Revlon Intro

8/7/2019 Revlon Intro

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Revlon

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Revlon Incorporated

Type Public (NYSE: REV)

IndustryCosmetics, skin care, fragrance,personal care

Founded 1932

Founder(s) Joseph & Charles Revson, CharlesLachman

HeadquartersNew York City, New York, UnitedStates

Key people Alan T. Ennis, President and CEO

Revenue US$1.3 billion (2009)[1][2]

Operating

income US$170.8 million (2009)[1][2]

Net income US$821.20 million (2009)[2]

Total assets

US$794.20 million (2009)[2]

Employees 6,800

Parent

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

Website http://www.revlon.com/ (US)

Revlon is an Americancosmetics, skin care, fragrance, andpersonal carecompany founded in1932.

Contents

[hide]

y 1 Historyy 2 Advertisingy 3 Philanthropy


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y 4 See alsoy 5 Referencesy 6 External links

[edit] History

Revlon was founded in the midst of the Great Depression, 1932, by Charles Revson and hisbrother Joseph, along with a chemist, Charles Lachman, who contributed the "L" in the Revlonname.[3] Starting with a single product a new type ofnail enamel the three founders pooledtheir resources and developed a unique manufacturing process. Usingpigments instead ofdyes,Revlon developed a variety of new shades of opaque nail enamel. In 1937, Revlon started sellingthe polishes in department stores and drug stores. In six years, the company became amultimillion dollar organization. By 1940, Revlon offered an entire manicure line, and addedlipstickto the collection. During World War II, Revlon created makeup and related products forthe U.S. Army, which was honored in 1944 with the Army-Navy "E" Award for Excellence.

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

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

In the 1960s, Revson segmented Revlon Inc into different divisions, each focusing on a differentmarket. He borrowed this strategy from General Motors. Each division had its own targetcustomer:

y Revlon, the largest and most popular-priced brandy Princess Marcella Borghese, upscale/internationaly Ultima II, premiumy Natural Wonder, juniorsy Moon Drops, dry skiny Etherea, hypo-allergenic

In 1957, Revlon acquired Knomark, a shoe-polish company, and sold its shoe-polish line EsquireShoe Polish in 1969. Other acquisitions, such as Ty-D-Bol, the maker of toilet cleansers, and a 27percent interest in the Schickelectric shaver company were soon discarded. Evan Picone, awomen's sportswear manufacturer which came with a price tag of $12 million in 1962, was soldback to one of the original partners four years later for $1 million. However, the 1967 acquisitionof U.S. Vitamin and Pharmaceutical Corporation made Revlon a leader in diabetes drugs.

The company began to market its products overseas at the end of the 1950s. By 1962, whenRevlon debuted in Japan, there were subsidiaries in France, Italy, Argentina, Mexico, and Asia.


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Revlon's entrance into the Japanese market was typical of its international sales strategy. Insteadof adapting its ads and using Japanese models, Revlon chose to use its basic U.S. advertising andmodels. Japanese women loved the American look, and the sales for 1962 came to almost $164million.

In 1968, Revlon introduced Eterna27, the first cosmetic cream with an estrogen precursor calledProgenitin (pregenolone acetate), as well as introducing the world's first American fashiondesigner fragrance,Norman Norell. Later, Revlon launchedBraggi and Pub for men, and a lineof wig maintenance products called Wig Wonder.

In 1970, Revlon acquired the Mitchum line of deodorants.

In 1973, Revlon introduced Charlie. Geared to the under-30 market, Charlie model Shelley Hackin Ralph Lauren clothes, personified the independent woman of the 1970s. This was the firstperfume ad to feature a woman wearing pants. Charlie raised Revlon's net sales figures to $506million for 1973 and almost $606 million the following year. Shelley Hack appeared on Oprah in

2007 to talk about the power of these Charlie print and commercial ads. Their follow-upfragrance,Jontue, became the number two best seller.

In 1973, model Lauren Hutton signed an exclusive modeling contact, agreeing to pose forRevlon's Ultima line for $400,000 for two years. She was featured on the cover ofNewsweekforthis ground-breaking cosmetics contract.[4] Additionally, famed photographerRichard Avedonwas signed on as the exclusive photographer for the brand - another cosmetics industry first.[5]

In 1975, Charles Revson died. Michel Bergerac, who Revson had hired as President of thecompany, continued to expand the company holdings. Revlon acquired Coburn OpticalIndustries, 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 boughtin 1976 and strengthened Revlon's share of the eye-care market. Revlon purchasedArmourPharmaceuticalCompany, a division ofArmour and Company, from The GreyhoundCorporation in 1977. Other acquisitions included the Lewis-Howe Company, makers ofTumsantacid in 1978. These health-care operations helped sales figures to pass the $1 billion mark in1977, bringing total sales to $1.7 billion in 1979.

