Revlon Declares Bankruptcy
Revlon has filed for bankruptcy, blaming stiff competition and mounting debt
Revlon filed for Chapter 11 bankruptcy protection.
Before its problems, the beauty behemoth was a cosmetics titan and a cultural icon. We examined the company’s ascent and declined throughout the years.
Revlon, a once-loved beauty counter mainstay, filed for Chapter 11 bankruptcy protection after failing to manage growing debt.
Revlon, the 90-year-old cosmetics behemoth, has filed for Chapter 11 bankruptcy protection in the United States due to debilitating debt and rising celebrity competition.
Revlon has received debtor-in-possession finance of $575 million (A$815 million) to fund its day-to-day operations.
Revlon CEO Debra Perelman declared the company’s insolvency
In recent years, Revlon has lost shelf space and revenues to celebrity-backed start-ups like Kylie Jenner’s Kylie Cosmetics and Rihanna’s Fenty Beauty.
Celebrity-backed start-ups like Rihanna’s Fenty Beauty have significantly impacted Revlon.
Revlon sales fell 21% in 2020 but increased 9.2% in 2022.
