The rise and fall of Revlon, the once-beloved beauty counter staple that ushered in nail polish and lipstick as American beauty mainstays

Bethany BironJun 17, 2022, 08:22 IST

A Revlon advertisement in 1991.AP Photo

Revlon filed for Chapter 11 bankruptcy protection on Wednesday.
Before its woes, the beauty giant was both a cosmetics titan and a major figure in popular culture.

Revlon, the once-beloved beauty counter staple, filed for Chapter 11 bankruptcy protection on Wednesday after struggling to overcome mounting debt.

Once a domineering force in the beauty industry, Revlon faced a series of hardships in recent years, including a pandemic-related sales dips, rising competition from trendy digitally native beauty brands, and logistics woes stemming from the global supply chain crisis.

Looking ahead, the company said it expected to secure $575 million in bankruptcy financing from current lenders as it attempts to reorganize and revitalize the business.

Prior to the beauty giant's current trials and tribulations, Revlon was both a cosmetics titan and a significant player in popular culture, with its splashy advertising campaigns and myriad celebrity partners. We took a closer look at the rise and fall of the brand over the years.

Revlon was founded in New York City in 1932 by brothers Charles and Joseph Revson and chemist Charles Lachman.

Revlon products are seen on display for sale in a Boots store in London, in June 2022.REUTERS/Hannah McKay

The company got its start by developing a unique nail enamel, which it mixed with various pigments to create a variety of shades of nail polish.

Revlon nail clippers are on display in 2016, in North Andover, Mass.AP Photo/Elise Amendola

As the business grew, Revlon began investing in advertising, and published its first ad in New Yorker magazine in 1935.

Model and actress Suzy Parker in a Revlon advertisement from the 1960s.AP Photo

In the following years, Revlon started expanding into other types of cosmetics and introduced its first lipstick in 1939.

In this 2006 photo, Revlon cosmetics are on display in a New York pharmacy.AP Photo/Mark Lennihan

The new lip hues were announced through the brand's matching Lips and Fingertips campaign to capitalize on the success of its polish.

Revlon lipstick is displayed in a New York pharmacy.AP Photo/Mark Lennihan

By 1955, sales had picked up significant steam and the company decided to expand globally.

Revlon signage is seen on display in a Boots store in London in June 2022.REUTERS/Hannah McKay

Over the next two decades, Revlon continued to build brand awareness with efforts like its sponsorship of "The $64,000 Question" television show in 1965 and hiring its first brand ambassador, model and actress Lauren Hutton, in 1973.

Actress Lauren Hutton stars as a television news director, in “Someone is Watching Me,” 1979AP Photo

Over the next two decades, Revlon continued to build brand awareness with efforts like its sponsorship of "The $64,000 Question" television show in 1965 and hiring its first brand ambassador, model and actress Lauren Hutton, in 1973.

In 1985, Revlon was sold to MacAndrews & Forbes, a deal led by Ronald Perelman, who took over as chief executive officer of the beauty giant.

Former Revlon owner and current Chief Executive Officer of MacAndrews and Forbes Perelman (right) and guests arrive at the Apollo Theater in New York.REUTERS/Stephen Chernin

In 1996, Revlon filed for its initial public offering and hit the New York Stock Exchange.

Revlon was traded publicly starting in the 1990sKolderal via Getty Images

In the subsequent years, Revlon continued to ramp up its momentum with a series of splashy ad campaigns ...

A Revlon advertisement in 1991.AP Photo

... and interactive challenges ...

A Public Safety officer keeps watch as people stand in front of a billboard owned by Revlon that takes their pictures and displays them in Times Square in ManhattanREUTERS/Carlo Allegri/File Photo

... and celebrity spokeswomen, including Halle Berry, who joined the company in 1996 ...

Actress Halle Berry addresses participants at the 21st Annual EIF Revlon Run/Walk for Women in 2014 in Los Angeles.Chris Pizzello/Invision/AP

... and Emma Stone, who signed on in 2011.

Actress Emma Stone poses in Times Square as she launches the new Revlon Lash Potion Mascara on the Walgreens jumbotron in 2013 in New York. Stone is a global brand ambassador for Revlon.Evan Agostini/Invision/AP

Revlon's celebrity ambassadors and supporters regularly came out to promote the company's charitable events, including its annual Walk/Run For Women.

Participants run past the start line of the 17th annual EIF Revlon Run/Walk for Women in 2014 in New York.Charles Sykes/Invision/AP

The run often attracted several notables, like Oprah Winfrey.

Television talk show host Oprah Winfrey runs with other participants of the Revlon Run/Walk for Women for Breast and Ovarian Cancer in Los Angeles, in 1997.AP Photo/John Hayes

Revlon also held a number of charitable soirees and galas, including its star-studded Revlon Concert for the Rainforest Fund in 2012.

Elton John, left, and actor Channing Tatum perform together during the Revlon Concert for the Rainforest Fund at Carnegie Hall in 2012 in New York.AP Photo/Jason DeCrow

The beauty giant also has a long history of helping prepare models for the runway at major fashion events like New York Fashion Week.

Gucci Westman, Revlon global artistic director, right, applies make-up to model Lindsey Wixson backstage before the Oscar de la Renta Fall 2012 Collection show during New York Fashion Week.AP Photo/Starpix, Amanda Schwab

However, by 2013, Revlon began showing signs of struggle. After two years of slumping business, the company announced it was leaving China and slashing 1,100 jobs along the way as part of a cost-cutting effort.

