PERELMAN’S PEARLS, REVLON’S CUTS: It looks like print publishers waiting to land that big Revlon media buy might have to keep waiting.
Revlon Inc. chairman Ronald Perelman, who acknowledged in an CNBC interview that he doesn’t use computers, said the cosmetics company is dramatically changing how it reaches customers.
“We at Revlon never used social media,” he said Thursday. “In 2013, we will be 30 percent social media, digital. You talk about disruption, that takes away. We’re going to drop our print by about 25 percent.”
The billionaire financier said Revlon’s sales would grow by 2 to 3 percent this year, but noted that costs across the businesses he owns have been cut back.
“We have rationalized the last five years,” Perelman said. “That’s good news for the operating companies around America. It’s bad news for the unemployment rate. Those people that we laid off in 2008 and 2009, there’s no need for us to hire back. We’ve gotten more efficient. We’ve gotten more productive.”