07.01.16
New York, NY
212.527.4000
www.revlon.com
Sales: $1.9 billion.
Key Personnel: Fabian T. Garcia, president and chief executive officer; Corrado Brondi, president, CBBeauty; David Carvalho, senior vice president, Revlon Consumer International; John Collier, senior vice president, Revlon Consumer North America; Francisco Cornellana, senior vice president, chief information officer; Xavier Garijo, executive vice president, operations and chief supply chain officer; Juan R. Figuereo, executive vice president, chief financial officer; Mitra Hormozi, executive vice president, general counsel; Benjamin Karsch, executive vice president and chief marketing officer, Revlon Consumer Division; Sennen Pamich, executive vice president, global president, Revlon Professional Division; Mark Pawlak, senior vice president, human resources, employment and administration; Gianni Pieraccioni, executive vice president, chief operating officer; Daniel Ramos, senior vice president and chief science officer; Fabian Urquijo, senior vice president and chief marketing officer, Revlon Professional Division.
Major Products: Consumer—Revlon, Almay, SinfulColors and Pure Ice color cosmetics; Revlon ColorSilk hair color, Revlon beauty tools, Charlie fragrances, Mitchum antiperspirant and deodorants, and Ultima II and Gatineau skin care. Professional—Revlon Professional, Intercosmo, Orofluido, American Crew and UniqOne hair care; CND nail polishes.
New Products: Revlon Cosmetics—Mascara Collection, Ultra HD lipcolor and lip lacquer, Super Lustrous lipgloss, Colorstay Not Just Nudes eye color, Photoready Primer, Shadow and Sparkle, Colorstay 16-hour eye shadow, Colorstay Liquid eye pens, Colorstay Skinny liquid liner, Photoready Insta-Fix highlighting stick, Cream Blush, Ultimate Shine top coat, Essential Cuticle Oil; Hair Color—Color Effects Platinum, Color Effects Ombre, Color Effects Highlights, Color Effects Frost & Glow. Almay—One Coat Multibenefit mascara, Clear Complexion towelettes, Intense I-Color gel smooth liner. CND—Summer and Fall 2016 colors.
Comments: Earlier this year, Chairman Ron Perelman said he was considering strategic alternatives for his company; but who knew that back in January he was targeting Elizabeth Arden? Last month, Revlon agreed to acquire the struggling beauty company for $870 million. Revlon will benefit from greater scale, an expanded global footprint, and a significant presence across all major beauty channels and categories, including the addition of Elizabeth Arden’s growing prestige skin care, color cosmetics and fragrances.
According to the companies, the combination will leverage Revlon’s scale across major vendors and manufacturing partners, improving distribution and procurement. Cost synergies of approximately $140 million are expected to be achieved through the elimination of duplicative activities, leveraging purchasing scale, and optimizing the manufacturing and distribution networks, according to Revlon. The companies anticipate that they will achieve additional growth opportunities in both sales channels and geographies.
Revlon’s strength and expertise in color cosmetics, hair care, men’s grooming, antiperspirants, deodorants and beauty tools will be complemented by the addition of Elizabeth Arden’s world-class portfolio of licensed prestige fragrances and the internationally recognized line of Elizabeth Arden-branded prestige skin care, color cosmetics and fragrance products, highly profitable categories that are key to future industry growth. Elizabeth Arden’s strong global reach in prestige distribution and travel retail will complement Revlon’s strength in mass and salons, strongly positioning the combined company in all key beauty channels, said Revlon. Lastly, the deal brings Revlon a broader geographic footprint. Revlon currently sells its products in approximately 130 countries. With Elizabeth Arden’s presence in important international growth regions, including Asia Pacific, the combined company will be better positioned to compete globally.
“This acquisition is strategically and financially compelling. Elizabeth Arden and Revlon are both known for their iconic brands, entrepreneurial spirit and commitment to innovation, quality and excellence,” said Fabian Garcia, president and CEO of Revlon, Inc. He noted that Revlon plans to build upon Elizabeth Arden’s ongoing transformation by “further enhancing the brand, with even more vibrant and relevant product development and marketing, while carefully preserving its unique heritage within prestige.”