Revlon products are on display in 2016, in North Andover, Mass.AP Photo/Elise Amendola, File

However, by 2013, Revlon began showing signs of struggle. After two years of slumping business, the company announced it was leaving China and slashing 1,100 jobs along the way as part of a cost-cutting effort.

In an attempt to diversify and strengthen its portfolio, Revlon acquired Elizabeth Arden in 2016 for $14 a share in an all-cash deal that totaled $419.3 million.

Elizabeth Arden beauty products are on display in a store in 2016 in Salem, N.H.AP Photo/Elise Amendola

"Revlon will benefit from greater scale, an expanded global footprint, and a significant presence across all major beauty channels and categories, including the addition of Elizabeth Arden's growing prestige skin care, color cosmetics and fragrances," the companies said of the deal.

In this 2009 photo, a customer receives a facial massage at an Elizabeth Arden Red Door Spa in New York.AP Photo/Mark Lennihan, File

"Revlon will benefit from greater scale, an expanded global footprint, and a significant presence across all major beauty channels and categories, including the addition of Elizabeth Arden's growing prestige skin care, color cosmetics and fragrances," the companies said of the deal.

In May 2018, Ronald Perelman's daughter Debra took over as CEO of Revlon, becoming the first woman at the helm of the beauty company.

Revlon CEO Debra PerelmanAP Photo/Bebeto Matthews

Amid an increasingly crowded beauty counter, Revlon began to struggle to keep up with buzzy beauty upstarts, including Rihanna's Fenty Beauty and Kylie Jenner's Kylie Cosmetics.

Singer Rihanna created Fenty BeautyCaroline McCredie/Getty Images

Amid an increasingly crowded beauty counter, Revlon began to struggle to keep up with buzzy beauty upstarts, including Rihanna's Fenty Beauty and Kylie Jenner's Kylie Cosmetics.

Revlon's woes continued as the pandemic slammed the beauty industry, and then was further hit by the global supply chain crisis.

Revlon products are seen on display for sale in a Boots store in London, in June 2022.REUTERS/Hannah McKay

By 2022, Revlon was in too deep. In June, the company filed for Chapter 11 bankruptcy protection, an attempt to help the legacy brand find a "clearer path for our future growth," Debra Perelman said in a statement.

Revlon CEO Debra Perelman, the company's first woman CEO in its 89-year-old history, shows products during an interview in 2021 in New York.AP Photo/Bebeto Matthews

By 2022, Revlon was in too deep. In June, the company filed for Chapter 11 bankruptcy protection, an attempt to help the legacy brand find a "clearer path for our future growth," Debra Perelman said in a statement.

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The rise and fall of Revlon, the once-beloved beauty counter staple that ushered in nail polish and lipstick as American beauty mainstays

Revlon was founded in New York City in 1932 by brothers Charles and Joseph Revson and chemist Charles Lachman.

The company got its start by developing a unique nail enamel, which it mixed with various pigments to create a variety of shades of nail polish.

As the business grew, Revlon began investing in advertising, and published its first ad in New Yorker magazine in 1935.

In the following years, Revlon started expanding into other types of cosmetics and introduced its first lipstick in 1939.

The new lip hues were announced through the brand's matching Lips and Fingertips campaign to capitalize on the success of its polish.

By 1955, sales had picked up significant steam and the company decided to expand globally.

Over the next two decades, Revlon continued to build brand awareness with efforts like its sponsorship of "The $64,000 Question" television show in 1965 and hiring its first brand ambassador, model and actress Lauren Hutton, in 1973.

In 1985, Revlon was sold to MacAndrews & Forbes, a deal led by Ronald Perelman, who took over as chief executive officer of the beauty giant.

In 1996, Revlon filed for its initial public offering and hit the New York Stock Exchange.

In the subsequent years, Revlon continued to ramp up its momentum with a series of splashy ad campaigns ...

... and interactive challenges ...

... and celebrity spokeswomen, including Halle Berry, who joined the company in 1996 ...

... and Emma Stone, who signed on in 2011.

Revlon's celebrity ambassadors and supporters regularly came out to promote the company's charitable events, including its annual Walk/Run For Women.

The run often attracted several notables, like Oprah Winfrey.

Revlon also held a number of charitable soirees and galas, including its star-studded Revlon Concert for the Rainforest Fund in 2012.

The beauty giant also has a long history of helping prepare models for the runway at major fashion events like New York Fashion Week.

However, by 2013, Revlon began showing signs of struggle. After two years of slumping business, the company announced it was leaving China and slashing 1,100 jobs along the way as part of a cost-cutting effort.

In an attempt to diversify and strengthen its portfolio, Revlon acquired Elizabeth Arden in 2016 for $14 a share in an all-cash deal that totaled $419.3 million.

"Revlon will benefit from greater scale, an expanded global footprint, and a significant presence across all major beauty channels and categories, including the addition of Elizabeth Arden's growing prestige skin care, color cosmetics and fragrances," the companies said of the deal.

In May 2018, Ronald Perelman's daughter Debra took over as CEO of Revlon, becoming the first woman at the helm of the beauty company.

Amid an increasingly crowded beauty counter, Revlon began to struggle to keep up with buzzy beauty upstarts, including Rihanna's Fenty Beauty and Kylie Jenner's Kylie Cosmetics.

Revlon's woes continued as the pandemic slammed the beauty industry, and then was further hit by the global supply chain crisis.

By 2022, Revlon was in too deep. In June, the company filed for Chapter 11 bankruptcy protection, an attempt to help the legacy brand find a "clearer path for our future growth," Debra Perelman said in a statement.