Ownership changes
In 1971, Lanvin-Charles of the Ritz was acquired by pharmaceutical company E.R. Squibb & Sons (later Squibb Corporation).[8] Salomon continued to lead the company until his retirement in 1972. He later served as chancellor of Brown University from 1979 to 1988 and as chairman of the board of the New York Public Library from 1977 to 1981.[4][9]
In 1977, Yves Saint Laurent Beaute launched Opium. In 1978, Ritz introduced a new women's fragrance, Enjoli, designed (as noted in its television commercials) as "the eight hour perfume for the 24-hour woman"; the commercial's theme song was a remake of Peggy Lee's 1963 hit song "I'm A Woman". In 1984, Charles of the Ritz launched Forever Krystle and Carrington, successful fragrances based on American television drama Dynasty characters.
In 1986, Squibb sold the entire division to the Yves Saint Laurent company for $500 million, which invested heavily in a new men's fragrance called Jazz. Jazz was not particularly successful and, coupled with the October 1987 market crash, Yves Saint Laurent sold Charles of the Ritz Incorporated (excluding Yves Saint Laurent Beaute) to Revlon in 1987.[10] Still reeling from its unsuccessful takeover attempt of Gillette in 1983, Revlon declared it was interested in several acquisitions and also bought Max Factor, Almay, Halston, Borghese, and Germaine Monteil.
Under Revlon, the brand Charles of the Ritz began to slip in image and prestige. In 1991, it launched a line called Express, aimed at a more-savvy customer. The brand became associated with mid-price stores, including J. C. Penney, and maintained a focus on the "mature" customer. After several years of unsuccessful revival attempts (including an endorsement deal with Kathie Lee Gifford for its Timeless line) and facing massive debt, Revlon put (among many others) the line for sale, but had no takers. Analysts suggested the very name – Charles of the Ritz – lacked consumer recognition.
