PETA Becomes Revlon Shareholder, Seeking Visibility Into Animal Policies
This article was originally published in The Rose Sheet
People for the Ethical Treatment of Animals has purchased stock in Revlon, with the intent to issue a shareholder resolution calling for animal-testing transparency. The activist group says other cosmetics firms may be targeted in the future.
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Second quarter sales at Revlon were up 1.7% on the strength of recent launches including Revlon PhotoReady Airbrush Mousse Makeup and ColorStay Whipped Crème Makeup. Net income totaled $11.1 million, up 70% from the year prior when the firm took a charge of $11.3 million in connection with refinancing of its bank credit facilities.
Regulators from the U.S., the EU, Canada and Japan are working to finalize reports on nanomaterials, trace impurities and animal testing alternatives following the sixth meeting of the International Cooperation on Cosmetics Regulation. The regulators came to agreements on the reports at the July 10-13 meeting in Rockville, Md., and will hammer out the details before releasing the reports this fall.
The European Commission is considering whether to limit the scope of the 2013 EU ban on cosmetics tested on animals per the Seventh Amendment to the Cosmetics Directive. A decision is expected in the first half of 2012.