Garcia says innovation across both consumer and professional segments contributed
Revlon is on a strong sales streak, having registered a second consecutive quarter of growth.
The US cosmetics conglomerate, which recently announced a deal to acquire Elizabeth Arden, saw net sales reach roughly $489m in Q2 2016, up from $439.6m in Q1 2016 and $482m in Q2 2015.
President and CEO Fabian Garcia, said: “I am delighted with our continued trajectory of net sales growth in the second quarter. Once again, growth was fuelled by product innovation and strong performance by established brands in both the Consumer and Professional segments.”
Garcia said the most salient innovations in its consumer segment included Revlon’s new mascara collection, Ultra HD Matte lip colour and the Kylie SinfulColors SinfulShine nail polish range. Outside of the colour category, Mitchum anti-perspirant deodorants and newly-acquired Cutex nail products were said to have “performed well”.
In the professional segment, American Crew’s special edition line of Elvis Presley grooming products, which launched in March, generated strong sales in salons.
Garcia took the opportunity to address the $870m Arden acquisition, announced in June. He said: “We are very excited about the strategic long-term growth platform that this acquisition will provide for us to enter into new categories, channels and markets.”
The deal is planned to close by the end of this year, subject to customary closing conditions.