Revlon, New York, will expand its ethnic makeup and haircare lines as part of the company's product strategy for 1999, according to its yearend financial statement. Plans include the launch of African Pride High Lites, a hair highlighting product, and relaunch of existing ethnic cosmetics brands. Tarlow Advertising is Revlon's in-house agency. Revlon announced today a net loss of $69.1 million for the fourth quarter, vs. net income of $41.4 million a year ago; sales dropped 1.5% to $630.2 million. For the year, Revlon had a net loss of $143.2 million, compared with net income of $43.6 million for 1997, as sales rose 0.6% to $2.25 billion. Revlon blamed the losses on restructuring costs. New products are part of its previously announced strategy to reverse the decline.
Copyright January 1999, Crain Communications Inc.