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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 Skin Illuminating 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 1932.

Operations

Revlon operates across four segments: Revlon (40% of net sales), Portfolio (around 20%), Fragrances (about 20%), and Elizabeth Arden (around 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), 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 White Diamonds 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 (about 25%), hair care (around 20%), skin care (more than 5%), and beauty care (about 15%).

Geographic Reach

The US is Revlon's largest market, accounting for nearly half of its sales 50% of total revenue; the Europe, Middle East, and Africa region generates more than 25%; Asia, more than 10%; and the Latin America and Pacific regions, about 5%, each.

The cosmetics maker also has operations in about 25 foreign countries and has a global reach and leading positions in several product categories in Australia, Canada, Eastern Europe (such as Russia), Mexico, South Africa and South America (such as Argentina).

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.

Consolidated net sales in 2019 were $2.4 billion, a $144.9 million decrease, or 6%, compared to $2.6 billion in 2018. The XFX net sales decrease in 2019 was primarily due to: a $62.8 million, or 11%, decrease in Portfolio segment net sales, a $52.1 million, or 10%, decrease in Fragrances segment net sales and a $17.5 million, or 2%, decrease in Revlon segment net sales; partially offset by a $43.2 million, or 9%, increase in Elizabeth Arden segment net sales.

Consolidated loss from continuing operations, net of taxes, in 2019 was $165.2 million, compared to consolidated loss from continuing operations, net of taxes, of $294.1 million in 2018. The $128.9 million decrease in consolidated loss from continuing operations, net of taxes, in 2019 was primarily due to $143.9 million of lower SG&A expenses, primarily driven by lower brand support expenses as a result of planned lower activity in 2019 and lower general and administrative expenses, primarily driven by cost reductions related to the Company's cost optimization initiatives and lower incentive compensation.

Cash used by operating activities was $68.3 million in fiscal 2019, while investing activities provided $2.1 million. Financing activities provided $84.3 million. The company cash in the end of 2019 was $104.5 million, a $17 million increase from 2018 with $87.5 million.

Strategy

The company remains focused on its three key strategic pillars to drive its future success and growth. First, strengthening its iconic brands through innovation and relevant product portfolios; second, building its capabilities to better communicate and connect with its consumer through media channels where they spend most time; and third, ensuring availability of its products where consumers shop, both in-store and increasingly online.

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 FL 49
New York, NY 10004-1961
Phone: 1 (212) 527-4000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: REV
Stock Exchange: , NYSE
Vice Chairman: E. Scott Beattie
Chairman: Ronald O. Perelman
President, Revlon: Anne Talley
Employees (This Location): 277
Employees (All Locations): 7,100

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