(AOF) – Revlon soared more than 70% in the pre-opening of Wall Street. The Indian conglomerate Reliance Industries is considering buying the cosmetics manufacturer, according to information from the ET Now channel. Recall that Revlon placed itself under the protection of US bankruptcy law a few days ago.
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Two fundamental trends linked to Covid
The health crisis has reinforced the development of digital in a sector that is not very oriented towards e-commerce. Its share has doubled in two years to reach 22% in 2021, or 62 billion euros. Accessories, sneakers and beauty products are top sellers. According to Bain, digital should become the leading luxury sales channel by 2025. Players like Kering therefore want to increasingly internalize the management of their sites. The other fundamental movement linked to the health crisis, and which is part of a logic of sustainable development, is the boom in the second-hand market. It has jumped 30% since 2019 and represents 12% of the total market. These changes are driven by the younger generations, while 25-40 year olds should represent 70% of buyers in 2025, compared to 45% in 2019.