Competition from younger online rivals and supply chain chaos force Revlon into bankruptcy
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msn.comRevlon has gone bust amid rising debts, supply chain chaos and fierce competition from younger rivals. The 90-year-old cosmetics giant behind Elizabeth Arden and Gatineau filed for bankruptcy in the US yesterday.
It follows years of struggle for the New York-based business, renowned for supermodel campaigns featuring diverse, famous and new models including Iman, Claudia Schiffer, Cindy Crawford and Christy Turlington.
It promised to make women ‘unforgettable’. But it was slow to follow women giving up flashy cosmetics like red lipstick for more muted tones in the 1990s.
And it has lost shelf space and sales to celebrity start-ups such as Kylie Jenner’s Kylie Cosmetics and Rihanna’s Fenty Beauty.
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