Revlon Inc : This thinking of women remains a problem for cosmetics companies. The condition is that America’s famous company Revlon Inc. is going bankrupt.
Revlon Inc : The world is slowly recovering from the Corona epidemic crisis in 2020. After months of lockdown, people are coming out of the house, but the shadow of the mask is still not removed from the face.
People are still using masks in public places. In such a situation, it is a common thought among women that when there is a mask, then why lipstick or makeup?
This thinking of women remains a problem for cosmetics companies. The condition is that the famous American company Revlon Inc. is going bankrupt. Revlon may apply for bankruptcy next week.
As soon as this news came out, the shares of the listed company in the US markets have come down to half. The company’s stock had lost 53 per cent at the close of the market on Friday.
company on a pile of debt
Revlon has been sitting on a pile of debt since the Corona pandemic. According to a Reuters report, the company had a debt of $3.31 billion as of mid-March.
People have started coming out since the beginning of this year after the end of the Corona wave, with this the demand for makeup products has increased. But the road to market leader Revlon is still tough. It still has to compete with smaller brands.
Supply chain broke
First, the lack of demand, the supply chain is tied on it, the condition of the company is bad due to the difficulties being faced. The company’s production has been affected due to supply chain disruption, due to which the company is not able to meet the demand of other markets of the world including America.
Will the company go bankrupt?
The company is owned by McAndrews & Forbes, the company of billionaire businessman Ron Perelman, based in New York, America’s main commercial city.
As of now, there is no statement from Revlon’s side regarding the application for bankruptcy. But if sources are to be believed, the company is definitely considering the application for this. It is possible to see some changes in this planning.