Revlon


Revlon

Infobox Company
name = Revlon Incorporated

type = Public (Nyse|REV)
genre =
foundation = 1932
founder = Joseph & Charles Revson, Charles Lachman
location_city = New York City, New York
location_country = flagicon|USA
location =
locations =
area_served =
key_people = David L. Kennedy, President and CEO
industry = Cosmetics, skin care, fragrance, personal care
products =
services =
market c

revenue = profit$1.331 BillionUSD (2006)
operating_income =
net_income =
assets =
equity =
owner =
num_employees = 6,800
parent = MacAndrews & Forbes Holdings: 60% (74% of votes)
FMR Corp.: 20%
divisions =
subsid =
homepage = [http://www.revlon.com/ US Site]
footnotes =
intl =

Revlon (nyse|REV) is an American cosmetics company.

History

Revlon was founded in the midst of the Great Depression, 1932, by Charles Revson and his brother Joseph, along with a chemist, Charles Lachman, who contributed the "L" in the REVLON name.

Starting with a single product — a new type of nail enamel — the three founders pooled their resources and developed a unique manufacturing process. Using pigments instead of dyes, Revlon developed a variety of new shades of opaque nail enamel. Successful in salons from the start, in 1937 Revlon started selling the polishes in department stores and drug stores. In six years the company became a multimillion dollar organization. By 1940, Revlon offered an entire manicure line, and added lipstick to the collection. During World War II Revlon created makeup and related products for the U.S. Army, which was honoured in 1944 with an Army-Navy Award for Excellence.

By the end of the war, Revlon listed itself as one of America's top five cosmetic houses. Expanding its capabilities, the company bought "Graef & Schmidt", a cutlery manufacturer seized by the government in 1943 because of German business ties. This acquisition made it possible for Revlon to produce its own manicure and pedicure instruments, instead of buying them from outside supply sources.

In 1952 Revlon launched a lipstick shade called "Fire and Ice", which was heavily publicized over the radio with ads featuring Bob Hope and Red Skelton. By 1955, Revlon sponsored the CBS television show The $64,000 Question. The same year rival Hazel Bishop brought formal allegations of wiretapping. Revlon argued they monitored their employees' telephone calls for "training" purposes, but agreed to stop the practice. The same year Revlon reorganized as Revlon, Inc.

In November 1955, Revlon went public. The IPO price was $12 per share, but it reached $30 per share within 8 weeks.

In the 1960s, Charles Revson segmented Revlon Inc into different divisions, each focusing on a different market. He borrowed this stratedgy from General Motors. Each division had its own target customer:
Princess Marcella Borghese was an upscale, international line;Ultima II was the premium line;Revlon was the largest, and popular-priced brand;
Natural Wonder was aimed at the junior customer;
Moon Drops was aimed at dry skins; and
Etherea was a hypo-allergenic brand. There is an unsettled debate as to whether Estee Lauder stole Revson's idea and created Clinique, or the other way around. However, there is no debate which hypo-allergenic line became successful.Revlon's non-beauty ventures were not so successful, either.

In 1957, Revlon acquired "Knomark", a shoe-polish company, and sold its shoe-polish line Esquire Shoe Polish in 1969. Other poorly chosen acquisitions, such as "Ty-D-Bol", the maker of toiler cleansers, and a 27 percent interest in the Schick electric shaver company were also soon discarded. Evan Picone, a women's sportswear manufacturer which came with a price tag of $12 million in 1962, was sold back to one of the original partners four years later for $1 million. However, the 1967 acquisition of U.S. Vitamin and Pharmaceutical Corporation did make Revlon, for a while, a leader in diabetes drugs.

The company had begun to market its products overseas at the end of the 1950s. By 1962, when Revlon debuted in Japan, there were subsidiaries in France, Italy, Argentina, Mexico, and Asia. Revlon's entrance into the Japanese market was typical of its international sales strategy. Instead of adapting its ads and using Japanese models, Revlon chose to use its basic U.S. advertising and models. Japanese women loved the American look, and the success of this bold approach was reflected in the 1962 sales figures, which were almost $164 million.

