In 2024 half-year outcomes, the British magnificence model has seen income progress of 20 % and an EBITDA enhance of £14.3 million. The group is upgrading its steering for the complete yr to double-digit thousands and thousands for the 2024 fiscal yr.
It’s been an about-face for Revolution Magnificence, which specialises in low-cost merchandise and so-called “dupes”, because it has had a tumultuous yr.
It initially floated for £500 million ($621 million) on London’s junior inventory market, AIM, in 2021, however shares had been suspended from buying and selling after auditors raised issues about accounts by the next yr. Its 2022 annual outcomes weren’t revealed.
Earlier this yr, a public stoush with its largest shareholder, quick trend retailer Boohoo, resulted in an govt reshuffle. New group chief govt Lauren Brindley, beforehand at Walgreens, and new chief advertising officer Alison Hollingsworth, a Charlotte Tilbury alumnus had been introduced on to proper the ship.
In a press release, Brindley described the model’s “enduring relevance” and “strengthened monetary efficiency.”
”Whereas there’s nonetheless tons to do, we’re on the correct trajectory, and I’m creating a strategic plan with our new govt management group to make sure we’re greatest positioned to ship future progress.”
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Revolution Magnificence Appoints New CEO
The make-up firm faces accounting investigations and shareholder requires higher administration.