Boohoo has increased its ownership of issued share capital in Revolution Beauty to 26.47 per cent.
In a statement to the stock exchange, Boohoo said the investment “builds upon the existing relationship between boohoo and Revolution Beauty.” Boohoo had previously more than doubled its stake in the Kent-based business to 7.1 per cent in August this year.
The Manchester fashion brand added that it believes Revloution has strong growth potential, adding that it “intends to be a supportive stakeholder and long-term partner.”
Revolution Beauty is a global mass beauty and personal care brand which is already sold through several of Boohoo group’s direct to consumer brand websites and its online digital department store, Debenhams. It was established in 2014, and its products are can be found in 11,000 stores worldwide. It also operates both direct to consumer and third party online sales, with third party partners other than Bohoo and its associated brands including Prettylittlething, ASOS and Amazon.
When Revolution Beauty first floated on AIM in Augist 2021 it was valued at just under £500m. It is currently undergoing an independent investigation into its audit for the year ended 28 February 2022 after accounting issues were flagged.
