Revlon restructures business as it struggles to compete against L'Oreal and Estee Lauder
Revlon has introduced a new organisation structure build around its global brand teams as the embattled beauty company continues to compete more effectively in the competitive sector.
Revlon restructures business as is struggles to compete against L'Oreal and Estee Lauder
Revlon will organise to a new brand-centric structure, built around four global brand teams, Revlon, Elizabeth Arden, Fragrances and Portfolio Brands, designed to focus on building brand equity and win over beauty consumers.
The new structure comes as Revlon looks at alternative ways to win against its larger competitors L'Oreal and Estee Lauder. Last September it acquired Elizabeth Arden in the hopes of leveraging the $3bn company's diverse portfolio, that includes beauty tools and men's grooming products.
It's a much needed boost for the company. Despite diversifying out of colour cosmetics in 2013 in to perfume and other beauty products Revlon has struggled to reap the rewards of its investments just yet. The company did however see a 28% increase in sales for the third quarter of 2016 to $604.8m, but failed to turn a profit.
Fabian Garcia, president and chief executive of Revlon, said: “This new brand-centric structure enables us to leverage the strength of our iconic brands, better focus on and serve beauty consumers, and quickly adapt to their changing behaviors and preferences.
“Aligned with our strategy, the new brand-centric structure better positions us to grow and win across categories, channels and geographies by delivering consistent, seamless and exceptional brand experiences, wherever and however our consumers shop for beauty."