Revlon, the American cosmetics pioneer in the early twentieth century, was founded in 1932, and was the first American cosmetics company to offer its products in supermarkets with high quality and reasonable prices, but today it has been affected by the turmoil of global supply chains, as the company filed for bankruptcy last week.
According to Arab Net, Revlon said the supply chain disruptions in the spring led to stiff competition for the ingredients used to make its products. At the same time, sellers who traditionally offered up to 75 days of payment began demanding cash and advance payments for new orders, and the company also complained of labor shortages and inflation.
Experts believe that these are not the only reasons that led to the bankruptcy of the company, there is a series of events that led to this fate.
In the 1970s, Revlon went public, and the company borrowed heavily to expand its business and could not meet its obligations.
