Revlon taps Goldman to explore strategic options: Bloomberg

(Reuters) - Cosmetics maker Revlon Inc (NYSE: REV) has tapped Goldman Sachs Group Inc (NYSE: GS) to explore options for its business, Bloomberg reported on Thursday, citing people familiar with the matter.

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 and Estee Lauder (NYSE: EL).

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. (https://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)

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