I. Introduction
Revlon is a world leader in cosmetics, skin care, fragrance and personal care and is leading market- cosmetic brand.
Revlon’s product categories include skin care, cosmetics, personal care fragrance, and professional products. Some of the company’s most recognized brand names are Revlon, Ultima II, Colorstay, Almay, Charlie, Flex, Mitchum, and Colorsilk. The company continues to introduce new products. Almay Intense Eye Color (package that combines eyeliner, mascara, and eye shadow) was successfully introduced in 2005, and Almay Smart Shade (colorless foundation that changes to correct color when applied and ColorStay Smooth Lip Color were introduced in 2006.
The company’s long term mission is to emerge as the dominant cosmetics and personal care firm in the twenty first century by appealing to young/trendy women, health-conscious women (skin care), and older women with its variety of brands.
History
It was founded in 1932 and began in the nail polish market, soon after expanding into lipstick. Over the past six years, Revlon has consistently lost revenue and struggled with debt. Even though they have eliminated executive positions, reduced staffing and consolidated sales and marketing functions to save an approximate $33 million, the company is still in serious trouble. Revlon was founded in 1932, by Charles Revson and his brother Joseph, along with a chemist, Charles Lachman, who contributed the "L" in the REVLON name. Starting with a single product nail enamel unlike any before it - the three founders pooled their meager resources and developed a unique manufacturing process.
The company began its success with opaque long-lasting nail enamel sold to beauty salons. Revlon sold its nail enamel through department stores and selected drugstores. Revlon contributed directly to the war effort, by manufacturing first aid kits and dye markers or the navy. At war's end, Revlon began to produce manicure and pedicure instruments. Following the war,...