Revlon news and archive

Revlon completes financial restructuring, exits Chapter 11 bankruptcy

Revlon, Inc. has completed the financial restructuring process and has emerged from Chapter 11 positioned for future success and growth. The newly reorganised company is named Revlon Group Holdings LLC. The company said in a release that with approximately 236 million dollars of liquidity, funded through an equity rights offering, a new money...

Business

Revlon announces new board of directors

Make-up brand Revlon has confirmed a new board of directors featuring senior executives from Sephora, Walgreens, and Ebay as it emerges from bankruptcy. In a statement, Revlon said it will emerge from Chapter 11 bankruptcy in “the coming days” with a reorganised board of directors, which will be led by executive chair Elizabeth Smith, former...

Business

Revlon set to exit bankruptcy with 2.7 billion dollar debt reduction

Makeup firm Revlon has reached an agreement with a US judge that could see it exit from bankruptcy later this month. The company initially filed for Chapter 11 protection in a US bankruptcy court on June 15, 2022, allowing it to strategically reorganise its legacy capital structure with the goal of improving its long-term outlook. The filing,...

Business

Beauty giant Revlon swings to Q4 loss

US beauty giant Revlon swung to a loss in the fourth quarter of the year as its revenue fell 4.1 percent. In the quarter ended December 31, the company made a net loss of 178.5 million dollars compared to a profit of 9.9 million dollars in the prior-year period, which it said was primarily due to 172.7 million dollars in charges linked to its...

Business

Revlon considers sale offers amid bankruptcy

Struggling beauty giant Revlon is reportedly considering a sale offer, its bankruptcy attorneys told the US Bankruptcy Court for the Southern District of New York last week. It comes as the cosmetics company explores ways to exit from its Chapter 11 filing as quickly as possible, with it now said to be engaging with possible buyers. According to...

People |Beauty

Revlon names interim chief financial officer

Revlon has announced that Victoria Dolan is retiring as the company’s chief financial officer during bankruptcy proceedings and has named Matt Kvarda, managing director at professional services firm Alvarez & Marsal as interim CFO. The US-based beauty company said that Dolan would be stepping down from her role as chief financial officer on...

Business

Revlon receives approval for 1.4 billion dollar bankruptcy loan

Revlon has received permission from a US bankruptcy judge to proceed with a 1.4 billion dollar loan. The ruling comes despite junior creditors’ objections to the loan, each of which argued that its terms could deter any possibility of recovering anything from the company’s bankruptcy. Manhattan-based judge David Jones ordered modifications to...

Business

Revlon partners with Origin Material’s on sustainable packaging initiative

Beauty brand Revlon has partnered with Origin Materials on an initiative that aims to develop carbon negative materials for next generation cosmetics packaging. As part of the deal, Revlon has signed a memorandum of understanding to reserve commercial volumes of Origin PET, a product made from carbon-negative CMF. The initiative hopes to...

Business

Revlon files for bankruptcy protection

Cosmetics company Revlon has announced it has filed for voluntary petitions for reorganisation in the US Bankruptcy Court in New York, alongside a number of its subsidiaries. According to the firm, the Chapter 11 filing will allow it to strategically reorganise its legacy capital structure, with the goal of improving its long-term outlook. The...

Fashion

StockX partners with Revlon for first-ever DropX make-up release

Revlon is to launch its first make-up collection with Megan Thee Stallion exclusively on StockX via DropX, the direct-to-consumer product release method powered by the global e-commerce marketplace for consumers of current culture. The collaboration marks the first-ever DropX release with a make-up brand, as well as Megan Thee Stallion’s debut...