Photo: Revlon, Inc
Cosmetics Brand Revlon Considering To File For Bankruptcy Owing To Massive Debts
Revlon Inc., a major worldwide cosmetics corporation, is preparing to file for Chapter 11 bankruptcy due to a large financial debt burden and supply chain issues. The negotiations are ongoing, but the decision is not final, and the approach might change. Revlon stocks dropped 53 percent in a single day on June 9. The company's sales have supposedly been declining since before the Covid-19 outbreak.
Tags: Cosmetics Brand, revlon, BANKRUPTCY, Debts, Covid-19
Courtesy: DNA India
Photo: Facebook
Nykaa Reports 58% Fall In Profit, Revenue UP By 36%
Iconic fashion brand and e-shopping site Nykaa recorded a plunge in profit. On February 9, the company released Q-3 FY and reported 58% down profit to Rs 29 crore revenue. Although the revenue was increased by 36%, the overall profit income decreased from the previous Rs 68.88 crore profit. In addition, the revenue till December 2021 increased by Rs 1,098.39 crore from the previous Rs 807.96 crores.
Tags: Nykka, Cosmetics Brand, Q3 FY, revenue, PROFIT
Courtesy: The Economic Times
