Cosmetic Center to restructure as Revlon looks to exit retail business.
This article was originally published in The Rose Sheet
Executive Summary
COSMETIC CENTER STRENGTHENS MANAGEMENT AS REVLON LOOKS TO EXIT the cosmetics retail business, the companies announced. Revlon said June 8 that, as expected, it intends "to dispose of its 85% interest in The Cosmetic Center," which it acquired in April 1997 ("The Rose Sheet" Oct. 7, 1996, p. 4). In response to the announcement, Savage, Md.-based The Cosmetic Center has taken steps to build its management team, including naming a new CEO, in an effort to create a profitable business that functions "independent" of Revlon, the retailer said.