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

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-year on the again of rising prices.The group, which floated in London earlier this yr, 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 yr.The enterprise mentioned sales surged by 39% to £78.6 million for the half-year because it hailed a “momentous” interval for the model.Sales had been boosted by an uplift in its make-up merchandise as clients returned to socialising once more following lockdown restrictions.

Halloween was actually robust and early Black Friday sales are wanting good, so we’re actually optimistic in regards to the peak seasonAdam Minto, RevolutionAdam Minto, chief government of Revolution, instructed the PA information company: “We noticed a very robust exhibiting from skincare and haircare merchandise throughout lockdown and that has remained robust.“But we have now now actually benefited from the return of make-up, with folks going again to high school, school and the workplace.“Halloween was actually robust and early Black Friday sales are wanting good, so we’re actually optimistic in regards to the peak season.”The group mentioned peak sales are sometimes 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 delivery prices in current months however instructed shareholders it has mitigated these with price financial savings.Mr Minto added: “We stay assured of assembly market expectations for the complete yr, although we proceed to be conscious of ongoing volatility and disruption prompted by the pandemic.“The medium and long-term progress drivers and alternative in mass magnificence stay robust, 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 all over the world.”

https://www.unbiased.co.uk/enterprise/revolution-beauty-buoyed-by-makeup-sales-rebound-after-end-of-lockdown-b1963496.html

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