Revolution Beauty of Sheppey which counts Khloe Kardashian among fans and is top-rated on ASOS set to join stock market in move that could value brand at £500m

A cosmetics brand based mostly on Sheppey is set to join the London stock market this month in a move that could value the brand at as a lot as £500 million – and safe the longer term of the enterprise and its staff on the Island.Revolution Beauty was based seven years in the past by Tom Allsworth, a born and bred Islander, and Adam Minto.Tom Allsworth of Revolution BeautyRevolution, which makes use of social media influencers to market its merchandise, is now offered in 11,000 outlets globally, together with Superdrug in the UK and has attracted fans together with Khloe Kardashian.It is additionally offered on its personal web site plus different websites equivalent to Beauty Bay and ASOS, the place it is ranked primary mass brand, and it has a considerable enterprise in the US the place it is offered in 3,000 Target and ULTA shops.While color cosmetics are manufactured at websites in Taiwan and China, Revolution’s skincare and haircare merchandise are made at Medichem in Queenborough, which has been on Sheppey for greater than 25 years. Medichem was, in reality, used as the bottom to launch Revolution in 2014.Since then, Revolution’s common annual revenues have nearly doubled annually and, in the 14 months to February 28 this yr, it recorded £157.6m in gross sales.Revolution Beauty is headquartered in QueenboroughThe agency, and Medichem, now have 400 employees throughout the 2, 300 of which work on the Island.As a end result of the preliminary public providing on the junior AIM market, each Mr Allsworth and Mr Minto are forecast to obtain a sizeable payout – as will TSG Consumer Partners, an American non-public fairness firm that bought 48% of Revolution in 2017.Speaking concerning the move, which would see traders shopping for and promoting shares in the corporate, Mr Allsworth stated: “Revolution Beauty has grown considerably since we began; it has been a roaring success and we’re extraordinarily fortunate. It’s gone from nothing to turning over £157m final yr. “So much of cash has been invested to get that progress, and to proceed to develop the brand it wants extra funding and the stock market supplies that capital funding.”The 55-year-old added: “This will maintain Revolution impartial and away from the clutches of the larger legacy manufacturers, like L’Oréal, that have a tendency to purchase up companies like ours.”I’m so enthusiastic about it and I feel it is such a very good factor for the Isle of Sheppey as a result of it secures the enterprise and staff’ long term futures.” Mr Allsworth and Mr Minto will, between them, retain a 30% stake in the enterprise.Revolution Beauty sells its cosmetics, all of which are licensed cruelty-free, at inexpensive costs. For extra, go to extra: All the newest information from Sheppey

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