Known for cosmetics and having some high end celebrity endorsements, Revlon Inc. has for bankruptcy.
Despite having stars like Halle Berry, Emma Stone, Katy Perry and Jessica Alba; the lipstick, nail polish and mascara company has watched its sales decline since 2017.
Once word hit Wall Street that the company was making its filing, shares dropped to half.
It’s decline is likely at the hands of online start-ups that have huge celebrities behind them like Rihanna’s Fenty brand and Kylie Jenner’s Kylie line of cosmetics and skincare.
After holding place in pharmacy’s and big box stores for 90+ years, the company has listed to have assets between $1b and $10b in court documents according to report from Reuters.
The company originally started in 1932 by two brothers, Charles and Joseph Revson and Charles Lachman who was a chemist. By the end of the second world war, Revlon was the second highest selling cosmetics producer in the United States.
