Revlon Inc. Case Study
Revlon Inc. Case Study: 1). Introduction
History: Revlon is a universal company that sells products for skin care, cosmetics, personal care, fragrance and professional products. It was founded in 1932 and began in the nail polish market, soon after expanding into lipstick. Over the past six years, Revlon has consistently lost revenue and struggled with debt. Even though they have eliminated executive positions, reduced staffing and consolidated sales and marketing functions to save an approximate $33 million, the company is still in serious trouble. Revlon was founded in 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 nail enamel unlike any before it - the three founders pooled their meager resources and developed a unique manufacturing process. The company began its success with opaque long-lasting nail enamel sold to beauty salons. Revlon sold its nail enamel through department stores and selected drugstores. Revlon contributed directly to the war effort, by manufacturing first aid kits and dye markers for the navy. At war's end, Revlon began to produce manicure and pedicure instruments. Following the war, Revlon launched twice-yearly nail enamel and lipstick promotions tied to seasonal clothing fashions. Revlon also turned to television sponsorship to boost sales. In December 1955, Revlon first offered stock to the public. At the end of the following year, Revlon was listed on the New York Stock Exchange. Revlon laid the ground work for its highly successful international presence in the 60's, bringing the "American Look" to the rest of the world through advertising featuring U.S. models. Growth and innovation led the way for Revlon. In 1985, Revlon was sold to a subsidiary of MacAndrews & Forbes Holdings. In 1987 Almay joined the Revlon lineup In the 1990's, Revlon revitalized its cosmetics business and strengthened its industry leadership role.
History: Revlon is a universal company that sells products for skin care, cosmetics, personal care, fragrance and professional products. It was founded in 1932 and began in the nail polish market, soon after expanding into lipstick. Over the past six years, Revlon has consistently lost revenue and struggled with debt. Even though they have eliminated executive positions, reduced staffing and consolidated sales and marketing functions to save an approximate $33 million, the company is still in serious trouble. Revlon was founded in 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 nail enamel unlike any before it - the three founders pooled their meager resources and developed a unique manufacturing process. The company began its success with opaque long-lasting nail enamel sold to beauty salons. Revlon sold its nail enamel through department stores and selected drugstores. Revlon contributed directly to the war effort, by manufacturing first aid kits and dye markers for the navy. At war's end, Revlon began to produce manicure and pedicure instruments. Following the war, Revlon launched twice-yearly nail enamel and lipstick promotions tied to seasonal clothing fashions. Revlon also turned to television sponsorship to boost sales. In December 1955, Revlon first offered stock to the public. At the end of the following year, Revlon was listed on the New York Stock Exchange. Revlon laid the ground work for its highly successful international presence in the 60's, bringing the "American Look" to the rest of the world through advertising featuring U.S. models. Growth and innovation led the way for Revlon. In 1985, Revlon was sold to a subsidiary of MacAndrews & Forbes Holdings. In 1987 Almay joined the Revlon lineup In the 1990's, Revlon revitalized its cosmetics business and strengthened its industry leadership role.