Revlon aims for US$5b in sales with revitalised brands

New York

REVLON Inc, the beauty giant that bought Elizabeth Arden Inc last year, aims to reach US$5 billion in sales within five years by reinvigorating brands and stepping up marketing.

Chief executive officer Fabian Garcia, speaking to employees in a video memo, said that Revlon would become a top 10 global beauty brand by hitting that target. Including Elizabeth Arden, the company generates US$3 billion in a year in sales. Prior to the combination, Revlon ranked 22nd, according to Women's Wear Daily. "Brands don't get old, marketers get lazy," Mr Garcia said. "Instead of going out and paying outrageous valuations for new brands, we need to spend that money rebuilding and revitalising our iconic brands."