March 13, 2008
Revlon Gets a $70 Million Lesson in Brand Naming
The problem was that Revlon disassociated its extremely valuable brand naming from the Vital Radiance line. It was a deadly mistake that ended a product that was actually very good. I can’t seem to find a word against it in the blogosphere. Some investors still have lots preferred stock faith in Revlon despite the recent debacle, which has cost the jobs of many of the senior management and created $70 million in losses, ouch!
Revlon’s new strategy will be to use the power of the Revlon name to launch new products, something they should have done with Vital Radiance.
Revlon strayed from this basic marketing mantra because of its perception that new products, rather than well known brand naming, rule the day in the make-up world. Well, Vital Radiance was a great product, but without the Revlon name and the names of one or two glamorous models behind it, it failed. Better luck next time, Revlon.
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