In 1968, Revlon introduced Eterna27, the first cosmetic cream with an estrogen precursor called "Progenitin" (pregenolone acetate), as well as introducing the world's first American fashion designer fragrance, Norman Norell. Later, Revlon launched "Braggi" and "Pub" for men, and a line of wig maintenance products called Wig Wonder. In 1970 Revlon acquired the Mitchum line of deodorants.

In 1973, Revlon introduced Charlie, a fragrance designed for the working woman's budget. Geared to the under-30 market, Charlie model Shelley Hack in Ralph Lauren clothes personified the independent woman of the 1970s. This is the first perfume ad to feature a woman wearing pants. Charlie was an instant success, helping to raise Revlon's net sales figures to $506 million for 1973 and to almost $606 million the following year. Their follow-up fragrance, "Jontue", quickly began the number 2 best seller.

In 1975, Charles Revson died. Michel Bergerac, who Revson had hired as President of the company, continued to grow the organization. Revlon acquired Coburn Optical Industries, an Oklahoma-based manufacturer of ophthalmic and optical processing equipment and supplies. Barnes-Hind, the largest U.S. marketer of hard contact lens solutions, was bought in 1976 and strengthened Revlon's share of the eye-care market. Revlon purchased "Armour Pharmaceutical Company", a division of Armour and Company, from the Greyhound Corporation in 1977. Other acquisitions included the Lewis-Howe Company, makers of "Tums" antacid in 1978. These health-care operations helped sales figures to pass the $1 billion mark in 1977, bringing total sales to $1.7 billion in 1979.

By the mid-1980s, Revlon's health-care companies, rather than Revlon's beauty concerns, were innovating and expanding. Reluctant to initiate beauty-product development or department store promotions, Revlon lost ground to Estée Lauder, a privately held company whose marketing strategy of high prices with accompanying gifts had earned it almost universal center-aisle department store space. This caused Revlon's share to drop from 20 percent to 10 percent of department store cosmetics sales. Sales at the drugstore also declined as Revlon lost share to Noxell's Cover Girl brand. Revlon compensated with more acquisitions; Max Factor, Ellen Betrix, Charles of the Ritz, Germaine Monteil, Almay, Fermodyl, Lancaster, Aziza, and Halston. The 1977 acquisition of "Carlos Colomer", a Spanish professional beauty supply distributor, brought "Fermodyl" and "Roux" and helped introduce Revlon to the world of ethnic care: "Creme of Nature", "Realistic", "Lovely Color" and "Milk and Honey" became highly successful international. In 1983 the company attempted an unsuccessful hostile takeover of Gillette.

On November 5, 1985, at a price of $58 per share, totaling $2.7 billion, Revlon was sold to Pantry Pride (later renamed to Revlon Group, Inc.), a subsidiary of Ronald Perelman's MacAndrews & Forbes Holdings. The highly leveraged buyout--engineered with the help of junk bond king Michael P. Milken--saddled Revlon with a huge $2.9 billion debt load, which became an albatross around the company's neck for years to come. Pantry Pride Inc. offered to buy any or all of Revlon's 38.2 million outstanding shares for $47.5 a share when its street price stood at $45 a share. Initially rejected, he repeatedly raised his offer until it reached $53 a share while fighting Revlon's management every step of the way. Forstmann Little & Company swooped in at $56 a share, a brief public bidding war ensued, and Perelman triumphed with an offer of $58 a share. Perelman paid $1.8 billion to Revlon's shareholders, but he also paid $900 million of other costs associated with the purchase.cite news |first=Richard |last=Stevenson |title=Pantry Pride Control of Revlon Board Seen Near |publisher=New York Times |page=D5 |date=1985-11-05 |accessdate=2007-04-27] Perelman had Revlon sell 4 division: 2 for $1 billion, vision care division for $574 million and National Health Laboratories division became a publicly owned corporation in 1988. Additional makeup lines were purchased for Revlon: Max Factor in 1987 and Betrix in 1989 later selling them to Procter & Gamble in 1991.cite web |url=http://www.fundinguniverse.com/company-histories/MacAndrews-amp;-Forbes-Holdings-Inc-Company-History.html |title=MacAndrews & Forbes Holdings Inc. |accessdate=2008-05-16 |format=HTML |work=Funding Universe ]

In the late 1980s and early 1990s, fashion photographer Richard Avedon began shooting up and coming top fashion models for the advertising campaign "The Most Unforgettable Women in the World wear Revlon".

