Revolution Beauty news and archive

Revolution Beauty taps new president for US business

British cosmetics and skincare company Revolution Beauty has named Sara Staniford as the new president of its US business. Staniford has over 17 years of experience in the beauty sector, and was previously group retail director at Revolution Beauty London, during which time she oversaw the launch of five new categories for the wider group's...

24 Jan 2023

Business

Revolution Beauty found to have inflated sales by nine million pounds

An independent review into the auditing of Revolution Beauty’s accounts have found the cosmetics company had inflated its sales by nine million pounds in order to meet its annual targets. The report comes as a result of a probe conducted by Macfarlanes and Forensic Risk Alliance, which was initiated after “serious concerns” regarding the group’s...

17 Jan 2023

Business

Boohoo doubles stake in Revolution Beauty becoming largest single shareholder

Fast fashion group Boohoo has increased its stake in Revolution Beauty by over 25 percent as the brand continues an investigation into its audit reporting. The retailer has upped its investment from 12.8 percent to 26.4 percent, making it the beauty brand’s largest single shareholder. In a regulatory filing, Boohoo said the investment reflected...

29 Nov 2022

Business

Revolution Beauty appoints new CEO amid audit investigations

Revolution Beauty has announced the appointment of Bob Holt as its chief executive officer as the group continues an ongoing investigation into concerns surrounding its FY22 accounts. Holts’ appointment comes weeks after the beauty retailer’s founder and CEO Adam Minto announced his resignation, following a period in which he stepped down from...

28 Nov 2022

BusinessFeatured

Revolution Beauty founder and CEO exits amid audit investigation

British Cosmetic group Revolution Beauty has announced its founder and CEO is stepping down amid an ongoing audit investigation. The company said in a statement Thursday that “as a result of the events since IPO and the transition from a private company to a public company, founder and CEO Adam Minto has resigned as a director of the group and...

10 Nov 2022

Business

Revolution Beauty CEO and chair temporarily step down amid probe

Two bosses at Revolution Beauty have temporarily stepped down amid an ongoing audit investigation of the British beauty retailer. Executive chair Tom Allsworth and CEO Adam Minto will remain directors but are stepping away from the day-to-day management in order to “support the independent investigation”, the company said Friday. “This decision...

14 Oct 2022

Business

Revolution Beauty calls in independent investigators amid audit failures

Following the announcement regarding its delayed financial report, Revolution Beauty has stated that it will now be calling in independent external advisors to investigate its audit failures. It comes as its auditors, BDO LLP, raised “serious concerns” within its work on the fiscal year 2022 audit, including the group’s ability to provide...

23 Sept 2022

Business

Revolution Beauty to suspend trading of ordinary shares

Revolution Beauty is set to suspend the trading of its ordinary shares, the company announced in a release, as its auditors failed to complete its results on time. The suspension comes in regards to the beauty retailer’s annual FY22 report, which it has not been able to complete for August 31, in accordance with AIM Rule 19. It comes after the...

30 Aug 2022

Business

Boohoo picks 7.1 percent stake in Revolution Beauty

Boohoo has announced a strategic investment by picking up 7.1 percent stake into Revolution Beauty Group plc. The company said in a release that the investment builds upon the existing relationship between Boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several of the group's direct to consumer brand...

17 Aug 2022

People

Revolution Beauty taps new finance chief

British cosmetics group Revolution Beauty has named Elizabeth Lake as its new chief financial officer. Lake succeeds Andrew Clark who is exiting the business at the end of July after three years. Incoming CFO Lake has more than 25 years of finance and commercial experience. She joins from AIM-listed Everyman Media Group, where she has been CFO...

12 May 2022

BusinessFeatured

Revolution Beauty reports robust FY revenue, EBITDA growth

Revolution Beauty Group has reported robust revenue and EBITDA growth in the year ending February 28, in line with market expectations. The British cosmetics group posted annual revenue of 194 million pounds, a 42 percent increase from the previous year despite inflationary pressure and pandemic related volatility. The group said it had a record...

9 May 2022

Business

Revolution Beauty acquires US brand BH Cosmetics

British cosmetics group Revolution Beauty announced Friday it has bought certain intellectual property assets and inventory of US cosmetics brand BH Cosmetics Holdings out of Chapter 11 bankruptcy. Revolution Beauty said the deal was worth 3.9 million dollars, and will be financed through the group’s existing cash resources. It said it will “...

25 Feb 2022