Shares of the company rose as much as 15% on the news.
Revlon, backed by billionaire Ron Perelman, has been struggling to grow sales in a competitive market that houses several upstarts and bigger companies such as L’Oreal (OREP.PA) and Estee Lauder (EL.N).
Revlon is exploring all options, including a sale of parts or all of the business, the Bloomberg report said, adding that no deals have been reached at this time. (bloom.bg/2yX92G3)
The company, now headed by Ron Perelman’s daughter Debra, did not immediately respond to a Reuters request for comment.
Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel