Revlon is #20 on our Top Global Beauty Companies 2023 Report.

Below is a look at the company’s 2023 highlights, recent acquisitions, best-selling brands and latest innovations.

Beauty Sales: $2 billion

Major Products/Brands:

• Revlon, Elizabeth Arden New York, Almay, American Crew
• CND, Cutex Care, Sinfulcolors, Mitchum
• Britney Spears Fragrances, Christina Aguilera Fragrances
• The Elizabeth Taylor Fragrance Collection
• John Varvatos, Juicy Couture
• Alfred Sung, Charlie, Crème of Nature
• Curve, d:fi, Ed Hardy, Giorgio
• Grey Flannel Geoffrey Beene
• Halston, Intercosmo, Jean Naté
• Lucky You, Orofluido

New Products

• Revlon ColorStay Suede Ink Lipstick
• Revlon ColorSilk Digitones Hair Color
• Revlon ColorStay Micro Easy Precision Liquid Liner
• Revlon ColorStay Micro Brow Pencil
• Elizabeth Arden New York Anti-Aging Eye Serum 2.0
• Elizabeth Arden New York Retinol Ceramide Line Erasing Eye Cream
• Elizabeth Arden New York Advanced Ceramide Lift and Firm Eye Cream
• American Crew Matte Clay
• American Crew Styling Pucks
• Almay Ageless collection

Financial Summary:
Revlon’s consolidated net sales in the year ended December 31, 2022, were $1,980.4 million, a $98.3 million decrease, or 4.7%, compared to $2,078.7 million in the prior year.

From completing its financial restructuring and emerging from bankruptcy to appointing a new CEO—the past year was full of major developments for the company.

2022/2023 Highlights

Earlier this year, Revlon hit a milestone—the company successfully completed its financial restructuring process and emerged from Chapter 11. With approximately $236 million of liquidity, funded through an equity-rights offering, a new money senior secured credit facility, and new asset-based loans, Revlon became a private company.

Through the restructuring process, Revlon significantly simplified its capital structure by eliminating more than $2.7 billion in debt from its balance sheet, leaving it with approximately $1.5 billion of debt outstanding. The majority of the company’s reorganized equity is now owned by its former lenders, including affiliates of Glendon Capital Management LP, King Street Capital Management, L.P., Angelo, Gordon & Co., among others.

In connection with its emergence from bankruptcy, Revlon formed a new board of directors for the reorganized company comprised of senior executives with strong knowledge of the global consumer, retail, and beauty industries, including: executive chair Elizabeth (Liz) A. Smith, former executive chairman and CEO of Bloomin’ Brands, Inc. and former chair of the Federal Reserve of Atlanta; Martin Brok, former global president and chief executive officer of Sephora; Timothy McLevish, former chief financial officer at Walgreens Boots Alliance, Inc.; Hans Melotte, former president of Starbucks’ Global Channel Development; and Paul Pressler, chairman of the board of directors of eBay, Inc.

In May 2023, Elizabeth Arden launched its first-ever immersive virtual store experience, created in partnership with experiential e-commerce platform Obsess.

The virtual store experience brings the company’s history to life through interactive content and images that tell the story of its inspirational female founder, her impact on the beauty industry and the brand’s evolution. The space features gallery-style art that visitors can “jump” into to immerse themselves in the historical scenes depicted in the artwork and photos.

In July 2023, Revlon announced that Debra Perelman will step down from her role as president and chief executive officer and as a member of the Board. In the meantime, Elizabeth (Liz) A. Smith has been appointed interim chief executive officer of the company, effective immediately, while Perelman will serve as an advisor to the company for a transition period. Perelman was appointed as Revlon’s first female president and chief executive officer in 2018.

She is the daughter of Ronald Perelman who controlled the group from 1985 until 2022, when Revlon struck an agreement with creditors to give lenders and bondholders ownership of the cosmetics maker and wipe out the interests of Perelman. What this means is, for the first time since 1985, there are no Perelmans in leadership positions at Revlon—marking the beginning of a new era for the group.

Looking Ahead

Interim CEO Elizabeth A. Smith calls this “an exciting time for Revlon, which is well positioned for its next phase of growth with a simplified capital structure and the support of new owners.”

Smith said, “I am energized by the engagement of our new Board, which is committed to the execution of the company’s business transformation. Along with the leadership team, I look forward to building an organization-wide culture of innovation and excellence, and to working with our retailer, supplier and distribution partners to reignite the momentum in our iconic brands.”

Beauty Sales: $2.1 billion

Major Products/Brands: Revlon, Elizabeth Arden, Almay, American Crew, CND, Cutex Care, SinfulColors, Mitchum, Britney Spears Fragrances, Christina Aguilera Fragrances, The Elizabeth Taylor Fragrance Collection, John Varvatos, Allsaints, Juicy Couture, Alfred Sung, Charlie, Crème of Nature, Curve, d:fi, Ed Hardy, Natural Honey, Wildfox, Halston.

New Products: ColorStay Satin Ink, ColorStay Skin Awaken 5-in-1 concealer, So Fierce! Eyes Wide Open Mascara, Revlon Professional Color Sublime, American Crew hair care line (relaunch), Prevage 2.0 Amti-Aging Daily Serum, Retinol Ceramide Line Erasing Eye Cream.

Financial Summary: According to Debra Perelman, Revlon’s president and CEO, “2021 was a year of recovery.” The year began with tremendous uncertainty, with much of the world facing winter surges in Covid-19, limited access to vaccines, and many cities, states and countries under some form of restrictions. By the end of the year, however, all of Revlon’s key brands had returned to growth.

In 2021, the core brands of Revlon and Elizabeth Arden both returned to growth. Revlon’s growth was driven by the brand’s Color Cosmetics business, particularly in the important U.S. Mass channel, as well as the Revlon Professional business in EMEA. Strong innovation in the market helped fuel the brand, with products such as ColorStay Satin Ink liquid lip color, which was also the No. 1 lip launch of 2021 in the U.S. Mass market, and Revlon Professional Color Sublime hair color, with its vegan formula and recycled packaging.

In the Elizabeth Arden brand, the company continues to bring innovation to the skincare category, with the launch of Prevage 2.0 Anti-Aging Daily Serum, as well as Retinol Ceramide Line Erasing Cream. Additionally, Elizabeth Arden fragrances performed extremely well, with all key brands growing double-digits, especially the ingredient-focused Green and White tea collections.

The professional brands of American Crew and CND also had a strong year, as salons reopened and the channel rebounded. Revlon relaunched its American Crew hair care line, upgrading the formulas to be vegan with naturally derived ingredients and packaging made from 80% recycled plastic. In CND, Revlon leaned into its heritage of being on the cutting-edge of fashion with its seasonal, trend-driven color collections.

Finally, the Fragrances segment grew double-digits in 2021, which helped maintain Revlon’s No. 1 position in the U.S. Mass Fragrance market. Part of this segment’s growth was driven by the key brands of Juicy Couture and John Varvatos, which both launched strong innovations during the year.

Following incredible growth in 2020, throughout 2021, Revlon continued to grow its e-commerce business while strengthening its digital capabilities and expanding its e-commerce presence.

In 2021 the company launched Elizabeth Arden DTC sites in Spain, France, Germany and Australia, continued to grow its B2B professional platform across EMEA, and worked closely with its retailer.com and pureplay partners across the globe.

2021/2022 Highlights:

Revlon launched its Revlon Global Growth Accelerator (or RGGA) Program in March 2021. This program was implemented to support the company’s growth ambitions and to build the foundation for Revlon’s future. RGGA consists of three key initiatives: strategic growth, operating efficiencies, and capability building. In its first year, RGGA delivered over $50 million of cost reductions.

Still, despite a return to growth in 2021, things were not all peachy in 2022. On June 16, Revlon filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The company claims that the Chapter 11 filing will allow Revlon to strategically reorganize its legacy capital structure and improve its long-term outlook, especially amid liquidity constraints brought on by continued global challenges, including supply chain disruption and rising inflation, as well as obligations to its lenders.

“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,” commented Debra Perelman at the time. “Consumer demand for our products remains strong—people love our brands, and we continue to have a healthy market position. But our challenging capital structure has limited our ability to navigate macro-economic issues in order to meet this demand.”

In July 2022, Revlon reportedly asked a judge to terminate office and retail leases at 200 Park Avenue South in New York in an attempt to save millions in rent. In court filings, Revlon’s restructuring officer, Robert Caruso, said the lease terminations could save the company $17 million in rent, adding that the rates on the leases are higher than those of “available alternatives.”

Also in July, Revlon partnered with Origin Materials, a carbon negative materials company, to develop advanced carbon negative materials for cosmetics. The partnership will enable the rapid development and commercialization of new sustainable materials for cosmetics packaging based on Origin’s patented technology platform.

In August 2022, Elizabeth Arden expanded its partnership with Ulta Beauty, launching in all Ulta stores in late August. Ulta’s in-store assortment at its new “Skincare We’re Loving Wall” now includes Elizabeth Arden’s best-selling SKUs. Moving forward, select stores will also have Elizabeth Arden skincare experts on the floor to enhance the shopping experience and educate customers on the various product offerings.

On August 9, Revlon announced that Victoria Dolan is retiring as the company’s chief financial officer (CFO). Dolan will remain with Revlon until September 30, 2022 to ensure a smooth transition of her responsibilities. Meanwhile, Matt Kvarda, managing director at Alvarez & Marsal, joined the company as interim CFO, effective October 1. Kvarda will report directly to Debra Perelman.

Looking Forward:

“As we enter 2022, while we expect some degree of uncertainty to persist driven in part by a new wave of Covid-19, rising global inflation, and conflict in Europe, we anticipate sustaining the momentum begun in 2021,” Perelman said at the end of 2021. However, the start of the year was rougher than anticipated.

As reported, net sales were $922.2 million in the second half of 2022, compared to $942.4 million during the prior-year period, a decrease of $20.2 million, or 2.1%.

Beauty Sales: $1.9 billion

Major Products/Brands: Revlon, Elizabeth Arden, Almay, American Crew, CND, Cutex Care, SinfulColors, Mitchum, Britney Spears Fragrances, Christina Aguilera Fragrances, The Elizabeth Taylor Fragrance Collection, John Varvatos, Allsaints, Juicy Couture, Alfred Sung, Charlie, Crème of Nature, Curve, d:fi, Ed Hardy, Natural Honey, Wildfox, Halston

New Products: Revlon SuperLustrous Glass Shine Lipstick, Elizabeth Arden Hyaluronic Acid Ceramide Capsules, Viva La Juicy Le Bubbly Eau de Parfum, Revlon So Fierce! Big Bad Lash Mascara, Elizabeth Arden Prevage Anti-Aging Serum 2.0., Mitchum Natural Power

Comments: According to Debra Perelman, Revlon’s president and CEO, “2020 was a year like no other,” as the company’s annual report detailed continued revenue slides across most of its business units.

Reported net sales were $1,904.3 million in 2020, compared to $2,419.6 million during the prior year, a decline of 21.3%. According to the company, the lower net sales were driven primarily by the negative impacts associated with the ongoing and prolonged Covid-19 pandemic.

Revlon segment net sales for the full year were $688.4 million, or a 28.2% decrease compared to the previous year. The decline was driven primarily by lower net sales of Revlon color cosmetics and, to a lower extent, lower net sales of Revlon-branded professional hair care products, primarily in international regions, as well as lower net sales of Revlon ColorSilk hair color, primarily in North America. This was partially offset by increased net sales of Revlon-branded beauty tools and Revlon hair care products, primarily in North America.

Elizabeth Arden segment net sales were $463.5 million, a 10.9% decrease. The decline was driven primarily by lower net sales of certain Elizabeth Arden-branded skin care products, as well as color cosmetics, and lower net sales of certain Elizabeth Arden-branded fragrances, due, primarily, to the continuing effects of the Covid-19 pandemic on foot traffic at department stores and other retail outlets, partially offset by higher net sales of Ceramide skin care products and, to a lower extent, by higher net sales of Green Tea fragrances.

Portfolio segment net sales for the year were $401.3 million, a 17.7% decrease. The decline was driven primarily by lower net sales of Almay color cosmetics, American Crew men’s grooming products, CND nail products, primarily in North America, as well as certain local and regional skin care product brands. This decrease was partially offset primarily by higher net sales of Creme of Nature products and of Cutex nail care products, as well as certain other local and regional product brands, primarily in North America.

Fragrance net sales were $351.1 million, a $101.9 million, or 22.5%, decrease, driven primarily by continuing impacts from the Covid-19 pandemic, especially in the prestige channel, resulting in decreased foot traffic and temporary door closures.

On a positive note, the declines across all of the segments were partially offset by approximately 40% higher e-commerce net sales versus the prior year, which represented approximately 16% of full-year 2020 net sales, versus approximately 9% in the prior year.

In November 2020, Revlon successfully satisfied creditors by paying off almost 70% of its outstanding debt. The company avoided entering Chapter 11 bankruptcy after successfully tendering $236 million of bondholders’ notes.

2021 Highlights: In January 2021 Revlon launched So Fierce! Big Bad Mascara with innovative lash tint technology. The creamy formula claims to glide on smoothly and leaves lashes feeling soft and flexible for “around-the-clock drama without clumping, smudging or flaking.”

Also, Elizabeth Arden unveiled Prevage Anti-Aging Serum 2.0, which the brand says helps visibly reverse aging signs and protect against environmental damage for younger-looking skin. The formula’s supercharged antioxidant Idebenone is boosted by 10 ingredients, such as Vitamins C and E, ginger extract, clary sage, peony petal extract, hibiscus seed and more.

In April, Revlon unveiled two new fragrances backed by strong female global brand ambassadors—Reign On, featuring Megan Thee Stallion and One Heart, featuring Sofia Carson. Both fragrances are marketed toward young woman who are “strong and independent.”

In August, Revlon appointed Thomas Cho as chief supply chain officer. In this position, Cho is responsible for Revlon’s end to end global supply chain operations, including supply chain strategy, planning, procurement, manufacturing, engineering, distribution and logistics for the company’s brand portfolio.

Looking Forward: Reported net sales were $497.4 million in the second quarter of 2021, compared to $347.6 million during the prior-year period, an increase of $149.8 million, or 43.1%. As the beauty sector recovered, all segments experienced double-digit net sales growth during the second quarter of 2021 versus the prior-year period.

