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Revlon is a beauty brand that has stood the test of time and provided the beauty industry with some of the best products. Sadly, in 2022, the trusted brand had to file for bankruptcy.
As reported by BBC, the bankruptcy filing came as a result of supply chain disruptions and an increase in the cost of raw materials. The combined weight of higher production costs, inflation, and shortage in labor made the brand file for bankruptcy in US courts.
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Revlon filed for bankruptcy to continue operating while brand leaders draft up a plan for the future. However, with the announcement of the bankruptcy filing, the 91-year-old brand's share price plummeted and the New York Stock Exchange soon went on to remove the company's share from the market.
What does 2023 have in store for Revlon?
On April 3, 2023, Revlon's reorganization plans were finally approved. This allows the beauty brand to exit bankruptcy by the end of April and remove about $2.7 million from their debt.
After the bankruptcy exit, Revlon will become a private organization with the majority of shares lying with their former lenders. The lenders will take ownership of the brand, removing the shares owned by current shareholders. This change also led to the removal of long-time owner Ron Perelman.
The approval of the reorganization comes as a big milestone for the beauty brand. It marks the end of a year-long struggle and will help the leaders create a solid foundation for the success of the company. It gives them the opportunity to start afresh and present their consumers with a newer and better brand.
The organization has continued its innovations and provided the beauty industry with a fresh supply of product launches. They have hopped on the trend of comfortable lip products and skin-friendly makeup, presenting their consumers with some great products to add to their vanity.
Some of Revlon's latest products in the market
1) ColorStay Suede Ink Lipstick
The lipstick has a transfer-proof formula and comes in 18 different shades. It has a beautiful matte finish and is comfortable to wear. The formula is infused with a primer to help the product last long on the lips. It has the goodness of Vitamin E to keep the lips soft and moisturized.
The lipstick retails for $12.39 on the Revlon website.
2) Illuminance Skin-Caring Foundation
Combining makeup and skincare is the best thing to happen to the beauty industry. The foundation has skin-loving ingredients to help the skin look radiant and plump. The combination of squalane and hyaluronic acid deeply hydrates the skin. Available in 28 gorgeous shades, it also helps one fight fine lines and wrinkles.
The foundation retails for $17.99 on the Revlon website.
3) ColorStay Micro Brow Pencil
The brow pencil is meant to give one a natural-looking fluffy brow. The fine tip results in hair-like strokes and the spoolie helps blend it all in perfectly. The makeup product is easy to use and comes in seven different shades. It has a highly blendable formula and deposits a soft touch of color to keep the eyebrows looking as natural as possible.
The brow pencil retails for $9.99 on the brand's official website.