In a much smaller deal that took place last month, Revlon acquired Coty’s international Cutex businesses, which primarily operates in Australia and the UK. The acquisition completed the global consolidation of the Cutex brand’s worldwide operations under Revlon management. A purchase price was not disclosed. By re-unifying Cutex’s worldwide operations within its brand portfolio, Revlon said it will strengthen the Cutex brand by redesigning the existing Cutex nail care products to enhance consumer appeal and expanding its portfolio into additional categories.
The moves will certainly reverse a sales decline at Revlon, although the decline was less than 2% last year, as Revlon, like so many other CPG companies, was hampered by currency headwinds. In the consumer segment, higher net sales of Revlon color cosmetics, Mitchum antipersipirant deodorants, Revlon ColorSilk hair color and Cutex nail products were partially offset by lower net sales of Almay color cosmetics. Results also suffered from the decision to exit Venezuela during 2015.
In the professional segment, higher net sales of American Crew, Revlon Professional and Crème of Nature hair care products were partially offset by lower sales of CND nail products.
For the first quarter ended March 31, sales rose less than 1% to about $440 million. Consumer sales fell 1.3% to $320 million as higher sales of Revlon ColorSilk hair color, Cutex nail products and SinfulColors color cosmetics were offset by lower sales of Revlon color cosmetics. Professional segment sales rose 2.7% due to higher sales of American Crew grooming products and Crème of Nature, but those gains were partially offset by lower net sales within the international region for CND nail products.
In April, Fabian Garcia was appointed president and chief executive officer. Prior to joining Revlon, Garcia was with Colgate-Palmolive Company for more than a decade. During that time, he led the company’s businesses in Asia-Pacific, Eurasia, Latin America, and most recently, Europe and the Hills Pet Nutrition business. As COO of global innovation and growth, he was responsible for for Colgate-Palmolive’s growth strategy, consumer and customer innovation, and operational productivity strategies and plans. Garcia replaced Lorenzo Delpani, who stepped down as CEO for personal reasons, but remains on the Revlon board.
Also in April, the company announced that Juan Figuereo was named chief financial officer.
212.527.4000
www.revlon.com
Sales: $1.9 billion.
Key Personnel: Fabian T. Garcia, president and chief executive officer; Corrado Brondi, president, CBBeauty; David Carvalho, senior vice president, Revlon Consumer International; John Collier, senior vice president, Revlon Consumer North America; Francisco Cornellana, senior vice president, chief information officer; Xavier Garijo, executive vice president, operations and chief supply chain officer; Juan R. Figuereo, executive vice president, chief financial officer; Mitra Hormozi, executive vice president, general counsel; Benjamin Karsch, executive vice president and chief marketing officer, Revlon Consumer Division; Sennen Pamich, executive vice president, global president, Revlon Professional Division; Mark Pawlak, senior vice president, human resources, employment and administration; Gianni Pieraccioni, executive vice president, chief operating officer; Daniel Ramos, senior vice president and chief science officer; Fabian Urquijo, senior vice president and chief marketing officer, Revlon Professional Division.
Major Products: Consumer—Revlon, Almay, SinfulColors and Pure Ice color cosmetics; Revlon ColorSilk hair color, Revlon beauty tools, Charlie fragrances, Mitchum antiperspirant and deodorants, and Ultima II and Gatineau skin care. Professional—Revlon Professional, Intercosmo, Orofluido, American Crew and UniqOne hair care; CND nail polishes.
New Products: Revlon Cosmetics—Mascara Collection, Ultra HD lipcolor and lip lacquer, Super Lustrous lipgloss, Colorstay Not Just Nudes eye color, Photoready Primer, Shadow and Sparkle, Colorstay 16-hour eye shadow, Colorstay Liquid eye pens, Colorstay Skinny liquid liner, Photoready Insta-Fix highlighting stick, Cream Blush, Ultimate Shine top coat, Essential Cuticle Oil; Hair Color—Color Effects Platinum, Color Effects Ombre, Color Effects Highlights, Color Effects Frost & Glow. Almay—One Coat Multibenefit mascara, Clear Complexion towelettes, Intense I-Color gel smooth liner. CND—Summer and Fall 2016 colors.