Beauty Sales: $2.4 billion

Major Products/Brands:

• Revlon, Almay, SinfulColors and Pure Ice color cosmetics
• Revlon Colorsilk hair color, Revlon beauty tools, Mitchum antiperspirant and deodorants
• Ultima II and Gatineau skin care, Intercosmo, Orofluid
• American Crew and UniqOne hair care, CND nail polishes, Elizabeth Arden
• Elizabeth Arden, Red Door, Halston
• Elizabeth Taylor, Brittney Spears, Visible Difference
• Prevage, Elizabeth Arden Ceramide

New Products:

• Revlon—Ultra HD Hyper Matte, Ultra HD Vinyl and Super Lustrous The Gloss lip colors
• Elizabeth Arden—Vitamin C ceramide capsules, Prevage Progressive Renewal treatment and Eight Hour Great 8 daily defense moisturizer
• Almay—Healthy Hue Blush, Color & Care Lip Oil-in-Stick, Skin Perfecting Comfort Care Primer
• CND—Shellac wear extended base coat, Shellac and Never Look Back, Nauti Nautical, Essentials Care Pens, VinyLux, Alluring Triology
• Sinful Colors—Quick Bliss, Claws, Sweet & Salty
• Mitchum—Triple Odor Defense
• Fragrances—Christina Aguilera Xperience

Comments: According to Debra Perelman, Revlon’s president and CEO, 2019 was a year of “transformation” even though the company’s annual report detailed continued revenue slides across most of its business units.

Revlon segment net sales in 2019 were $958.8 million, a $39.5 million, 4%, decrease compared to 2018 that the company said was primarily driven by lower net sales of Revlon ColorSilk hair color, as well as lower net sales of Revlon color cosmetics and Revlon-branded beauty tools primarily in North America, partially offset by increased net sales of Revlon-branded hair care and professional products.

Despite higher net sales of Cutex nail care products and American Crew men’s grooming products, Revlon’s Portfolio segment net sales in 2019 were $487.8 million, a $76.8 million, or 13.6%, decrease, compared to 2018. The decrease was driven primarily by lower net sales of CND nail products, Almay, Pure Ice and SinfulColors color cosmetics, Mitchum anti-perspirant deodorants, as well as lower net sales of local and regional brands.

Net sales in the company’s Fragrances segment were $453.0 million, a $58.4 million, or 11.4%, decrease, compared to 2018 due to lower over sales and what the company described as weakness in the mass retail channel.

The lone bright spot was Elizabeth Arden segment net sales, which climbed 6.1% to $520.0 million in 2019, a (+$29.8 million) compared to 2018, thanks to higher net sales of Ceramide and Prevage skin care products and certain Elizabeth

Arden-branded fragrances, primarily internationally, partially offset by lower net sales of Elizabeth Arden-branded color cosmetics and certain other skin care products.

Regionally, Revlon’s North American net sales fell $25 million (-4.8%) to $497.2 million. It was a similar story in the International segment with 2019 net sales in 2019 decreasing by $14.4 million, or 3.0%, to $461.6 million however sales in China surged 70%, helped by the online relaunch of Revlon color cosmetics.

On another positive note, the company’s operating income experienced a favorable bounce due to improved efficiencies and the conclusion of the company’s 2018 Optimization Program which delivered $95 million in cost reductions.

2020 Highlights

After experiencing a Q1 2020 sales decline of 18.1%, Q2 proved no better with a whopping 39% drop in net sales. The Fragrance sector was hit especially hard, with sales dropping 46.6%, sales in the Revlon segment fell 45% and Elizabeth Arden dropped 29.6%. E-commerce grew 58% in comparison to the previous year, accounting for about 18% of Revlon’s total sales, versus 7% for the same three months of 2019.

Looking Ahead

In February Revlon announced a Transformative 2020 Business Optimization Program, a restructuring plan that would eliminate about 1,000 jobs but generate $200-$230 million in annualized cost reductions by the end of 2022.

“With an improved capital structure, increased liquidity, and more efficient and streamlined business, I am more confident than ever in our ability to take on the opportunities within our industry and continue to deliver for our key stakeholders, global customers and most importantly our deeply dedicated consumers,” commented Debra Perelman.

Sales: $2.5 billion

Major Products/Brands:
Consumer, Professional, and Elizabeth Arden product brands, including:

• Revlon, Almay, SinfulColors and Pure Ice color cosmetics
• Revlon Colorsilk hair color, Charlie fragrances, Ultima II and Gatineau skin care
• Flesh cosmetics, Acumen men’s grooming, Intercosmo
• Orofluid, American Crew and UniqOne hair care
• CND nail polishes; Elizabeth Arden, Red Door
• Halston, Elizabeth Taylor, Britney Spears, Visible Difference

New Products:

• Revlon—Kiss Plumping Lip Crème, So Fierce! Mascara, So Fierce! Vinyl Eyeliner, Kiss Cushion lip tint, Colorstay Overtime lip color, Kiss Exfoliating Balm, Mega Multiplier and Volumazing mascaras, Photoready Insta-Filter Foundation, Youth FX Fill+Blur foundation
• Elizabeth Arden—Skin Illuminating Brightening Hydragel Cream, Ceramide Lift and Firm Day Cream, Prevage City Smart Skin
• Almay—Make Them Jelly Hi-Lite, Palette Pops and Shadow Squad eyeshadow; CND-Boho Spirit nail color; Juicy Couture Oui fragrance.

