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Revlon history
Revlon company history timeline
There was a sharp rise in sales to $11,246 in 1933, the year the company incorporated as Revlon Products Corporation.
The company's first commercial advertisement appeared in The New Yorker in 1935.
1935: The company's first ad appears in The New Yorker magazine.
1937 – The nail enamel was launched into department stores & pharmacies.
By 1937, sales multiplied more than 40 times.
In 1937, Revlon started selling the polishes in department stores and pharmacies.
By 1940, Revlon offered an entire manicure line, and added lipstick to the collection.
Expanding its capabilities, the company bought Graef & Schmidt, a cutlery manufacturer seized by the government in 1943 because of German business ties.
During World War II, Revlon created makeup and related products for the United States Army, which was honored in 1944 with the Army-Navy "E" Award for Excellence.
These efforts produced excellent publicity and helped to raise 1952 net sales to almost $25.5 million.
1953 First powder foundation make up
Also in November 1955, Revlon reorganized as Revlon, Inc.
Initially offered at $12 per share, Revlon stock reached $30 within weeks, and the company was listed on the New York Stock Exchange at the end of 1956.
1958 First stable liquid foundation
1962 First brush on blusher – “Brush on Blush”
Japanese women loved the American look, and the sales for 1962 came to almost $164 million.
The company's first successful acquisition came in January 1966, when Revson bought United States Vitamin & Pharmaceutical Corporation in exchange for $67 million in Revlon stock.
However, the 1967 acquisition of United States Vitamin and Pharmaceutical Corporation made Revlon a leader in diabetes drugs.
In 1968, Revlon introduced Eterna27, the first cosmetic cream with an estrogen precursor called Progenitin (pregnenolone acetate), as well as introducing the world's first American fashion designer fragrance, Norman Norell.
1970 Creation of Charlie which become world best selling perfume
In 1970, Revlon acquired the Mitchum line of deodorants.
In 1971, Revson traded United States Vitamin's diabetes drug and $20 million cash for a group of drugs Ciba-Geigy was required to divest for antitrust reasons.
In 1971 Flex shampoo and conditioner was introduced.
In 1973, the brand announced what would become the #1 fragrance in the world: Charlie™. Over 40 years later, the perfume’s youthful sophistication is still sought after by women of all ages.
Charlie raised Revlon's net sales figures to $506 million for 1973 and almost $606 million the following year.
In 1973, Revlon introduced Charlie.
High profits notwithstanding, 1974 was a difficult year.
His first major purchase came in 1975.
In 1975, Charles Revson died.
Barnes-Hind, the largest United States marketer of hard contact lens solutions, was bought in 1976 and strengthened Revlon's share of the eye-care market.
Revlon sales figures passed the $1 billion mark in 1977.
Revlon purchased Armour Pharmaceutical Company, a division of Armour and Company, from The Greyhound Corporation in 1977.
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.
Other acquisitions included the Lewis-Howe Company, makers of Tums antacid in 1978.
Drugstore and supermarket sales were also suffering; Natural Wonder, a low-priced line, lost 24 percent of its supermarket volume in 1983 alone, and competitor Noxell's inexpensive Cover Girl line was claiming more drugstore sales.
By 1984, industry analysts believed that Revlon would be worth more if it were broken up and sold.
1986 First silicone-based make up – “New Complexion Makeup”
1986 – Revlon were one of the first cosmetic companies to close its animal testing facility – leading the way for other brands to follow.
Costing about $300 million, Max Factor joined the Revlon lineup in 1987, along with its Halston perfume and its Almay toiletries.
Perelman had Revlon sell four divisions: two for $1 billion, the vision care division for $574 million, and the National Health Laboratories division which became a publicly owned corporation in 1988.
In 1989, Perelman spent another $170 million to acquire Betrix, a German makeup and fragrance maker.
In 1989, Revlon became one of the first companies to replace animal tests with alternative safety testing methods.
By 1990, Revlon held only 11 percent of the United States mass-market cosmetics market.
In 1991 alone, $131.6 million went toward debt service, contributing to an operating loss of $241.7 million ($226.9 million of which stemmed from extraordinary restructuring charges). Perelman was forced to sell still more assets to keep Revlon from defaulting on its loans.
Also in 1991, Revlon sold the Clean & Clear brand to Johnson & Johnson.
In 1992, Perelman tried to sell 11 million shares of Revlon stock in an initial public offering (IPO) at about $18 to $20 per share.
In 1993, Ronald O. Perelman took over the company and put in place a management team led by Jerry Levin and George Fellows.
One of the most successful examples of this strategy was Revlon's creation of a unique, patented polymer that led to the development of what it called the first "won't rub off, won't kiss off" lipstick in 1993.
By 1993, the company was finally able to report operating income--$51.5 million--although debt service remained high at $114.4 million.
By 1995, overall market share had reached 19.4 percent and what Advertising Age called the "reborn cosmetics juggernaut" unseated Maybelline from the number one position in cosmetics.
In addition, while debt service remained high ($137.7 million in 1995), it was finally exceeded by operating income ($145.1 million).