Comments: Earlier this year, Chairman Ron Perelman said he was considering strategic alternatives for his company; but who knew that back in January he was targeting Elizabeth Arden? Last month, Revlon agreed to acquire the struggling beauty company for $870 million. Revlon will benefit from greater scale, an expanded global footprint, and a significant presence across all major beauty channels and categories, including the addition of Elizabeth Arden’s growing prestige skin care, color cosmetics and fragrances.
According to the companies, the combination will leverage Revlon’s scale across major vendors and manufacturing partners, improving distribution and procurement. Cost synergies of approximately $140 million are expected to be achieved through the elimination of duplicative activities, leveraging purchasing scale, and optimizing the manufacturing and distribution networks, according to Revlon. The companies anticipate that they will achieve additional growth opportunities in both sales channels and geographies.
Revlon’s strength and expertise in color cosmetics, hair care, men’s grooming, antiperspirants, deodorants and beauty tools will be complemented by the addition of Elizabeth Arden’s world-class portfolio of licensed prestige fragrances and the internationally recognized line of Elizabeth Arden-branded prestige skin care, color cosmetics and fragrance products, highly profitable categories that are key to future industry growth. Elizabeth Arden’s strong global reach in prestige distribution and travel retail will complement Revlon’s strength in mass and salons, strongly positioning the combined company in all key beauty channels, said Revlon. Lastly, the deal brings Revlon a broader geographic footprint. Revlon currently sells its products in approximately 130 countries. With Elizabeth Arden’s presence in important international growth regions, including Asia Pacific, the combined company will be better positioned to compete globally.
“This acquisition is strategically and financially compelling. Elizabeth Arden and Revlon are both known for their iconic brands, entrepreneurial spirit and commitment to innovation, quality and excellence,” said Fabian Garcia, president and CEO of Revlon, Inc. He noted that Revlon plans to build upon Elizabeth Arden’s ongoing transformation by “further enhancing the brand, with even more vibrant and relevant product development and marketing, while carefully preserving its unique heritage within prestige.”
In a much smaller deal that took place last month, Revlon acquired Coty’s international Cutex businesses, which primarily operates in Australia and the UK. The acquisition completed the global consolidation of the Cutex brand’s worldwide operations under Revlon management. A purchase price was not disclosed. By re-unifying Cutex’s worldwide operations within its brand portfolio, Revlon said it will strengthen the Cutex brand by redesigning the existing Cutex nail care products to enhance consumer appeal and expanding its portfolio into additional categories.
The moves will certainly reverse a sales decline at Revlon, although the decline was less than 2% last year, as Revlon, like so many other CPG companies, was hampered by currency headwinds. In the consumer segment, higher net sales of Revlon color cosmetics, Mitchum antipersipirant deodorants, Revlon ColorSilk hair color and Cutex nail products were partially offset by lower net sales of Almay color cosmetics. Results also suffered from the decision to exit Venezuela during 2015.
In the professional segment, higher net sales of American Crew, Revlon Professional and Crème of Nature hair care products were partially offset by lower sales of CND nail products.
For the first quarter ended March 31, sales rose less than 1% to about $440 million. Consumer sales fell 1.3% to $320 million as higher sales of Revlon ColorSilk hair color, Cutex nail products and SinfulColors color cosmetics were offset by lower sales of Revlon color cosmetics. Professional segment sales rose 2.7% due to higher sales of American Crew grooming products and Crème of Nature, but those gains were partially offset by lower net sales within the international region for CND nail products.
In April, Fabian Garcia was appointed president and chief executive officer. Prior to joining Revlon, Garcia was with Colgate-Palmolive Company for more than a decade. During that time, he led the company’s businesses in Asia-Pacific, Eurasia, Latin America, and most recently, Europe and the Hills Pet Nutrition business. As COO of global innovation and growth, he was responsible for for Colgate-Palmolive’s growth strategy, consumer and customer innovation, and operational productivity strategies and plans. Garcia replaced Lorenzo Delpani, who stepped down as CEO for personal reasons, but remains on the Revlon board.
Also in April, the company announced that Juan Figuereo was named chief financial officer.