Revlon, beauty icon in crowded market, files for bankruptcy

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In recent years Revlon struggled not only with heavy debt but also with stiffer competition and failure to keep pace with changing beauty tastes.

ARCHIVO - Productos Revlon en exhibicin en una tienda, 5 de julio de 2016, en North Andover, Massachusetts. Revlon, la multinacional de productos de belleza creada hace 90 aos, ha solicitado la quiebra, agobiada por las deudas, los trastornos a su red de suministro de insumos y el aumento vertiginoso de los costos.

The New York City company was slow to follow most women who gave up flashy cosmetics like red lipstick for more muted tones starting in the 1990s. And in addition to rivals like Procter & Gamble, it faced increased competition from celebrity cosmetics lines like Kylie Jenner's Kylie, which capitalized on their massive social media following.Revlon’s problems only intensified with the pandemic as sales of lipstick tumbled, with masks the fashion of the era.

“Today's filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth,” said Debra Perelman, who was named Revlon president and CEO in 2018. During its heyday in the 20th century, Revlon trailed only Avon in sales. It now holds the 22nd spot among cosmetics makers, according to a recent ranking by fashion trade journal WWD.

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