In Brief: Revlon
This article was originally published in The Rose Sheet
Executive Summary
Revlon: Begins initial public offering of 7.5 mil. shares of Class A common stock at $24 per share on Feb. 29, the firm said. The stock closed the first day at 27-5/8, trading as high as 29-5/8. Six million of the 7.5 mil. shares will be offered in the U.S. and Canada. The offering is being underwritten by Merrill Lynch and CS First Boston, who have an option to purchase up to 1.1 mil. shares for over-allotments. If all over-allotments are excercised, the company stands to gross $206.4 mil. before underwriting discounts and offering expenses. The offering price is higher than the initial price range of $19-$22 disclosed in an amended prospectus for the company's IPO filed Feb. 5 ("The Rose Sheet" Feb. 12, p. 2). Revlon first announced it would go public Nov. 17...
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Marketing In Brief
ModiFace launches forecasting tool: Toronto-based virtual makeover firm introduces ShadeCast, a makeup sampling and forecasting tool based on behavioral tracking. ShadeCast is used in conjunction with iPhone application MakeUp, which allows consumers to virtually try on makeup in hundreds of shades from brands including Revlon, Cover Girl, Lancome and Clinique. ShadeCast offers 1,000 cosmetic shades from 40 brands and assigns a ShadeScore "to approximately position the [app's] hottest and most sampled color." ModiFace exec Nikkie Gatto likens the app to radio music playlists, helping consumers "looking to capture the current look, but also provide vital market intelligence to our retail channel partners," she says in Nov. 3 release. "The value of data to demonstrate the aggregate behavior will help the industry predict the latest trends and help cosmetic manufacturers better understand the color and products which most resonate with online and iPhone virtual makeover users," the company says