As of June 2007, Revlon has reported 27 consistent quarterly losses, with only minor relief through selling off divisions and businesses. Today Revlon is but a fraction of the size it once was, only housing the Revlon, Almay, Mitchum, and Jeanne Gatineau lines. It still owns Ultima II, which is no longer sold in North America, and is rumored to be next on the chopping block.

Ownership

*MacAndrews & Forbes Holdings: 60% (74% of votes)
*FMR Corp.: 20%

Corporate governance

Current members of the board of directors of Revlon are: Alan Bernikow, Paul Bohan, Meyer Feldberg, Debra Lee, David Kennedy, Ronald Perelman, Linda Robinson, Barry Schwartz, Kathi Seifert, and Ken Wolfe.

ubsidiaries

Domestic

*Almay, Inc., a Delaware corporation
*Charles of the Ritz Group Ltd., a Delaware corporation
*Charles Revson Inc., a New York corporation
*Cosmetics & More Inc., a Delaware corporation
*North America Revsale Inc., a New York corporation
*PPI Two Corporation, a Delaware corporation
*Revlon Consumer Corp., a Delaware corporation
*Revlon Consumer Products Corporation, a Delaware corporation
*Revlon Development Corp., a Delaware corporation
*Revlon Government Sales, Inc., a Delaware corporation
*Revlon International Corporation, a Delaware corporation
*Revlon Products Corp., a Delaware corporation
*Revlon Real Estate Corporation, a Delaware corporation
*RIROS Corporation, a New York corporation
*RIROS Group Inc., a Delaware corporation

Foreign Subsidiaries

*ACN 000 189 186 Pty. Limited (Australia)
*CEIL — Comercio e Distribuidora Ltda. (Brazil)
*Cendico B.V. (Netherlands)
*Deutsche Revlon GmbH (Germany)
*European Beauty Products S.L. (Spain)
*Européenne de Produits de Beauté S.A.S. (France)
*New Revlon Argentina S.A. (Argentina)
*Productos Cosmeticos de Revlon, S.A. (Guatemala)
*Promethean Insurance Limited (Bermuda)
*REMEA 2 B.V. (Netherlands)
*Revlon A.B. (Sweden)
*Revlon Australia Pty Limited (Australia)
*Revlon Beauty Products, S.L. (Spain)
*Revlon B.V. (Netherlands)
*Revlon Canada Inc. (Canada)
*Revlon Chile S.A. (Chile)
*Revlon China Holdings Limited (Cayman Islands)
*Revlon Europe, Middle East and Africa Ltd. (Bermuda)
*Revlon Group Limited (United Kingdom)
*Revlon (Hong Kong) Limited (Hong Kong)
*Revlon (Israel) Limited (Israel)
*Revlon Kabushiki Kaisha (Japan)
*Revlon Ltda. (Brazil)
*Revlon Manufacturing Ltd. (Bermuda)
*Revlon Mauritius Ltd. (Mauritius)
*Revlon New Zealand Limited (New Zealand)
*Revlon Offshore Limited (Bermuda)
*Revlon Overseas Corporation, C.A. (Venezuela)
*Revlon Pension Trustee Company (U.K.) Limited (United Kingdom)
*Revlon (Puerto Rico) Inc. (Puerto Rico)
*Revlon Real Estate Kabushiki Kaisha (Japan)
*Revlon, S.A. de C.V. (Mexico)
*Revlon (Shanghai) Limited (China)
*Revlon South Africa (Proprietary) Limited (South Africa)

pokesmodels

Some of the actorsactresses, models, and singers appeared in the TV commercials and print ads included:

