Reliance Industries may buy out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy.

The Mukesh Ambani-led Indian oil-to-retail conglomerate is now considering a bid for a cosmetics manufacturer that has filed for Chapter 11 bankruptcy in the United States.

Since its founding in New York City 90 years ago, the company has been a mainstay on store shelves, overseeing a stable of household names ranging from Almay to Elizabeth Arden.
Revlon, on the other hand, failed to keep up with changing tastes, being slow to follow women as they switched from flashy red lipstick to more muted tones in the 1990s.