Revlon finds it hard to put lipstick on this pig…
The mega-cosmetics company has filed for bankruptcy in the US, potentially heralding the end of the iconic brand. Its problems? Well, it’s got big debts, inflation, supply-chain pressures and competitive threats to deal with… In the US, filing for bankruptcy can be a way to get a fresh start by allowing debtors and creditors to agree on a repayment plan. In Revlon’s case, we’re talking about US$575m required in bankruptcy financing. Bankruptcy proceedings can also give a business some breathing space to map out its future – but for the beauty mainstay, that’s tricky… The company says demand for its products remains strong, and corporate moves like buying Elizabeth Arden for US$870 million in 2016 have helped it fend off the competition. But industry insiders say they aren’t brands that zing on social media, and a spell sans makeup during the pandemic has lingered for many women. Fun fact: Revlon developed the first red nail polish in the 1930s, calling it Cherries in the Snow.
Know someone who'd be interested in this story? Click to share...
The Squiz Today
Your shortcut to being informed, we've got your news needs covered.
Also Making News
Get the Squiz Today newsletter
Quick, agenda-free news that doesn't take itself too seriously. Get on it.