Revlon’s new president and CEO Lorenzo Delpani made his public debut this week hosting a call on the company’s yearend financial results, which yielded Revlon in the red.

For the fourth quarter, sales rose 28% to $491 million or 31.2% on constant basis. Citing restructuring and costs related to its exit from China, Revlon had a net loss of $33.1 million versus net income of $46.5 million. In the U.S., Revlon’s largest market, sales were down 0.3% in the quarter with growth in Sinful Colors and Revlon Colorsilk offset by declines in Almay.

Annual sales grew 7% in 2013 to $1.49 billion, up from $1.39 billion. Excluding foreign exchange impact, sales rose 9.6%. Revlon posted a net loss of $5.8 million compared to net income of $51.1 million in 2012. Excluding Colomer’s $116.8 million revenue contribution in the fourth quarter, Revlon’s sales fell 1.3% for the year but were up 1.3% on a constant basis.

A fresh company vision is “to re-establish Revlon as the quintessential and most innovative beauty company in the world by offering products that make consumers feel attractive and beautiful,” said Lorenzo. “We are here to win.”

Priorities for 2014 are to successfully integrate the Colomer business and “preparing the foundation for future profitable growth,” said Lorenzo.

Colomer, a professional nail and hair care operation, uses a private sales force of 600, along with wholesalers and brokers, to service 37,000 salon customers. There is also a mass retail business in Spain and a multi-cultural unit featuring the Creme of Nature brand sold in the U.S. American Crew and Uniq One are among its leading hair brands, while CND is the top nail property. Sales have been growing steadily and Colomer is in “healthy shape,” stated Lorenzo, who intends to focus on innovation and a strategy of “fewer, bigger, better.”

Revlon has already identified $35 million in savings from cost of goods and backroom department mergers. Because Colomer and Revlon operate in different sectors, marketing and sales will remain independent, noted Lorenzo. Combined, Revlon Consumer Products and the new Professional division are expected to deliver annual sales of $1.9 billion.

Lorenzo said changes in Revlon’s management team are nearly complete, although he may still, “address some areas of marketing.”