THE WHAT? Revlon has filed for bankruptcy, listing assets and liabilities of between US$1 billion and US$10 billion in a court filing.
THE DETAILS According to a report by Reuters, the company expected to get US$575 million in debtor-in-possession financing from its existing lender base upon receipt of court approval.
None of Revlon’s international units, except Canada and the UK, are part of the Chapter 11 bankruptcy proceedings.
THE WHY? The cosmetics company is said to have flailed under mounting debts as it attempted to stay abreast of online start-ups, and has also been hit by supply issues and COVID-19.
Debra Perelman, Revlon Chief Executive, said, “Our challenging capital structure has limited our ability to navigate macro-economic issues.”
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
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Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
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Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
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Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
