The Story of Revlon: From Beauty Empire to Bankruptcy
Once a titan of the beauty industry, Revlon is now a cautionary tale about what can happen when a company fails to keep up with the ever-changing world of beauty. This blog post will tell the story of Revlon—from its meteoric rise in the 1950s to its eventual bankruptcy in 2020. Let’s take a look at this classic American beauty brand and how it managed to stay relevant for so long.
Revlon was founded in 1932 by Charles Revson and his brother Joseph, along with chemist Charles Lachman. Starting out as a nail polish company, Revlon quickly became known for its innovative color selections and high-quality formulas that allowed for easy application and long wear. By the 1950s, Revlon had become one of the most popular makeup brands in America, and its products were available in drugstores nationwide.
The 1960s saw an expansion into other categories such as skin care and fragrances, which helped propel Revlon even further into the public consciousness. During this period, iconic campaigns featuring models such as Cheryl Tiegs featured prominently on television and billboards across America. In addition to being well-known for their advertisements, Revlon also became synonymous with fashion; they were one of the first brands to introduce seasonal color collections inspired by current trends on catwalks around the world.
However, while they were successful in marketing their products to consumers, they failed to keep up with changing beauty trends over time. As new competitors emerged with trendier products, Revlon struggled to remain competitive and began losing market share. By 2019, sales had been declining steadily for several years due to increasing competition from digital disruptors like Glossier and ColourPop that had changed consumer expectations about what a makeup company should provide. After years of financial losses, Revlon filed for bankruptcy protection in 2020.
Revlon was once an iconic giant of the beauty industry whose products could be found in stores all over America. But after decades of success, it eventually succumbed to changing consumer tastes and increased competition from digital disruptors like Glossier and ColourPop. Though it is no longer around today, it has left us with many fond memories—and plenty of lessons about how quickly things can change in business! For female entrepreneurs who are looking at building their own beauty empire — or any type of business — it’s important to remember that staying ahead of trends is key if you want your business to survive longterm success!
Watch my Youtube video here
