When Revlon Inc. entered bankruptcy protection for its U.S., Canada and United Kingdom operations in June, it cited "supply chain issues" as one of the causes of its fiscal shortfall.
But in addition to supply chain issues, Revlon is facing fierce competition from brands such as Fenty Beauty, owned by singer and entrepreneur Rhianna, and Kylie Cosmetics, a brand from reality star Kylie Jenner, both of which stress their sustainability in packaging and products. (Although Kylie is facing some backlash about her very unsustainable private plane trips across Los Angeles, which may hurt her messaging on cosmetics packaging.)
So with plans to restructure financing and emerge from Chapter 11 without interrupting sales to loyal customers and compete with younger brands, Revlon is also moving ahead with an eye on future sustainable packaging.
New York-based Revlon has signed a memorandum of understanding with Origin PET to use its plant-based PET developed from nonfood carbon sources, Karen Laird from Sustainable Plastics writes.
The companies are aiming to develop and commercialize new sustainable materials, or "carbon-negative materials for next-generation packaging for cosmetics packaging," Rich Riley, co-CEO of Origin Materials, said.