Revlon slashed its ad budget by over one-third in the second quarter, down from initial projections of $40–$45 million to $25–£30m, reported company executives yesterday in a conference call to analysts.
The draconian cutback was attributed to “increased efficiency” in marketing expenditure, due partly to falling media costs. Revlon’s agencies include Kirshenbaum Bond & Partners in New York and the same city’s Deutsch, which handles media as well as the Almay range.
Some of the money saved on advertising was used to match an increase in rivals’ spend on promotional activity, according to president/ceo Jeffrey Nugent.
Revlon has a number of new campaigns upcoming this month, among them the ‘It’s Fabulous Being a Woman’ TV, internet and print push, television spots for the High Dimension hair color range and a print and online campaign for Almay Kinetin skincare brand.
News source: Advertising Age - Daily Deadline