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In 2024 half-year results, the British beauty brand has seen revenue growth of 20 percent and an EBITDA increase of £14.3 million. The group is upgrading its guidance for the full year to double-digit millions for the 2024 fiscal year.
It’s an about-face for Revolution Beauty, which specialises in low-cost products and so-called “dupes”, as it has had a tumultuous year.
It originally floated for £500 million ($621 million) on London’s junior stock market, AIM, in 2021, but shares were suspended from trading after auditors raised concerns about accounts by the following year. Its 2022 annual results were not published.
Earlier this year, a public stoush with its largest shareholder, fast fashion retailer Boohoo, resulted in an executive reshuffle. New group chief executive Lauren Brindley, previously at Walgreens, and new chief marketing officer Alison Hollingsworth, a Charlotte Tilbury alumnus were brought on to right the ship.
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In a statement, Brindley described the brand’s “enduring relevance” and “strengthened financial performance.”
”While there is still lots to do, we are on the right trajectory, and I am developing a strategic plan with our new executive leadership team to ensure we are best placed to deliver future growth.”
Learn more:
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The makeup company faces accounting investigations and shareholder calls for better management.