*flagicon|USA Paula Abbott
*flagicon|USA Jessica Alba
*flagicon|USA Kim Alexis
*flagicon|BRA Alessandra Ambrosio
*flagicon|CAN Dan Aykroyd
*flagicon|ITA Bianca Balti
*flagicon|USA Kim Basinger
*flagicon|ISR Michaela Bercu
*flagicon|USA Halle Berry
*flagicon|GER Veronica Blume
*flagicon|MAD Josie Borain
*flagicon|USA Kate Bosworth
*flagicon|SWE Kersti Bowser
*flagicon|RSA Nicola Breytenbach
*flagicon|USA Eishia Brightwell
*flagicon|ENG Michele Brooks
*flagicon|ITA Carla Bruni
*flagicon|GBR Jenny Brunt
*flagicon|ENG Naomi Campbell
*flagicon|POR Ana Carmo
*flagicon|USA Shaun Casey
*flagicon|CHN Valerie Chow
*flagicon|DEN Helena Christensen
*flagicon|LAT Sandra Cisa
*flagicon|ENG Joan Collins
*flagicon|ARG Paula Colombini
*flagicon|USA Cindy Crawford
*flagicon|USA Sheryl Crow
*flagicon|BRA Luciana Curtis
*flagicon|USA Tara D'Ambrosio
*flagicon|USA Janice Dickinson
*flagicon|SOM Waris Dirie
*flagicon|USA Donna Dixon
*flagicon|USA Karen Duffy
*flagicon|USA Rhea Durham
*flagicon|ENG Gail Elliott
*flagicon|CAN Linda Evangelista
*flagicon|CAN Cathy Fedoruk
*flagicon|ESP Almudena Fernandez
*flagicon|ESP Miriam Fernandez
*flagicon|BRA Isabeli Fontana
*flagicon|USA Sandra Freeman
*flagicon|CUB Daisy Fuentes
*flagicon|CUB Maria Rosa Gamio
*flagicon|USA Beau Garrett
*flagicon|CAN Yasmeen Ghauri
*flagicon|USA Rebecca Ghiglieri
*flagicon|USA Melanie Griffith
*flagicon|USA Shelley Hack
*flagicon|CAN Dayle Haddon
*flagicon|USA Bridget Hall
*flagicon|USA Jerry Hall
*flagicon|BAR Lene Hall
*flagicon|FIN Katja Halme
*flagicon|USA Patti Hansen
*flagicon|USA Debbie Harry
*flagicon|MEX Salma Hayek
*flagicon|USA Lauren Helm
*flagicon|USA Mariel Hemingway
*flagicon|BEL Audrey Hepburn
*flagicon|USA Clare Hoak
*flagicon|USA Tia Holland
*flagicon|USA Susan Holmes
*flagicon|NZL Rachel Hunter
*flagicon|USA Lauren Hutton
*flagicon|SOM Iman
*flagicon|USA Elaine Irwin
*flagicon|USA Beverly Johnson
*flagicon|USA Don Johnson
*flagicon|JAM Grace Jones
*flagicon|ENG Samantha Jones
*flagicon|UKR Milla Jovovich
*flagicon|EST Carmen Kass
*flagicon|CAN Lisa Kauffmann
*flagicon|ETH Liya Kebede
*flagicon|USA Melissa Keller
*flagicon|USA Jaime King
*flagicon|SWE Vendela Kirsebom
*flagicon|USA Tara Krahn
*flagicon|CZE Milena Kundicova
*flagicon|FRA Jennifer Lamiraqui
*flagicon|USA Piper Laurie
*flagicon|USA Bianca Lawson
*flagicon|USA Kelly LeBrock
*flagicon|FRA Estelle Lefébure
*flagicon|USA Cara Leigh
*flagicon|USA Dorian Leigh
*flagicon|USA Little Richard
*flagicon|USA Lucy Liu
*flagicon|USA Susan Lucci
*flagicon|SWE Karin Lund
*flagicon|Slovakia Zuzana Macasova
*flagicon|JAM Robyn Mackintosh
*flagicon|AUS Elle Macpherson
*flagicon|SER Ruza Madarevic
*flagicon|JPN Maki
*flagicon|CAN Heather Marks
*flagicon|USA Andrew McCarthy
