Revlon leaves China af­ter 37 years

China Daily (Canada) - - NEWS CAPSULE -

Cos­met­ics and beauty prod­ucts maker Revlon Inc is leav­ing China af­ter 37 years, and ex­perts say the com­pany had a failed mar­ket­ing strat­egy, sin­gle dis­tri­bu­tion chan­nel and weak prod­ucts that did’t meet lo­cal needs.

The New-York based com­pany will shed 1,100 jobs, the com­pany an­nounced last week. Most of the job cuts will be in China, where Revlon’s op­er­a­tions make up only 2 per­cent of the com­pany’s sales, which have been fall­ing. Revlon de­clined to com­ment.

Global sales dropped 1.3 per­cent to $1.02 bil­lion in the nine months ended last Septem­ber, com­pared with the same pe­riod in 2012. Rev­enue in Asia de­creased 3.5 per­cent to $166.8 mil­lion dur­ing that time. The de­par­ture from China will save Revlon $11 mil­lion a year, the com­pany said in a reg­u­la­tory fil­ing. (Photo 1)

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