Comments: So far, new CEO leadership has not helped Revlon solve its financial woes. Debra Perelman was installed to helm the company in May 2018, and by the end of 2018, consolidated net sales tumbled $2,564.5 million, a -4.8% drop equaling $129.2 million. Sales in North America and international markets were down -5.5% ($1.3 billion est.) and -4% ($1.2 billion), respectively.

Lower cosmetic and hair color sales contributed to a Revlon segment net sales decrease of -8.4% ($91.0 million) to $998.3 million compared to $1,089.3 million in 2017. The Elizabeth Arden segment was a bright spot, posting $490.2 million in net sales, a +13.0% increase of $56.4 million, up from $433.8 million in 2017, thanks to higher net sales of Elizabeth Arden skin care products.

Elsewhere, portfolio segment net sales were down -4.7% ($27.9 million) to $564.6 million compared to $592.5 million in 2017. Lower net sales of Cutex nail care products were partially offset by higher net sales of Almay color cosmetics. Lower net sales in the mass channel and expiration of certain celebrity fragrance licenses also contributed to a sizable -11.5% ($66.7 million) drop in the company’s Fragrances segment, rendering net sales of $511.4 million.

The company’s year-end results were delivered in May, after Revlon filed a March appeal to the U.S. Securities and Exchange Commission for an extension, citing the need to review “effectiveness of internal control” over its financial reporting. In a follow-up with the SEC, Revlon explained that it had found a “material weakness” in its financial reporting for last year “primarily related to the lack of design and maintenance of effective controls” resulting from its problems implementing a new enterprise U.S. resource planning (ERP) system, which effectively integrates everything from a company’s inventory of manufacturing goods to its customer relationships. Revlon specifically referenced the difficulties at its Oxford, NC, manufacturing facility in its annual report, connecting service level disruptions with an approximate $54 million net sales loss in its Revlon segment.

News of Note in 2019

In May, Linda Wells stepped down from her role as chief creative officer at Revlon Inc. WWD reported that going forward she would be working with Revlon as a consultant on Flesh, Revlon’s first incubated prestige makeup brand sold exclusively at Ulta Beauty.

In Q2 2019, Revlon’s overall net sales fell -6% to $570.2 million, but the net loss shrunk from $122.5 million in the prior-year period, to $63.7 million. Sector-wise, Elizabeth Arden continued to be the company’s top performer with a 10.7% net sales increase to $117.4 million. Portfolio and Fragrances fell 19.6% and 12.9%, respectively, and Revlon sector net sales reported a -2.6% fall from $258.3 million to $251.5 million.

In August Revlon’s stock experienced an upswing on rumors that the company was considering a sale. According to Bloomberg, the news came after the company had received a $200 million four-year senior secured loan to help fund its business, and additionally solicited Goldman Sachs to explore its financial options.

Beauty Sales: $2.7 billion (FY 2017 Beauty Sales: $2.3 billion)

Major Products/Brands:

• Revlon, Elizabeth Arden, Almay, American Crew,
• Juicy Couture, CND; SinfulColors, Pure Ice, Cutex,
• Colorsilk hair color, Mitchum antiperspirant and deodorants,
• Ultima II and Gatineau skin care; Intercosmo, Orofluid,
• UniqOne professional hair care; Elizabeth Taylor, Brittney Spears,
• John Varvatos, All Saints, La Perla and Wildfox, Curve,
• Christina Aguilera, Shawn Mendes, Halston, Ed Hardy, Geoffrey Beene,
• Alfred Sung, Giorgio Beverly Hills, Lucky Brand, PS Fine Cologne for Men,
• White Shoulders, Charlie, and Jennifer Aniston fragrances

New Products:

• Linda Wells’ 12-piece Flesh beauty line
• Revlon Kiss Cushion lip tint
• Super Lustrous lipstick, Balm Stain
• Colorstay Overtime lip color
• Mega Multiplier and Volumizing mascaras
• Colorstay eyeshadow primer, crème gel pencil, brow kit, brow mousse and brow tint
• Colorstay Full Coverage foundation
• Photoready Insta-Filter foundation
• Youth FX Fill+Blur foundation
• Prevage City Smart Skin Detox set
• Almay Make Them Jelly Hi-Lite
• Palette Pops and Shadow Squad eyeshadow
• CND Boho Spirit nail color
• American Crew Acumen prestige skincare and grooming collection for men

Revlon, By the Numbers

Revlon’s consolidated 2017 net sales increased 15.4% to $2.7 billion, up from $2.3 billion in 2016. The company attributed the boost to the finalization of the 2016 Elizabeth Arden acquisition, which enjoyed sales of $952.5 million (an increase of 115.8% over 2016). The uptick was partially offset, however, by a $101.3 million (7.3%,) decrease in Consumer segment net sales, as well as a $44.3 million (9.3%) decrease in Professional segment net sales.

