Revlon shares an early look at Q2 financial results, following Elizabeth Arden acquisition announcement
Revlon reports that sales are up, both for the quarter and the half year. “I am delighted with our continued trajectory of net sales growth in the second quarter. Once again, growth was fueled by product innovation and strong performance by established brands in both the Consumer and Professional segments,” the company’s president and CEO, Fabian Garcia, tells the press.
Facts and figures
Highlighted figures from the quarter include an uptick in year-over-year net sales: $489m this quarter, $482m in Q2 of 2015. This quarter’s reported operating income is $52m, and for the same quarter last year was $61m, according to Revlon’s media release.
Reflecting on the business, Garcia noted that “our most salient innovations in our Consumer segment included the new Revlon Mascara collection, Ultra HD Matte lipcolor and the Kylie SinfulShine Collection. Mitchum anti-perspirant deodorants and Cutex nail products also performed well,” he says. Revlon acquired the Cutex brand portfolio quite recently.
When that acquisition was announced just last month, the company stated that it plans to redesign the Cutex product collection and generate line extensions.
“Cutex has been a consistent source of innovation, from its invention of liquid nail polish in 1917 to its popular nail polish removers widely used today,” noted Gianni Pieraccioni, executive vice president and COO of Revlon. “With this acquisition, Revlon continues to enhance our global brand portfolio and it provides us with a springboard to grow the Cutex brand worldwide.”
Even beyond that, this quarter’s sales figures were bolstered by men’s grooming and pro hair care too: “In our Professional segment, American Crew’s line of special edition grooming products honoring Elvis Presley, an ultimate style icon, has continued to demonstrate strong sales in salons, as have Revlon Professional hair products,” says Garcia.
Innovative leaders
With a focus on brand and product innovations, the company’s latest hire makes good sense. Pamela Gill Alabaster accepted a leadership role with the Revlon earlier this month. She’s overseeing global corporate communications and CSR (or corporate social responsibility).
She’s charged with building strategic collaborations and assisting the company reach its standards to a magnitude that will meet the expectations of stakeholders—a job the company believes will be an asset for innovation.
