Revolution Beauty news and archive

Revolution Beauty posts 20 percent sales decline

For the first half year, Revolution Beauty Group revenue declined by 20 percent to 72.4 million pounds, driven by the planned simplification of the product portfolio and the discontinuation of unproductive SKUs. The company said in a release that the decline also reflects significant stock clearance activity in the first half of FY24. Commenting...

Business

Revolution Beauty: H1 net sales decline by 20 percent

For the six month period, Revolution Beauty reported a 20 percent decline in net sales to 72 million pounds, driven by the planned simplification of the product portfolio and the associated discontinuation of unproductive SKUs. The company said that the decline also reflects significant stock clearance activity in the first half of FY24....

Business

Revolution Beauty posts full year profit

Full year sales at Revolution Beauty Group increased 2 percent to 191.3 million pounds, while profit before tax was 11.4 million pounds versus loss of 33.9 million pounds in FY23. The company said that strong performance in the rest of world segment more than offset weakness in US and e-commerce. Commenting on the company’s results, Lauren...

Business

Revolution Beauty raises FY24 outlook

In a trading update for the full year, Revolution Beauty said that the group has continued to deliver a strong operational performance and year-on-year improvement in profitability since its capital markets event (CME). As a result, the board now expects to report adjusted EBITDA of at least 12.5 million pounds and revenue growth of...

Business

Revolution Beauty eyes one billion pound revenue target under new team

Now under the direction of an entirely refreshed executive team, the once struggling Revolution Beauty has its sights set on a more positive outlook, with an ambition to drive annual retail brand sales of one billion pounds by 2030. The mission comes as part of the group’s new ‘Reigniting the Revolution’ strategy, which is being put into place...

People

Revolution Beauty appoints Erin Cast as president of North America

Revolution Beauty has announced the appointment of Erin Cast as president of North America. Cast’s appointment, the company said in a statement, underlines the significance of North America to Revolution Beauty’s growth ambitions. Based in New York, she will build upon the group’s strong foundations within the large and attractive markets of the...

People

Revolution CFO steps down, completing Boohoo’s boardroom takeover

Revolution Beauty has announced that its chief executive officer Elizabeth Lake will be stepping down from the board with immediate effect. She will be succeeded by current non-executive director Neil Catto, whose planned appointment had initially been speculated back in July when the brand’s majority shareholder, Boohoo Group, initiated a...

Business

Revolution Beauty negotiating with founder over settlement funds

Following a year of mishaps and legal trouble, Revolution Beauty has confirmed that it is currently in negotiations with founder Adam Minto on a potential agreement to settle a legal proceeding brought against the former chief executive. In a release issued through the London Stock Exchange, on which Revolution is listed, the beauty brand...

People

Revolution Beauty names new CEO as FY losses narrow

Revolution Beauty has appointed former Walgreens exec Lauren Brindley as new group CEO as it revealed narrowing losses and a small increase in revenue in its most recent full-year report. The British beauty giant made a loss of 33.6 million pounds in the 12 months to February 28 compared to a loss of 44.3 million pounds in FY22, while revenue...

Business

Boohoo once again ups stake in Revolution Beauty

Following the settlement of an ongoing rift between the duo, fashion group Boohoo has once again upped its stake in British cosmetics firm Revolution Beauty. Boohoo, which was already a majority shareholder in the beauty label, has now increased its holding from 26.5 percent to just over 27.1 percent. The group first snapped up a stake in...

Business

Revolution Beauty to face probe by UK conduct authority

Revolution Beauty appears to be in another spot of bother as it now faces an investigation into potential breaches of market abuse regulation between July 2021 and September 2022. The UK’s Financial Conduct Authority (FCA) notified the British beauty brand of the probe on Friday. Last year, the company was subject to an independent investigation...

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Boohoo Group and Revolution Beauty reach settlement agreement

Following a long-winded public spat between Revolution Beauty and its majority shareholder Boohoo Group, the duo have now said that a settlement agreement has been reached, which will see the beauty firm’s board implement some major changes. Among the shifts, Revolution’s current non-executive chairman Derek Zissman and its CEO Bob Holt have...