Correlating sales slowdowns to changes in North American consumer shopping patterns for beauty products—more online shopping, less foot traffic in brick and mortar stores—the company said it planned to address the pace and impact of the evolving commercial landscape by shifting more of its brand marketing toward e-commerce and social media channels.

Despite the declines, geographically speaking, Revlon’s North American market continued to fiscally top its international markets in both the company’s consumer and Elizabeth Arden divisions. The North American consumer division posted net sales of $751 million (-15%) versus sales of $538 million (+6%) internationally. In North America, Arden sales topped $509 million (+85%) and international sales were $443.5 million (+166%). In the Professional division, net sales in North America were $174 million (-22.5%), while international sales were 259 million (+6%).

News of Note in 2018

To help steady the ship, Revlon installed Debra Perelman (daughter of chairman Ronald O. Perelman) as president and chief executive officer in May. A fixture at Revlon for more than 20 years, Perelman has served in operational and leadership roles across all facets of the business, including finance, distribution and sales operations, international and marketing in a variety of positions. As both an executive and a board member, as well as a member of the senior leadership team at MacAndrews & Forbes Incorporated, she has been overseeing corporate strategy and leading Revlon’s ongoing digital transformation, including forming a data and analytics group and establishing infrastructure and deploying resources necessary to create a leading-edge e-commerce business.

In her role as president and CEO, Perelman is charged with enhancing Revlon’s consumer- and customer-focused approach, paying close attention to the company’s cornerstones of personalization, inclusion, usability and passion for beauty. She will be responsible for driving Revlon’s efforts to further innovate through technology, enhance its brand portfolio and invest in e-commerce as a growth driver. Perelman is known for her collaborative approach and has been instrumental in helping assemble Revlon’s leadership team, many of whom joined recently to take part in the company’s transformation.

So far, the turnaround has been challenging. First quarter sales were down 5.7% to about $561 million. Sales of Revlon brand products dropped 6% to $229 million, portfolio brands and fragrances were also down 8.3% and 16% to $134.5 and $91.4 million, respectively. Elizabeth Arden products were the lone first quarter bright spot, up 10.4% to $105.7 million.

Second quarter 2018 sales haven’t fared much better. Net sales were down 6% to $606.8 million, and while Revlon brands and fragrances continued to struggle, posting quarterly losses of 6% and 15.1% respectively, Arden and portfolio brands gained 4.9% and 2.9% in comparison to Q2 2017.

Beauty Sales: $2.3 billion ($1.3 billion consumer; $476.5 million professional; $441.4 million Elizabeth Arden; $26.3 other)

Major Products/Brands: Revlon, Almay, Sinful Colors and Pure Ice color cosmetics, Revlon Colorsilk hair color, Charlie fragrances, Ultima II and Gatineau skin care; Intercosmo, Orofluid, American Crew and UniqOne hair care; Cutex, CND nail polishes; Elizabeth Arden, Red Door, Halston, Elizabeth Taylor, Britney Spears, Christina Aguilera, Giorgio Beverly Hills, Juicy Couture, John Varvatos, Visible Difference, Prevage, Elizabeth Arden Ceramide.

New Products:  Revlon—Ultra HD Gel Lipcolor, Ultra HD Matte Lipcolor, Kiss Balm, Mega Multiplier Mascara, Colorstay Crème Eyeshadow, Colorstay 2 in 1 Angled Kajal. Youth FX Fill + Blur Foundation, Youth FX Fill + Blur Primer for Face/Neck, Youth FX Fill + Blur Primer for Forehead, Instafix Highlighting Stick, Revlon Colorstay Gel Envy Longwear Nail Enamel, Professional Be Fabulous, Revlonissimo Colorsmetique; Revlon Hair—Colorsilk Buttercream, Colorsilk Moisture Rich Color; Almay Intense I-Color Smoky Collection, Shadow Softies; CND Sunset Bash Collection.

Comments:  Despite experiencing some challenges in its U.S. mass and prestige businesses, 2016 was nothing short of transformational for Revlon. After splashing out $870 million for Elizabeth Arden, Revlon instantly became a larger, more diversified company with an extended global footprint.

Riding the wave, Fabian Garcia, president and CEO, said the company has implemented a new “brand-centric operating structure” and an enhanced leadership team to help better orient the company to navigate what it believes is a changing global consumer landscape. The company’s three-pronged strategy to put both Revlon and Arden on a more profitable footing will play out as the company works to strengthen its brands, and restore their relevance among consumers, especially Millennials; expand access to its brands wherever and however consumers shop for beauty; and optimize its cost structures to release incremental funds for re-investment into its brands.

In its 2016 breakdown, color cosmetics comprised 44% of Revlon’s net sales, followed by haircare (23%), fragrance (17%), beauty (13%) and skincare (4%).

