Below is a look at the company's 2019 highlights, recent acquisitions, best-selling brands and latest innovations.
- Debra Perelman, president and chief executive officer
- Silvia Galfo, president, Revlon brand
- Gillian Gorman Round, general manager, American Crew, CND, Flesh and Gatineau brands
- Ava Huang, general manager, Elizabeth Arden brand
- Eric Lauzat, president, international
- Jon Levin, general manager, U.S., Mass
- Catherine Roggero-Lovisi, president, North America
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
- 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.
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.
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