Colour cosmetics have taken a big hit during the Covid-19 pandemic, especially lip products.
But boosted by Elizabeth Arden and its fragrance portfolio, Revlon has turned a corner on the road to recovery.
The US-based multinational has reported net global sales of US$445 million in Q1 2021 – a 1.8 per cent overall revenue decline by contrast to the same period last year.
Yet as makeup sales from the Revlon and Almay brands – down 11 per cent to US$162 million – continued to feel the impact of lockdowns in major markets and the widespread use of face masks worldwide, two of the company’s prestige divisions boosted the bottom line.
Elizabeth Arden posted a net sales increase of 18 per cent over the first quarter to US$112 million. Standout performers included the brand’s ceramide franchise, Visible Brightening CicaGlow Concentrate and the Green Tea fragrance collection, notably in the US and Asia.
Revlon’s fragrance division picked up steam with the overall increase in perfume sales triggered by Valentine’s Day. The high-performing stable, led by celebrity scents from Brittany Spears, Christina Aguilera and Elizabeth Taylor and designer juices from John Varvatos and Juicy Couture, enjoyed a sales surge of 13 per cent to US$74.8 million.
Going forward, the company has unveiled the new Revlon Global Growth Accelerator Program (RGGA), designed to stimulate long-term sustainable growth in both margins and revenues.
As markets around the world continue to re-open and Covid-19 restrictions loosen, we are optimistic about the rebound of the mass channel, and particularly the colour cosmetics category, noted Debra Perelman, president and CEO of Revlon.
“Our businesses in the prestige channel, including Elizabeth Arden and fragrances, experienced double-digit net sales growth in the first quarter, recovering more quickly than our businesses in the mass channel related to colour cosmetics.”