Revolution Beauty buoyed by make-up sales rebound after end of lockdown – 365 RETAIL

Creative Retail Awards winner Revolution Beauty has reported surging sales because it noticed make-up demand rebound after lockdown restrictions eased.
However, the corporate additionally noticed losses widen for the half-12 months on the again of rising prices.

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The group, which floated in London earlier this 12 months, posted a £15.2 million loss after tax for the six months to August 31, in contrast with a £6 million loss for a similar interval final 12 months.
The enterprise mentioned sales surged by 39% to £78.6 million for the half-12 months because it hailed a “momentous” interval for the model.
Sales have been boosted by an uplift in its make-up merchandise as clients returned to socialising once more following lockdown restrictions.

Adam Minto, chief govt of Revolution, informed the PA information company: “We noticed a very sturdy exhibiting from skincare and haircare merchandise throughout lockdown and that has remained sturdy.
“But we have now now actually benefited from the return of make-up, with folks going again to highschool, faculty and the workplace.
“Halloween was actually sturdy and early Black Friday sales are trying good, so we’re actually optimistic concerning the peak season.”
The group mentioned peak sales are usually in November and December, with the corporate highlighting it’s properly stocked and has not seen shortages amid provide chain pressures.
It added it has seen an increase in transport prices in latest months however informed shareholders it has mitigated these with value financial savings.
Mr Minto added: “We stay assured of assembly market expectations for the total 12 months, although we proceed to be aware of ongoing volatility and disruption prompted by the pandemic.
“The medium and lengthy-time period development drivers and alternative in mass magnificence stay sturdy, and we’re assured in our technique, the resilience of our enterprise mannequin and our differentiated merchandise as Revolution Beauty continues to win new clients world wide.”
 

https://365retail.co.uk/revolution-beauty-buoyed-by-make-up-sales-rebound-after-end-of-lockdown/

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