Revolution Beauty plots US expansion as sales soar

Wednesday 24 November 2021 7:25 am

Revolution Beauty’s half 12 months outcomes have been lifted by surging demand for make-up amid the worldwide lifting of lockdown restrictions.

In the six months to 31 August group income climbed 39 per cent to 78.6m with shops within the USA leaping by 102 per cent and UK sales up by 78 per cent.

While Revolution Beauty elevated its loss after tax to £15.2m, down from a lack of £6m a 12 months prior, the group is pushing forward with a US retail expansion to 2,800 new shops within the last quarter of the 12 months. Next, Fashion Nova, River Island and Forever 21 will start promoting Revolution Beauty merchandise in line with as we speak’s replace.

“This is a momentous 12 months for Revolution Beauty,” stated group chief government Adam Minto.

“We doubled sales within the US, grew our world group to virtually 7 million, and floated on the London Stock Exchange,” he added, referencing the corporate’s AIM listed IPO in July 2021.

Minto pinned the corporate’s success all the way down to its digital advertising technique spearheaded by influencers and a social media led method.

The firm foresees additional progress within the months forward with buying and selling within the third quarter pushed by buying and selling in October forward of Halloween and momentum persevering with into the Christmas season. The firm bought haircare and skincare producer Medichem in October 2021, giving the corporate better management over its provide chain and permitting it to chop its value base going ahead.

The firm is assured of assembly full 12 months expectations.

Read extra: Revolution Beauty plans launch in 100s of UK shops amid booming progress

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