- Thursday, February 27, 2025
By: Shubham Ghosh
INDIA’S Reliance Industries is mulling buying out American cosmetics giant Revlon, days after the latter filed for bankruptcy, ET Now on Friday (17) cited sources to report.
Revlon filed for bankruptcy earlier this week as disruptions in the global supply chain raised costs of raw materials and vendors sought upfront payments.
Reliance has in recent months made inroads in fashion and personal care space.
Once the report came out, shares of Revlon rose up 20 per cent to $2.36 in pre-market trade. Reliance was also up by almost two per cent on the Bombay Stock Exchange index.