On February 28, 1996, Revlon was listed on New York Stock Exchange as public.
For example, in September 1996 Revlon received approval from the Chinese government to manufacture, distribute, and market Revlon products in China; the first products were manufactured in December.
One such expansion included building a manufacturing plant in China in late 1996.
Revlon's sales in international markets increased 12.6 percent in 1996, accounting for 42 percent of the company's net sales.
Backed by what was clearly a remarkable, though long-in-coming turnaround, Perelman felt confident enough to try another initial public offering in early 1996.
On October 28, 1997, the stock was trading on the New York Stock Exchange for about $42 per share, up 75 percent from its initial price.
In October 1997, Revlon began running television ads featuring supermodel Cindy Crawford in a $40 million "Color Stays In.
In early 1997, Revlon, Inc. merged its existing retail business, Prestige Fragrance and Cosmetics, into The Cosmetic Center.
Also in 1997, Revlon launched Top Speed Nail Color, designed to dry in 90 seconds, as well as ColorStay Hair Color.
In 1997, Revlon expanded its ColorStay and Age Defying product lines with a new generation of enhanced-performance products.
In 1997, Revlon Consumer Products Corp. purchased Bionatura S.A. and Len S.A., the distributor of Bionatura's products.
much, marilyn. "industry snapshot." investor's business daily, 13 april 1998.
"revlon reports record first quarter reports and captures the lead in u.s. mass market cosmetics." company press release, may 1998. available at http://biz.yahoo.com.
Officers: Ronald O. Perelman, Chmn. of the Board.; George Fellows, Pres. & CEO, 1998 salary $1,350,000; Frank J. Gehrmann, Exec.
The newest product line of Revlon, introduced in 1998, is Moisture Stay Lipcolor.
Revlon continued introducing new products in 1998 to keep and expand its market share.
Overall, sales had fallen by 40 percent since 1998 as competitors stole market share.
The Age Defying products were designed to appeal to the United States "Baby Boomer" market. For example, in 1998 ColorStay Lipstick retailed for $8.95, while regular lipstick retails for $1.99.
2000: The company's professional products line is sold.
Perelman set plans in motion to bail out the company, offering a cash infusion of $150 million in 2003 to help eliminate some of the firm's debt.
In late 2003, the company launched Destination Model, a business plan designed to get profits back on track.
In March 2011, Revlon acquired Mirage Cosmetics, makers of Sinful Colors nail products.
In 2011, talented and style savvy movie stars Emma Stone and Olivia Wilde joined the long list of inspiring, beautiful women who call themselves Revlon Brand Ambassadors.
2012 Gel-like Colourstay Longwear Nail Enamel
In August 2013, Revlon Consumer Products Corp. bought the Colomer Group from CVC Capital Partners, a private equity firm, for $660 million.
In March 2014, Revlon announced leaving midtown and relocate headquarters to the top the two floors of One New York Plaza.
On September 22, 2014, Revlon's board of directors elected Roberto Simon as executive vice president and chief financial officer, effective as of Sept.
The millennium brought a bold new influence to Revlon when world-renowned makeup artist Gucci Westman joined as Global Artist Director through April 2015, pushing the brand on the forefront of trend and fashion.
On April 30, 2015, Revlon completed the acquisition of U.K. based fragrance management company CBBeauty including its U.K. distributor SAS & Company.
On June 16, 2016, Revlon announced to purchase its competitor Elizabeth Arden, Inc. for $870 million.
The acquisition was completed on September 7, 2016.
The company announced on January 29, 2017 that CEO Fabian Garcia would leave the company at the end of February.
A quarterly report from the end of 2017 estimated its quarterly loss falling approximately between $60 million and $80 million.
In May 2018, the company announced the appointment of Debra Perelman, the daughter of Ronald Perelman, to the position of chief executive officer.
In January 2019, Seeking Alpha published an article regarding trading anomalies on the Revlon stock (REV); it is under investigation.
In August 2020, American bank Citi wrongly wired $900 million to creditors of Revlon.
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Revlon competitors
| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| Avon Product | 1886 | $2.8B | 23,000 | 19 |
| Sephora | 1970 | $10.0B | 28,540 | 656 |
| Coty | 1904 | $5.6B | 20,000 | 38 |
| Maybelline New York | 1915 | $2.6B | 4,118 | - |
| Ralph Lauren | 1967 | $6.4B | 18,250 | 441 |
| GUESS | 1981 | $2.7B | 14,701 | 276 |
| Gillette | 1901 | $82.0B | 101,000 | 2 |
| Levi Strauss & Co. | 1853 | $6.2B | 15,100 | 477 |
| Gap Inc. | 1969 | $15.6B | 117,000 | 2,419 |
| Abercrombie & Fitch Co | 1892 | $3.7B | 44,000 | 2,223 |
Revlon history FAQs
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Revlon may also be known as or be related to Revlon, Revlon Consumer Products Corp., Revlon Consumer Products Corporation, Revlon Inc and Revlon, Inc.