Revlon Group ANZ is in the market for a new media agency, with the RFP process understood to be underway.

The account encompasses media duties across the company's portfolio of beauty brands, including the flagship Revlon cosmetics brand, as well as Elizabeth Arden, Cutex, Mitchum and Juicy Couture.

The incumbent is indie agency AFFINITY, which is understood to have quietly taken over the account from IPG Mediabrand's Initiative several years ago and has worked on the brand's recent ambassador campaigns with Delta Goodrem.

Revlon's local agency roster is rounded out by fellow indie agencies Emotive and Stark Matthews, which handle creative and PR respectively.

Initiative was previously handed the account as part of a global appointment in 2018, taking over from predecessor Mediacom, which after eight years with the business chose not to contest the account.

Mi3 was not able to confirm the exhaustive pitch list, however, it is understood that Initiative will not be taking part. AFFINITY did not respond to Mi3 request for comment.

It's understood to be Revlon's first media pitch in the ANZ market since its US parent company filed for Chapter 11 bankruptcy protection in the US in June 2022 - an outcome that some attributed to the company's failure to adapt to a social-first marketing strategy as quickly as other beauty players.

After handing control of the global business to its lender, BrandCo, and cutting more than US$2.7 billion in debt, Revlon emerged from bankruptcy in the first half of 2023. The resulting financial restructuring of the business wiped out the equity value of its existing shareholders, including the 85 per cent share held by Ron Perelman's MacAndrews & Forbes - his daughter, Debra Perelman, remains Revlon's global CEO.

Revlon ANZ declined to comment.

- Additional reporting by Kalila Welch