Revlon

Ch.2.2

Type

Public

Traded as

NYSE: REV

Industry Cosmetics, skin care, fragrance, personal care

Founded 1932

Founder(s) Joseph & Charles Revson, Charles Lachman

Headquarters New York City, New York, United States

Key people Alan T. Ennis, President and CEO

Revenue US$1.3 billion (2009)

Operating income

US$170.8 million (2009)

Net income

US$821.20 million (2009)

Total assets

US$794.20 million (2009)

Employees 6,800

Parent

MacAndrews & Forbes Holdings: 60% (74% of votes)

FMR Corp.: 20%

Ch.2.2.1 History

Revlon Inc. operates as one of the world's leading cosmetics companies and markets its products in over 100 countries under such familiar brands as Revlon, ColorStay, Age Defying, Almay, and Skinlights. Revlon also sells skin care products (Ultima II, Vitamin C Absolutes, Eterna 27), fragrances (Charlie), and personal care products (High Dimension, Flex, Mitchum, Colorsilk). Ronald Perelman, who gained control of the company in a nasty hostile takeover in 1985, owns approximately 83 percent of Revlon.

Revlon was founded in the midst of the Great Depression, 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 — a new type of nail enamel — the three founders pooled their resources and developed a unique manufacturing process. Using pigments instead of dyes, Revlon developed a variety of new shades of opaque nail enamel. In 1937, Revlon started selling the polishes in department stores and drug stores. In six years, the company became a multimillion dollar organization. By 1940, Revlon offered an entire manicure line, and added lipstick to the collection. During World War II, Revlon created makeup and related products for the 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....