Revlon has recently announced Mr. Serge Jureidini as President for its Elizabeth Arden and Fragrances divisions. Mr. Jureidini will be reporting directly to Mr. Fabian Garcia, President & CEO of Revlon. Mr. Jureidini took the leadership mantle from Ms. JuE Wong, President, Elizabeth Arden, and Mr. George Cleary, President Fragrances, both of whom have recently resigned from their positions. With around 25 years of experience in luxury beauty and fragrances and with leadership positions in companies like L’Oreal, he seems to be a good fit for the current role.
Where Do Things Stand Now?
Post its acquisition of Elizabeth Arden, a luxury beauty company, it is estimated that the contribution of fragrances in Revlon’s product portfolio has increased from an erstwhile 4% to around 28%. Along with this, Elizabeth Arden helped Revlon in increasing its presence in international markets where the growth for beauty products are on a rise. Revlon’s exposure to the travel retail segment is also expected to grow because of Arden’s strong presence in the channel.
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Revlon’s current focus area is to become a $5 billion dollar company by the next five years. Revlon’s brands have recently been reorganized under four teams where each team focuses on one of the segments, namely, the Revlon brand; Elizabeth Arden’s products; Fragrances; and the rest of the brands belonging to Revlon (Almay and others).
The four global teams are responsible for chalking out their three-year growth plan for their respective brands. The advantage of the specialized teams is that they can react and adapt to changing market demands faster than the whole company could have done as a single entity.
How Does Mr. Jureidini Fit Into This?
Mr. Jureidini has a total of 25 years of experience in the beauty industry out of which he spent almost 20 years in management roles at L’Oreal in its Luxury Division in EMEA, Asia, and North America with his latest position being the President of the Designer Fragrances Division in New York and President of Lancôme USA. In his most recent job, he served as the President and CEO of Arcade Beauty, a private equity owned global company which works on multisensory sampling solutions for the beauty industry. Being with the global beauty leader, L’Oreal, for almost two decades and that, too, in its luxury segment gives Mr. Jureidini the necessary expertise and competence required to lead another luxury brand, Elizabeth Arden, into success.
With his vast experience in the beauty industry, Mr. Jureidini is expected to help make the turnaround for Revlon. His vast knowledge about the prestige beauty segment, including leadership experiences in fragrance and franchisee brands, is expected to put him in a strong position to steer Revlon’s Elizabeth Arden and Fragrance divisions successfully ahead.
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