News of Note in 2017

So far, 2017 is playing out to be a bit of a challenge for Revlon. Q1 saw sales surge 35.3% to nearly $595 million, thanks to the Elizabeth Arden and Cutex acquisitions. Q2 results announced in August saw net sales at $645 million, an increase of 32.1% compared to last year. Overall Arden sales alone in Q2 were $199 million (+3.4%) but professional segment net sales, however, decreased by 14.5% to $105 million. North American consumer segment net sales also decreased 13% to $202 million, whereas international net sales in the same category increased by 5.3% to $133.7 million.

Garcia commented, “While our financial performance and sales results in the U.S. remained soft in a challenging retail environment, we are encouraged by the global growth of our iconic Revlon and Elizabeth Arden brands, our international sales which remain robust and the key strategic initiatives that we have implemented during the quarter, which we expect will drive sequential improvements in company performance.”

Revlon also signed two mega-watt stars to be the faces of its brands. Gwen Stefani is Revlon’s new global ambassador, while Elizabeth Arden tapped Reese Witherspoon to be its storyteller-in-chief, to help shape the new-to-Revlon brand’s “narrative” through ad and marketing campaigns.

Looking Ahead

Revlon is working hard on a variety of fronts, not only to reinvigorate its many brands but also to better position its company to once again be a top contender in the beauty category. In an interview with WWD, Garcia said his ambition, having added recognizable new brands to the Revlon fold and implementing a new corporate strategy, is to ultimately turn Revlon into a $5 billion, “highly collaborative” powerhouse within five years.

Beauty Sales: $1.9 billion

Major Products/Brands: Color cosmetics, fragrance, skin care and hair care including Revlon, Revlon Professional, Almay, Mitchum, Revlon Colorsilk, Revlon Beauty Tools, Cutex, PureIce, SinfulColors, Charlie, CND, American Crew, Orofludo, Crème of Nature.

New Products: Love Is On fragrance, Revlonissimo Colorsmetique, Revlon Ultra HD Matte Lipcolor, American Crew Nine fragrance, Revlon Ultimate All-in-One Mascara, Revlon Colorstay Gel Envy nail polish, Eyes, Revlon Cheeks and Lips Palette, Revlon Colorstay 2-in-1 Compact Makeup and Concealer, Almay Age Essetials.

Comments: Founded more than 80 years ago by Charles Revson, Revlon began making real moves toward expansion and increasing profitability in 2015, when it adopted its Love Is On campaign, and launched its coordinated Love Is On fragrance, the company’s first perfume debut in more than a decade. The company also made a big commitment to philanthropic causes with its Love Is On Million Dollar Challenge for which it gained valuable social media headlines, while donating to women’s health causes. The online fundraising competition raised more than $4 million through donations.

Sales-wise, 2015 proved to be strong year for Revlon, with net sales of $1.9 billion, a 5.3% rise over the previous year. Sales in both the Consumer and Professional divisions showed increases, with the Consumer segment accounting for nearly 75%.

Consumer sales reached $1.4 billion, while Professional achieved $471 million.

Higher net sales of Revlon color cosmetics, Mitchum anti-perspirant deodorant products, Revlon ColorSilk hair color and Cutex nail products, partially offset lower net sales of Almay color cosmetics.

Similar to other companies in our Top 20, Color Cosmetics took the No. 1 spot, accounting for more than half (54%) of net sales. Beauty Care and Fragrance brought in 27%, and Hair Care contributed 19%. Geographically, the split was 55% U.S. and 45% international.

The big news of course came during the second quarter of 2016—that Revlon, Inc. would acquire Elizabeth Arden, Inc. for approximately $870 million. The merger is expected to create a beauty business with roughly $3 billion in annual sales, greatly raising its ranking among next year’s Top 20 global beauty companies. It also creates a platform across all major categories: mass, prestige, professional, color cosmetics, skin care and fragrance. And it also expands its global reach by targeting each other’s strong points: Arden’s strength in China, and Revlon’s stronger position in Latin America.

While Elizabeth Arden increased sales in its fiscal fourth quarter, it reported a slight loss for the year.

News of Note in 2016

In February, Revlon president and chief executive officer, Lorenzo Delpani, announced he was leaving the company for personal reasons.

In March, Fabian T. Garcia was elected as Revlon’s president and chief executive officer. He had previously served in a number of executive roles at the Colgate-Palmolive Company.

In July, Revlon announced its second Revlon Love Is On Million Dollar Challenge on CrowdRise.com, and said it will open up the competition to a much broader range of women’s health causes.

Soon after, the company announced they had hired Pamela Gill Alabaster to lead Revlon’s Global Corporate Communications and Corporate Social Responsibility function. Alabaster joined Revlon from The Estée Lauder Companies where she most recently served as VP global corporate responsibility. Prior to that, she had a 20-year career at L’Oréal, most recently as senior vice president corporate communications, public affairs & sustainable development.

