Revlon cuts jobs, drops new products
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Tue, 26 Sep 2006 11:02:00 GMT |
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Jack Myers |
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CHICAGO: Cosmetics company Revlon Inc. is cutting 250 jobs and discontinuing its recently launched Vital Radiance cosmetics line intended for older women as part of a restructuring plan.
The announcement comes a week after the company sacked its president and chief executive officer Jack Stahl and replaced him with its chief financial officer David Kennedy. Revlon is controlled by Ron Perelman, a financier.
The job cuts should lead to about $29 million in charges and annual savings of about $34 million, the company said.
Revlon will abolish the positions of executive vice president and chief marketing officer, held by Stephanie Klein Peponis, and executive vice president and chief creative officer, held by Rochelle Udell. Brand marketing heads will report directly to Kennedy. It is also eliminating the position of executive vice president and president of international, which was held by Tom McGuire.
The company has already eliminated some 165 jobs in February.
Revlon is saddled with heavy debts and it is working on a refinance arrangement for its 8-5/8 per cent senior subordinated notes, which mature in 2008. The company also plans to issue about $75 million of equity in late 2006 or the first quarter of 2007 and use the proceeds to reduce debt.
The company expects to incur about $63 million in charges in the third quarter related to the end of Vital Radiance. It has cut down its 2006 earnings forecast and said sales should fall short of market expectations.
For the third quarter, the company said it expected a loss of $135 million and net sales of $280 million to $290 million. For the full year, the operating loss is expected to be approximately $45 million to $55 million on net sales of around $1.3 billion.
Copyright,
respective author or news agency
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Bring back Vital Radiance
By:
Carole maugh ,
Mon, 22 Oct 2007 19:42:11 GMT
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The line of Vital Radiance product was great line of product for the middle age women who still cares about looking young. Please bring it back! The teenage make up just doesn't work.
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Vital Radiance Makeup line
By:
Heidi NorCal ,
Mon, 24 Sep 2007 17:58:13 GMT
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Try ebay for any Vital Radiance Makeup. this is a very good makeup for older women. It's a shame for Revlon to stop making it. WE NEED TO BOYCOT ALL OTHER REVLON PRODUCTS UNTIL THEY BRING BACK VITAL RADIANCE.
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Vital Radiane
By:
Lynn ,
Sun, 16 Sep 2007 14:56:17 GMT
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I am one of the unfortunate people who didn't stock up on Vital Radiance makeup before it was discontinued. I am very disappointed. I really liked the product.
I wish they Revlon would bring it back.
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VITAL RADIANCE
By:
MRS. BOBBIE TARANTINE ,
Wed, 12 Sep 2007 02:24:37 GMT
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I'M SO DISSAPPOINTED THAT REVLON HAS DROPPED THE LINE, WHAT A GREAT PRODUCT-I'M GLAD I STOCKED UP ON IT, I USED EVERYTHING THAT WAS CARRIED IN THE LINE.
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VITAL RADIANCE LOSS
By:
Renee ,
Sat, 08 Sep 2007 00:33:11 GMT
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BIG MISTAKE!!!!
these primers are the best product out there!!! I work for Walgreens in the cosmetic dept and I have customers ask for this product weekly..I myself along with my freinds at work use this product its the best out there..plz bring the primer back at least!!
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Vital Radiance
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Merri Allyson Platt ,
Wed, 08 Aug 2007 03:02:05 GMT
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I finally found a make up that I liked and now I want some more and can't find it. Where did Vital Radiance go?
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Vital Radiance
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Debby Labye ,
Sat, 04 Aug 2007 11:59:01 GMT
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I LOVED Vital Radiance! I went out and bought the works. If I'd known that it was being discontinued, I'd have bought crates of it! I am 59 and had lots of comments about the appearance of my skin when I wore VR. Please, please bring it back!!!!!!!!!!!!!!!!!
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vital radiance
By:
saddened sherrie ,
Fri, 20 Jul 2007 01:19:27 GMT
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I too am so terribly disapointed in REVLON!!! I am 46, and have used many REVLON products since I was a teen. I truly loved the VR powder blush and was almost out, went to the store to repurchase and to my disappointment, find that it has been discontinued. There are MANY REVLON prods. that have remained on the shelf for years and years that can't still be all that popular, so why don't you remove them and bring back something that was truly a great product. I today still use your eyeliners, but will DISCONTINUE!!!!!! doing that and will also have my 40-something friends do the same. Maybe we can all stab you-- REVLON-- in the gut as you have done to us!!!! Hope you will let the decision makers read all of these replys.
