by e-commerce, travel retail, skin care, and commerce in China.

Debbie Perelman, a longtime Revlon company executive, became Revlon's CEO and president in 2018. Her promotion keeps the business in the family - her father is billionaire Ronald O. Perelman, the company's chairman. 

Company Background

In 1932, brothers Charles and Joseph Revson and business partner Charles Lachman formed Revlon and introduced a revolutionary nail enamel.

Revlon, Inc.

1 NEW YORK PLZ
New York, NY 10004-1961
Phone: 1 (212) 527-4000

Stats

Employer Type: Publicly Owned
Stock Symbol: REV
Stock Exchange: , NYSE
Vice Chairman: E. Scott Beattie
President, CEO, and Director: Fabian T. Garcia
Chairman: Ronald O. Perelman
Employees (This Location): 277
Employees (All Locations): 7,300

Major Office Locations

New York, NY

Other Locations

Phoenix, AZ
Tempe, AZ
Vista, CA
Stamford, CT
Ellenton, FL
Fort Lauderdale, FL
Jacksonville, FL
Miami, FL
Pembroke Pines, FL
Aurora, IL
Deerfield, IL
Geneva, IL
Lombard, IL
Naperville, IL
Schaumburg, IL
Vernon Hills, IL
Wrentham, MA
Baltimore, MD
Saint Paul, MN
Oxford, NC
Atlantic City, NJ
Edison, NJ
Central Valley, NY
Huntington Station, NY
New York, NY
Cypress, TX
Plano, TX
Texas City, TX
Arlington, VA
Reston, VA
Richmond, VA
Roanoke, VA
Salem, VA
Bologna, Italy
Osaka, Japan
Maesteg, Wales
Côte Saint-Luc, Canada
Argenteuil, France
Bezons, France
Billingstad, Norway
Bruxelles, Belgium