Looking Ahead

For the first six months of 2016, Revlon reported a 3.5% increase of $32.5 million in net sales compared to the prior year period. The company said it is “on a growth trajectory to achieve its planned net sales and earnings for 2016, by building our strong brands, driving product innovations and continuing to grow our international business.”

Consumer segment net sales in the second quarter of 2016 increased by 3.9%, compared to the second quarter of 2015, driven in large part by higher net sales of Revlon color cosmetics, SinfulColors color cosmetics, Mitchum anti-perspirant deodorants, and Cutex nail products, partially offset by lower net sales of Almay color cosmetics.

Professional segment net sales in the second quarter of 2016 came in relatively flat, but Revlon Professional hair products and American Crew men’s grooming products were a bright spot, offsetting lower sales of CND nail products.

Beauty Sales: $1.9 billion

Major Products/Brands: Consumer and Professional products including, Consumer—Revlon, Almay, SinfulColors and Pure Ice in cosmetics; Revlon ColorSilk in women’s hair color; Revlon in beauty tools; and Mitchum in anti-perspirant deodorants; and Professional—comprised primarily of the brands the company acquired in the Colomer acquisition, which include Revlon Professional in hair color and hair care; CND-branded products in nail polishes and nail enhancements; and American Crew in men’s grooming products.

New Products: Revlon ColorBurst Matte Balm-Ultra HD Lipstick, Revlon Photoready Airbrush Effect Makeup, Revlon Colorstay Gel Envy, Almay Intense i-Color Everyday Neutrals, Crème of Nature Pudding Perfection, Ultima II Clear White Supreme.

Comments: Revlon, with products sold in 150 countries across six continents, says its vision is to become “the quintessential and most innovative beauty company in the world by making consumers feel attractive and beautiful.” Last year was a year of change and transformation for the Revlon business, with the acquisition and integration of the Professional brands that comprise The Colomer Group into the company. The U.S.-based beauty group redesigned its organization, focused on key brands in both divisions, and launched two major campaigns: Revlon Love Is On (end of 2014) and Almay Simply American (January 2015).

Revlon’s financial performance was the best in many years. Sales rose dramatically to $1.9 billion, compared to $1.4 billion in 2013. The increase of $460.9 million was largely due to Revlon’s acquisition of Colomer in October 2013. Consumer sales accounted for about three-quarters of the total.

In the U.S., net sales increased $189.1 million, or 22.7%, to $1,021.9 million, and accounted for approximately 53% of the company’s 2014 net sales. Products are primarily sold in the mass retail channel, at Walmart, Walgreens, CVS and Target in the U.S., Shoppers DrugMart in Canada, A.S.Watson & Co. retail chains in Asia Pacific and Europe and Boots in the U.K.

Net sales outside the U.S. accounted for approximately 47%. The three countries outside the U.S. with the highest net sales were Spain, Canada and the UK, together accounting for approximately 15%.

Within the Consumer segment, Revlon color cosmetics, Revlon ColorSilk hair color and Mitchum products all posted sales increases, which were partially offset by lower net sales of fragrances, Almay color cosmetics and SinfulColors and Pure Ice color cosmetics. Professional product sales were up on the strength of American Crew, Revlon products, CND nail products and Crème of Nature products.

Professional products customers include Beauty Systems Group, Salon Centric and TNG Worldwide, as well as individual hair and nail salons and other distributors in the U.S. and internationally. This segment also includes the Creme of Nature multicultural line with hair care products sold in the mass retail channel and in professional salons, primarily in the U.S.

News of Note

In 2014, the company spent $31.6 million on R&D.

In March 2014, Revlon signed singer/songwriter and “American Idol” star, Carrie Underwood to represent the full range of Almay products in global, multimedia campaigns spanning television, print, in-store, digital and social platforms.

In December, Revlon reported that it was removing some long-chain parabens and formaldehyde-releasing chemicals from its products, a move that was praised by the Environmental Working Group.

Looking Ahead

The news wasn’t quite so bright for the first quarter of 2015, ended in March. Sales dropped 13% to $438 million, which the company blamed on a strong U.S. dollar and foreign currency, since sales were basically flat. Consumer sales dipped 4.5% to $324 million; higher sales of Revlon color cosmetics and Mitchum products made up for weaker sales of Almay. Professional segment sales dropped 8.5% to $114 million, due to lower sales of CND nail products, which were partially offset by higher sales of American Crew and Revlon Professional products. By region, U.S. sales fell 2.3% to $244 million and international sales dropped 11.6% to $194 million.

Revlon’s latest news came last month when the cosmetics company announced an online fundraising campaign called “The Revlon Love Is On Million Dollar Challenge.” The  Challenge is the company’s philanthropic platform, which aims to benefit more than 100 women’s health charities; all were asked to compete to raise funds online. The charity that generates the most contributions will be eligible to receive an additional $1 million donation from Revlon, with the runner-up entitled to $250,000.

Additionally, a total of $150,000 will be distributed through weekly “bonus challenges” over the course of the six-week competition.