*flagicon|USA Polly Mellen
*flagicon|USA Eva Mendes
*flagicon|USA Susan Miner
*flagicon|USA Liza Minnelli
*flagicon|USA Cherina Montenique
*flagicon|USA Julianne Moore
*flagicon|USA Amie Morgan
*flagicon|NED Karen Mulder
*flagicon|SWE Carrie Nygren
*flagicon|ENG Sarah O'Hare
*flagicon|USA Gail O'Neill
*flagicon|USA Carré Otis
*flagicon|GBR Jade Parfitt
*flagicon|USA Suzy Parker
*flagicon|GER Tatjana Patitz
*flagicon|USA Thania Peck
*flagicon|CZE Daniela Peštová
*flagicon|ESP Bianca Porcelli
*flagicon|CZE Paulina Porizkova
*flagicon|ESP Minerva Portillo
*flagicon|USA Marie Powell
*flagicon|USA Priscilla Presley
*flagicon|IND Aishwarya Rai
*flagicon|USA Kathryn Redding
*flagicon|USA Hunter Reno
*flagicon|AUT Cordula Reyer
*flagicon|BRA Caroline Ribeiro
*flagicon|USA Ashley Richardson
*flagicon|USA Jaime Rishar
*flagicon|NED Annette Roque
*flagicon|AUS Pania Rose
*flagicon|USA Rene Russo
*flagicon|ESP Laura Sanchez
*flagicon|USA Susan Sarandon
*flagicon|GER Claudia Schiffer
*flagicon|ESP Gurus Segovia
*flagicon|USA Connie Sellecca
*flagicon|USA Tom Selleck
*flagicon|USA Cybill Shepherd
*flagicon|Belarus Olga Sherer
*flagicon|ENG Nicollette Sheridan
*flagicon|USA Brooke Shields
*flagicon|USA Bobby Short
*flagicon|ESP Eugenia Silva
*flagicon|DEN Renee Simonsen
*flagicon|USA Barbara Sinatra
*flagicon|USA Frank Sinatra
*flagicon|USA Alexa Singer
*flagicon|USA Talisa Soto
*flagicon|NED Linda Spierings
*flagicon|BEL Fabienne Therwinghe
*flagicon|ENG Sarah Thomas
*flagicon|USA Cheryl Tiegs
*flagicon|USA Mel Tormé
*flagicon|FRA Laurence Treil
*flagicon|USA Christy Turlington
*flagicon|USA Shania Twain
*flagicon|ESP Nastasia Urbano
*flagicon|ARG Daniela Urzi
*flagicon|RSA Elbe van der Merwe
*flagicon|USA Rosie Vela
*Eva Voorhis
*flagicon|NED Louise Vyent
*flagicon|NED Frederique van der Wal
*flagicon|CAN Yasmin Warsame
*flagicon|USA Erin Wasson
*flagicon|USA Veronica Webb
*flagicon|ENG Rachel Weisz
*flagicon|SUD Alek Wek
*flagicon|NED Anoek Wielakker
*flagicon|USA Rachel Williams
*flagicon|USA Oprah Winfrey
*flagicon|USA Trisha Yearwood
*flagicon|USA Kara Young
*flagicon|USA Sandra Zatezalo
*flagicon|CHN Sonny Zhou

References

* Stewart, James B. "Den of Thieves". New York: Simon & Schuster, 1991. ISBN 0-671-63802-5.

External links

* [http://www.revlon.com/ Official website]
* [http://biz.yahoo.com/ic/48/48062.html Yahoo! - Revlon, Inc. Company Profile]
* [http://www.referenceforbusiness.com/history2/10/Revlon-Inc.html]
* [http://www.libanvision.com/revlon.htm About Revlon Inc. in French / Au sujet de la Cie Revlon]
* [http://www.dfnionline.com/article/Revlon-sales-lifted-by-good-duty-free-performance-1856545.html Revlon sales lifted by good duty-free performance]


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