Revlon Restructures Yet Again
I thought Gal Gadot was going to turn Revlon around and make it cool again. She’s Wonder Woman FFS! I guess not because Revlon restructures yet again. Revlon plans to reinvest in its brands to drive sales and profit growth. Revlon had a net sales dip of 1.8 percent to $445 million and a net loss of around $96 million (compared to $214 million last year).
Their plan is to boost growth in the next two years while reducing their annual costs. They also plan on focusing not only on the Revlon brand but Elizabeth Arden as well across the US, Europe, the Middle East, Africa, and China.
Revlon, like many brands, is still in COVID recovery mode but plans on relaunching (they were started in 2018) these new restructuring strategies immediately. They are claiming sales would have reached near 10% increase if the pandemic hadn’t been a factor. I have my own personal doubts about this based off their release steam but I could be alone in my mentality.
Revlon remains optimistic about the color cosmetic category as we all should considering it is currently in shambles.
Thoughts on Revlon’s regrowth?
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