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vital radiance
By:
m ,
Sun, 24 Jun 2007 18:55:26 GMT
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What a shame , no more Vital Radiance . For the first time I found a product that worked so well for me. Maybe I'm angry in what I am about to say , I know the company must do certain things to keep it up and if it's not doing well, changes have to be made.......But, like everything else who suffers?????(the consumer)
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Vital radiance face primer
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Kay Young ,
Sun, 17 Jun 2007 19:04:21 GMT
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I'm almost out of Vital Radiance face primer Apricot -warm, stopped by Walgreens today, to be told that they discontinued the product. I figured, no problem, I'll look on on the computer to see who else carries it. My surprise - the whole line is discontinued. Very seldon do I find a product that does what it claimes. I'm sorry that you discontinued a very good product. If any one knows where I can still get my hands on some, please let me know. Thanks
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Vital Radiance GONE.....Oh No!
By:
Carolyn Schwartz ,
Wed, 13 Jun 2007 00:53:28 GMT
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I am one of the baby boomers (well over 50) who had finally found a makeup that looked good, didn't dry my already dry skin out more & looked as good in the evening as it did when I put it on in the morning. I am devasated, to say the least, to fine that Revlon has taken this wonderful product, which, by the way, I discovered in a AARP magazine, away from us. Please bring it back or someone tell me about another product that works as well. Unfortunately, I doubt anyone can.
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Vital Radiance
By:
ISABEL ,
Tue, 05 Jun 2007 17:17:23 GMT
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If you are not producing this products-VITAL RADIANCE, sell the Ingredients to Loreal or Almay and have them produce it, getting A % of the product (contract???:)). DO something SMART for a Change. We would like to see it back on the shelves...but not as Expensive..remember a lot of the baby boomers are on set income (unfortunate)...
I did what most of the ladies have said, I recommended the product to my 3 sister and mother went out bought if for them...then we go back a couple weeks later and its gone....WHAT!!!!@%&^*
It is lamentable the cutting of 250 jobs, may God those people and help your company get back on its feet.
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Vital Radiance
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Jan Maietta ,
Sat, 02 Jun 2007 22:52:43 GMT
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I am very dissappointed that Revlon has chosen to discontinue this product line -- since I began using it when it was released, I have had several compliments. People were asking me if I had a face lift. In fact, several of my friends even switched to the Vital Radiance line. Please bring it back!!!! or do you have a similar product that will help the "baby boomer" woman???
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Vital Radiance
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Terry ,
Sat, 26 May 2007 18:09:09 GMT
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I am shocked to find the entire line was pulled. I had a hard time finding it in the first place. Boo hiss to Revlon if they think this will save money. We are women, hear us roar, Revlon. If we continue to bombard them, maybe they will listen. Our age group is large enough to make a difference.
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vital radiance
By:
kathleen hughes ,
Thu, 24 May 2007 12:28:00 GMT
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This was a great line of makeup. After all these years I finally found one that I really liked. Then to go to the store and find it missing. This is terrible. Revlon should should go under.
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Vital Radiance - where to buy excess stock?
By:
Kris Woods ,
Mon, 30 Apr 2007 19:54:26 GMT
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Well, if they're going to discontinue a great product line, they could at least put something on their website telling us where we can buy old stock. I've been looking for it in stores for 3 months and decided to go online today and found the name of the product has been wiped from their site. If they sell the line to another company, I hope someone lets the public know.
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Vital Radiance products
By:
Delores Smith ,
Sun, 29 Apr 2007 02:54:51 GMT
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I bought almost every product in this line. I went to Wal-Mart and Walgreens today and the line had disappeared from the shelves. Noone could even tell me why. I love this make-up and cannot believe that Revlon did this. There were ads everywhre, a number to call and someone helped you get your correct samples and now it is gone. Does anyone have any that we can purchase. I hope Revlon goes broke. Who needs them.
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Vital Radiance
By:
Linda Kliegl Genco ,
Wed, 25 Apr 2007 13:01:45 GMT
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I cannot believe that after you got all of us "mature" women to get hooked on your products that you'd just toss it in the can. Shame on you!
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Bring back Vital Radiance!!!
By:
Ms Over 40 ,
Mon, 09 Apr 2007 01:59:16 GMT
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Re: Vital Radiance Cosmetic
Please... whatever you can do, please bring this wonderful product back. I will never buy Revlon again if this is the way they treat one of the largest demographic consumer groups. I trusted you, and you have let us down. Cut out the fat somewhere else, how about on the fly by night fadish cosmetics that tweens where once and never again. We fall in love with this VR product and plan on using it for years! You have truly made a very big mistake.
I will e-mail all my 40 on up friends and together we will stop buying Revlon - you don't care about us!
Forward to the Pres of Revlon and see if they care!
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Vital radiance
By:
marion frescura ,
Fri, 23 Mar 2007 18:45:17 GMT
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I loved loved all those products, now have disappeared from all my favorite stores, WALMART,
TAGET, CVS,,GIANT EAGLE,,
Anywhere,I can find some???? anything???
Sorry to see it go, wonderful products for older women, for sure,
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