Headlines

Revlon Files for Bankruptcy

The cosmetics label has struggled amid heightened competition

Published

2 years ago

June 16, 2022

VMSD Staff

Revlon (New York) has filed for Chapter 11 bankruptcy, a move prompted by competition from newer cosmetics brands and ongoing economic challenges, Bloomberg reports.

In its filing for court protection in the Southern District of New York , the company listed assets of $2.3 billion and liabilities of $3.7 billion.

Aside from its heavy debt load, Revlon was also suffering from years of declining sales due to competition from Estee Lauder and numerous smaller companies who are using social media to advertise, the article explains. Supply chain problems and inflation further eroded the brand’s bottom line.

Revlon is owned by MacAndrews & Forbes, the holding company of billionaire Ron Perelman. It has more than 15 brands, including Elizabeth Arden and Elizabeth Taylor.

Read more at Bloomberg.

Related Topics:bankruptcies legal Revlon

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

click to Comment(Comment)

Up Next

U.S. Retail Sales Decline 0.3 Percent in May

Don't Miss

Ulta Exec Shelley Haus Dies at 49 After Cancer Battle

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design