In the mid-1980s, Revlon lost ground to Este Lauder. Estee Lauder spent millions of dollars onnumerous magazine ads featuring Czech supermodel Paulina Porizkova, shot by famed Chicagofashion photograhperVictor Skrebneski. Revlon's share dropped from 20 percent to 10 percentof department store cosmetics sales. Sales at the drugstore also declined as Revlon lost shares toNoxell's Cover Girl brand. Revlon compensated with more acquisitions; Max Factor, EllenBetrix, Charles of the Ritz, Germaine Monteil, Almay, Fermodyl, Lancaster, Aziza, and Halston.The 1977 acquisition ofCarlos Colomer, a Spanish professional beauty supply distributor,broughtFermodyland Roux and helped introduce Revlon to the world of ethnic care: Creme ofNature, Realistic,Lovely ColorandMilk and Honey. In 1983 the company attempted anunsuccessful hostile takeoverofGillette. In 1989, Revlon became one of the first companies toreplace animal tests with alternative safety testing methods.[6]


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On November5, 1985, at a price of $58 per share, totaling $2.7 billion, Revlon was sold toPantry Pride (later renamed to Revlon Group, Inc.), a subsidiary ofRonald Perelman'sMacAndrews & Forbes Holdings. The buyout--engineered with the help of junk bond kingMichael P. Milken--saddled Revlon with a huge $2.9 billion debt load, which became analbatross 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 $45a 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 ashare, 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 costsassociated with the purchase.[7] Perelman had Revlon sell four divisions: two for $1 billion, thevision care division for $574 million, and the National Health Laboratories division whichbecame a publicly owned corporation in 1988. Additional make-up lines were purchased forRevlon: Max Factorin 1987 and Betrix in 1989, later sold to Procter & Gamble in 1991.[8] Alsoin 1991, Revlon sold the Clean & Clearbrand to Johnson & Johnson.

[edit] Advertising

Up until the 1940s, Revlon's magazine ads were drawn by hand and mostly in black and white.Beginning in 1945, Revlon began launching full-color photographic advertisements in majormagazines and stores across the country. Revlon introduced matching nail polish and lipstickswith exotic and unique names. These ads were taken by the top fashion photographers of the dayincluding Richard Avedon, Cecil Beaton, and John Rawlings. Some of these ads were for "Paintthe Town Pink" and 1945's "Fatal Apple" with Dorian Leigh. In 1947 Revlon introduced"Bachelor's Carnation" and in 1948, "Sweet Talk".

In 1950, Revlon introduced a red lipstick and nail enamel called "Where's the Fire?" Revlon used

the word "fire" again later in their "Fire and Ice" ads. One of the world's first supermodels,Dorian Leigh, starred in some of Revlon's most memorable advertisements of all time. In 1946,Dorian was covered in purple flowers and wrapped in a pale purple sheet for "Ultra Violet." In1947, Dorian appeared in "Fashion Plate." In 1953, at the age of 36, she appeared in "Cherries inthe Snow." Later that year she appeared in the legendary "Fire and Ice" ad shot by RichardAvedon. Originally, Dorian appeared in a tight, silver-beaded dress with an enormous red wrap.Her black hair had a silver swirl in it and she had her hands, with long red nails, positioned infront of her breasts. Charles Revson rejected Avedon's original ad as "too sexual."[9] They re-shotthe ad, this time with her open hand in front of one hip, the other in front of her cheek. Theadvertisement became Madison Avenue legend because of the full-page quiz next to the sensualad. Almost 50 years later, in November 2010, Revlon re-created 1953's "Fire and Ice" magazine

ad, this time with actress Jessica Biel. With this ad, Revlon announced they were issuing alimited edition Fire and Ice lipstick and nail color calling this campaign, "lips and tips."

Dorian Leigh's 15-years-younger red-headed sister, Suzy Parker, also shot numerous Revlonmagazine ads in the 1950s. Charles Revson, who wanted to marry Dorian at some point, despisedSuzy, and vice-versa. At one point, he refused to hire her anymore because Suzy complainedabout the "peanut" paycheck she received from Revlon. Richard Avedon, however, afterphotographing other models for a particular Revlon ad, would call in Suzy last minute,


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sometimes late at night, to do re-takes with him. This happened with "Stormy Pink," an ad Suzyshot very late at night with a wild white horse in the ocean. Avedon would then told Revson thatit was not Suzy in the ad, but a model named "Bubbles" or another made-up name.

[10]

Tram with Revlon advertising in Hong Kong, June 2007

In 1970, Revlon became the first American cosmetics company to feature an African Americanmodel,Naomi Sims, in their advertising.[11] Revlon was also noted for featuring models of awide age range in the 1980s, including then 13-year-old Milla Jovovich and then 60-year-oldAudrey Hepburn.

