Revlon kisses China goodbye

Cosmetics and beauty products maker Revlon Inc's decision to exit the Chinese market comes from having a failed marketing strategy, single distribution channel and weak products that don't meet local needs, experts say.

The New-York based company is leaving China after 37 years and will shed 1,100 jobs as part of cost-cutting measures, the company announced on Tuesday.

Most of the job cuts will be in China, where Revlon's operations make up only 2 percent of the company's sales, which have been falling. Revlon declined to comment on Thursday.