Among the many drugstore beauty brands, Revlon can be said to be a representative of the older generation. Founded in 1932 by Charles Revson in New York, USA, Revlon started with nail polish, then became popular with long-lasting lipsticks that do not fade, and over the years has released similar types of beauty products, attracting a large number of fans with its high cost-performance ratio. In 2020, Revlon even invited former member Jessica of the Korean girl group Girls’ Generation to serve as the brand ambassador to boost sales in the Asian market. Unfortunately, due to the intense competition among mass-market beauty brands and the impact of the pandemic, there are reports in the market that Revlon plans to file for bankruptcy protection soon.
According to foreign media reports, Revlon is expected to file for bankruptcy protection in the United States by this Friday, and the 90-year-old cosmetics brand may become history. It is understood that Revlon’s stock price has plummeted by 52.76% this year, and as of the end of March, the group’s debt has reached as high as $3.31 billion, forcing it to consider filing for bankruptcy.
Actually, Revlon once led the American beauty industry in the early 1980s, with over 15 different beauty brands at its peak. However, with the rise of the Estee Lauder group and the L’oreal group, Revlon’s influence has declined. In recent years, the rapid development of American celebrities’ own beauty brands has become another important factor for Revlon facing bankruptcy. Suddenly, a new coronavirus epidemic lasting for 3 years has further worsened the group’s sales, and the century-old beauty brand may have come to its final chapter in history, which is truly lamentable.