[12]Despite the successful campaigns of the 1980s and 1990s featuring models,

in particularCindy Crawford, Revlon decided to drop fashion models and focus on movie stars,among them Kate Bosworth, Jaime King, Halle BerrySusan Sarandon, Melanie Griffith,Julianne Moore, Eva Mendes, Jessica Alba, Jennifer Connelly, Beau Garrett, Jessica Biel, andBond girls.[13][14] In 2009, Australian supermodel Elle MacPherson became a new spokesmodelfor the company. American actress Jessica Biel is the newest woman to model for the brand, firstshown in advertisements in January 2010.[15] (Main article: List of Revlon spokesmodels) In2008, celebrity makeup artist Gucci Westman was hired as Revlon's Global Artistic Director,representing the company at runway shows and brand events and designing collections.[16]

[edit] Philanthropy

Revlon is a corporate sponsor of several charity projects. The largest of these is the Revlon RunWalk, a run and walk event held in New York and Los Angeles to raise money and awarenessfor breast and ovarian cancer. Revlon also supports other cancer charities such as Look GoodFeel Better and the National Breast Cancer Coalition and operates a mobile mammography clinicin and around Oxford, North Carolina, where the company's primary manufacturing operationsare located.[17] In 1996 Revlon supported the development of a breast center at the University ofCalifornia, Los Angeles. Renamed Revlon/UCLA Breast Center, the center is a well-known

institute for treatment and research of breast cancer and other breast diseases and disorders.[18]

ARevlon lip gloss shade whose proceeds support Revlon's cancer charities was also created in2009.

In September 2010, Revlon, with global artistic directorGucci Westman and spokesmodel HalleBerry hosted an event at Fashion's Night Out in New York City to raise funds for the JenesseCenter, a Los Angeles organization for domestic violence victims.[19] Revlon also hosted


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luncheons and various other events to benefit the center and partnered with online retailerDrugstore.com to donate portions of lipstick sales to the organization.[20]

[edit] See also

List of Revlon spokesmodels

[edit] References

1. ^abYcharts.com. Retrieved October 31, 2010.2. ^abcdGoogle.com. Retrieved October 31, 2010.3. ^Revlon.com[deadlink]4. ^ Model, by Michael Gross, 1995, page 212.5. ^"Andrewtobias.com". Andrewtobias.com.

http://www.andrewtobias.com/fireandice18.html. Retrieved 2011-04-06.

6.^ McGill, Douglas C. (August 2, 1989). "Cosmetics Companies Quietly Ending AnimalTests". The New York Times. http://www.nytimes.com/1989/08/02/business/cosmetics-companies-quietly-ending-animal-tests.html.

7. ^ Stevenson, Richard (1985-11-05). "Pantry Pride Control of Revlon Board Seen Near".New York Times. p. D5.

8. ^"MacAndrews & Forbes Holdings Inc.".FundingUniverse.http://www.fundinguniverse.com/company-histories/MacAndrews-amp;-Forbes-Holdings-Inc-Company-History.html. Retrieved 2008-05-16.

9. ^ The Girl Who Had Everything, The Story of 'The Fire and Ice Girl,' by Dorian Leighand Laura Hobe, 1980, page 88.

10. The GirlWho Had Everything. The Story of the "Fire and Ice Girl,"Dorian Leigh andLaura Hobe, 1980, page 89.11. Tell Me More (2009-08-05). "Naomi Sims Showed The World That Black IsBeautiful". NPR. http://www.npr.org/templates/story/story.php?storyId=111572300.Retrieved 2011-04-06.

12. "The Official Milla Jovovich Website :: Gallery - Revlon". MillaJ.com.http://www.millaj.com/model/revlon.shtml. Retrieved 2011-04-06.

13. 02:43 PM ET. "Stylenews.peoplestylwatch.com". Stylenews.peoplestylewatch.com.http://stylenews.peoplestylewatch.com/2009/05/04/jessica-biels-new-role-face-of-revlon/.Retrieved 2011-04-06.

14. 12:45 PM ET. "Stelenews.peoplestylwatch.com". Stylenews.peoplestylewatch.com.http://stylenews.peoplestylewatch.com/2008/07/22/jennifer-connellys-latest-role-revlon-spokesmodel/. Retrieved 2011-04-06.

15. "Marketing News". HAPPI. http://www.happi.com/articles/2009/06/marketing-news.Retrieved 2011-04-06.

16. "Revlon Taps Gucci Westman - Beauty Industry and Products News". WWD.com.http://www.wwd.com/beauty-industry-news/revlon-taps-gucci-westman-1022645.Retrieved 2011-04-06.

17. "Revlon Cares". Revlon.com. http://www.revlon.com/Revlon-Home/Revlon-Corporate/RevlonCares.aspx. Retrieved 2011-04-06.


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18. "About Us". Revlon/UCLA Breast Center.http://breastcenter.ucla.edu/body.cfm?id=18.

19. "Revlon and Halle Berry Celebrate Fashions Night Out New York". Business Wire.2010-09-14. http://www.businesswire.com/news/home/20100914007361/en/Revlon-Halle-Berry-Celebrate-Fashion%E2%80%99s-Night-York. Retrieved 2011-04-06.

20.

Thomas, Bobbie (2009-12-15). "Shop for change! Top gifts that give back - HolidayGuide - TODAY.com". Today.msnbc.msn.com.

http://today.msnbc.msn.com/id/34417346/ns/today-today_holiday_guide/. Retrieved2011-04-06.

[edit] External links

y Official websitey Revlon, Inc. Company Profile, Yahoo!y Company Historyy About Revlon Inc. in French / Au sujet de la Cie Revlony Revlon sales lifted by good duty-free performance

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