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Great depression for Revlon as it files for bankruptcy

Lifestyle

Great depression for Revlon as it files for bankruptcy

The 90-year-old company started life selling nail polish in the Great Depression

Claire Boston

Revlon filed for Chapter 11 bankruptcy last week, unable to manage its heavy debt load after failing to tap into a cosmetics sales boom driven by social-media influencers.

The cosmetics giant, owned by US billionaire Ron Perelman, sought court protection inNew York after the global supply chain crunch and steep inflation deepened its woes. 

Revlon has been unable to keep pace with rivals L’Oreal and Estée Lauder, as well as upstart makeup and personal-care brands that have turned to video bloggers and Instagram personalities to fuel growth. ..

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