Revlon SWOT analysis – SWOT analysis of Revlon: Revlon is an American makeup and cosmetics company which is headquartered in New York. The company that is a specialist in makeup comes with many products such as foundation, concealer compact, face powder and blush, eyeshadow and mascara, eyebrow pencil, eyeliner, nail paint lipstick, and lip gloss among other items.
The company serves customers from all over the world. Revlon offers makeup that is suitable for different skin types and complexions. Apart from essential makeup items, Revlon also has a presence in the area of hair care that sells shampoos, conditioners, and shampoos as well as hair serums, colorants, and smoothness. Revlon has an annual revenue of 2.3 billion dollars and is among the most renowned cosmetics and makeup brands worldwide.
Revlon was established in 1932, as a company that produced nail polishes. The range of products they offered was larger and the company offered more shades than the competition, thus drawing the attention of consumers. Since then, there’s no stopping Revlon that has been a constant source of the success of every step.
Revlon fun facts: Revlon was the first beauty brand to create opaque nail polish in 1932 — Cherries in the Snow
About Revlon – SWOT analysis of Revlon
Company: Revlon, Inc.
CEO: Debra Perelman
Founder: Charles Revson
Year founded: 1 March 1932, New York, New York, United States
Headquarters: New York, New York, United States
Annual Revenue: USD$2.1 billion
Profit | Net income: USD$182.1 million
Number of employees: 6,000
Products & Services: Color cosmetics | Hair color and care | Skincare | Beauty care | Fragrances
SWOT analysis of Revlon – Revlon SWOT analysis
SWOT Analysis Of Revlon is brand-based. SWOT Analysis of Revlon evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Revlon’s SWOT Analysis. Below is the detailed SWOT Analysis of Revlon.
Let’s talk about Revlon’s SWOT assessment.
Strengths of Revlon – Revlon SWOT analysis
- The history of the brand: Revlon which started in the beginning by selling nail polish with an innovative marketing plan was transformed into an enterprise worth millions of dollars in only six years. The drive to creativity and a deep understanding of the needs of customers that led to their success in the past is in its culture business and is what has helped the company today.
- High engagement with customers: Revlon has always attempted to keep in touch frequently with their customers, taking feedback and enhancing their products. In addition to the 24/7 online helpdesk. Revlon also offers Revlon woman online, an online platform where customers can express themselves and create online profiles.
- Brand endorsements: Revlon has always made its goal to work with famous stars who are the epitome of beauty. The company’s brand endorsers are Halle Berry, Emma Stone, Ashley Graham, Raquel Zimmerman, and others.
- Marketing approach: Revlon has always adopted a think global do locally method in advertising that enhances the relationship with the consumer. The content is typically universal for every advertisement, but the location, as well as the storyline and actors in commercials, should be tailored to the local tastes and audience.
- Charity commitment: Revlon has always focused on giving back to society and communities. A large portion of their charitable initiatives focuses on empowering women in need and aims to improve the overall health and well-being of women across the world with free health checks ups and mobile cancer screening camps, etc.
Weaknesses of Revlon – SWOT Analysis Of Revlon
- Acquisition of Elizabeth Arden: Revlon acquired the leading cosmetics brand Elizabeth Arden for a whopping amount of 420 million USD in the year 2016. The company incurred losses following the purchase, which didn’t provide the necessary results.
- Consumer behavior changes: The surge in specialty cosmetics stores, as well as online stores, has altered the ways that customers purchase cosmetics, as well as their choices. This shift in consumer behavior requires a change in strategy, especially for multinational companies such as Revlon.
- Growing Debt: Revlon is suffering from increasing losses over the last couple of years. The losses that have increased dramatically have led to debts of 3 billion dollars.
- Limited concentration on the younger people: Revlon has been focusing more on an older and more mature audience to serve the business. But, in the recent past, companies in the cosmetic industry have been buying brands for youth to get the attention of younger consumers, which Revlon hasn’t been able to effectively.
Opportunities of Revlon – Revlon SWOT analysis
- Market potential: The next largest potential markets that cosmetics firms can tap are BRIC countries, namely India in addition to China. The market in market for cosmetics is predicted to be massive in these areas and the total growth of the markets is estimated to be 15 billion dollars. It is projected to increase by between 22 and 25 percent over 5 to 6 years.
Threats of Revlon – SWOT analysis of Revlon
- Contest: The main competitor of Revlon is Loreal, Estee Lauder, Mac, and Sephora.
- Chemical content: Customers becoming more worried about the chemicals in their makeup and they are looking at natural makeup and mineral cosmetics. Revlon has yet to establish an established presence in the field of organic and mineral makeup.
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Revlon’s worldwide business is showing signs of life, and this might be the company’s main driving force in the future. Revlon’s brands are all getting a facelift since the first quarter of 2018. The company is working to make its products more appealing to millennial beauty users, the most sought-after demographic that drives the beauty industry’s sales. It’s also attempting to update some of its brands that are appealing to the younger generation through some digital marketing schemes.
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