Revolution Beauty news and archive

Revolution Beauty negotiating with founder over settlement funds

Following a year of mishaps and legal trouble, Revolution Beauty has confirmed that it is currently in negotiations with founder Adam Minto on a potential agreement to settle a legal proceeding brought against the former chief executive. In a release issued through the London Stock Exchange, on which Revolution is listed, the beauty brand...

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Revolution Beauty names new CEO as FY losses narrow

Revolution Beauty has appointed former Walgreens exec Lauren Brindley as new group CEO as it revealed narrowing losses and a small increase in revenue in its most recent full-year report. The British beauty giant made a loss of 33.6 million pounds in the 12 months to February 28 compared to a loss of 44.3 million pounds in FY22, while revenue...

Business

Boohoo once again ups stake in Revolution Beauty

Following the settlement of an ongoing rift between the duo, fashion group Boohoo has once again upped its stake in British cosmetics firm Revolution Beauty. Boohoo, which was already a majority shareholder in the beauty label, has now increased its holding from 26.5 percent to just over 27.1 percent. The group first snapped up a stake in...

Business

Revolution Beauty to face probe by UK conduct authority

Revolution Beauty appears to be in another spot of bother as it now faces an investigation into potential breaches of market abuse regulation between July 2021 and September 2022. The UK’s Financial Conduct Authority (FCA) notified the British beauty brand of the probe on Friday. Last year, the company was subject to an independent investigation...

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Boohoo Group and Revolution Beauty reach settlement agreement

Following a long-winded public spat between Revolution Beauty and its majority shareholder Boohoo Group, the duo have now said that a settlement agreement has been reached, which will see the beauty firm’s board implement some major changes. Among the shifts, Revolution’s current non-executive chairman Derek Zissman and its CEO Bob Holt have...

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Revolution Beauty suggests compromise with Boohoo possible in coming days

Following a drawn out public spat between Revolution Beauty and Boohoo, the former has now said that a compromise position “is close and could be reached in the coming days”. A general meeting at Revolution’s offices will be held on August 7, where Boohoo’s proposed board members will be offered as ordinary resolutions. The group is seeking...

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Behind the rift: Revolution Beauty vs Boohoo Group

In what seems to have been a tug-of-war that has escalated rapidly, Revolution Beauty and Boohoo Group have been going head-to-head over who is to take control of the British beauty firm after a series of malpractices were found during an independent investigation. The tension between the two has become increasingly public, taking over headlines...

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Revolution Beauty hails ‘excellent’ Q1, opposes Boohoo’s board proposals

Revolution Beauty said Friday that trading in the first three months of the year has been “excellent” as it tussles with major shareholder Boohoo over a proposed boardroom shake-up. The British beauty giant said it swung to a Q1 EBITDA profit of 3.5 million pounds from a loss of 7.4 million pounds a year earlier, while sales jumped 60 percent....

Business

Boohoo proposes appointment of former THG CEO to Revolution Beauty board

Boohoo, the beneficial owner of approximately 26.6 percent stake in Revolution Beauty, has now proposed the appointment of ex-THG executive Rachel Horsefield to the latter’s board. In addition to the previously proposed appointments of Alistair McGeorge and Neil Catto, the company said in a release, Horsefield, who most recently worked as CEO of...

Business

Revolution Beauty mulls legal action against founder

Following on from its issues surrounding a faulty audit, Revolution Beauty has now outlined the legal action it could potentially be taking against one of its founders, Adam Minto. The company said that it had sent a letter of claim to Minto alleging that he had breached an array of his duties and had contributed to the delay in the audit of the...

Business

Boohoo to vote against Revolution Beauty board directors

Boohoo, the beneficial owner of approximately 26.6 percent stake of Revolution Beauty Group plc, has decided to vote against the reappointment of latter's board directors Bob Holt, Derek Zissman, and Elizabeth Lake at the upcoming AGM on June 27, 2023. Boohoo will propose appointments of Alistair McGeorge and Neil Catto as directors on...

Business

Revolution Beauty posts H1 revenue drop, but losses narrow

Revolution Beauty Group has narrowed its losses in the first half of the year despite reporting a 4.3 percent drop in revenue driven by weaker digital sales. The British beauty company generated H1 sales of 75.3 million pounds, down from 78.6 million pounds a year earlier, according to its unaudited results for the six months ended August 31. UK...