London Stock Exchange welcomes Revolution Beauty Group plc to AIM
Revolution Beauty is a global mass beauty and personal care business which operates a multi brand, multi category strategy and sells its products both direct to consumer via its e-commerce operations, and in both physical and digital retailers through wholesale relationships.
Established in 2014 by co-founders Adam Minto and Tom Allsworth, Revolution Beauty has rapidly established a global presence. Its products are sold in 11,000 stores in 45 countries while the Group’s digital operations are run both direct to consumer and through third party relationships.
It achieved c.99% revenue CAGR to FY19 since launch in 2014. In the fourteen months to 28 February 2021, Revolution Beauty generated revenue of £157.6 million and adjusted EBITDA of £13.1 million.
At its core is a desire to ensure beauty is affordable and accessible to everyone. Inclusivity is central to this. Revolution Beauty has represented and championed diversity since inception, in an industry where beauty norms are only just beginning to be challenged. The Group is committed to creating ethically produced products that are 100% cruelty free, vegan and often utilise sustainable and recyclable packaging, as well as championing ingredient transparency.
Social media forms a central focus of the Group’s marketing strategy. It collaborates with beauty influencers and others in the industry to promote products and brands and achieves significant success in doing so – via its TikTok channels, for example, the Group has generated over 5.1 billion views using the CreatorRevolution hashtag.
Admission to AIM allows the Group to accelerate the execution of its growth strategy. There remains a significant opportunity within the mass beauty market, and the Group can capitalise on this through the continued expansion of its direct to consumer digital operations, by building on existing digital partners such as ASOS and Beauty Bay, and by engaging with new digital partners globally. This digital first approach is complemented by targeted in-store expansion. As the business exits exclusivity arrangements with primary retailers in key geographies, the Group is able to expand into new stores and sign partnerships agreements on a non-exclusive basis providing a platform for further growth.
Adam Minto, CEO of Revolution Beauty Group, commented: "Today is an extremely proud day for all associated with our business and, in particular, our 220 employees who have worked hard to get us where we are today.
“We began eight years ago to start a revolution in beauty and in order to ensure high quality cosmetics and skincare are affordable for everyone. Admission to AIM is an extraordinary stage in our journey and reflects our exceptional growth to date, global presence and significant prospects. We have built a trusted and authentic brand that is capable of rapidly responding to the global megatrends that drive the mass beauty industry.
“There remains a considerable opportunity and we are now in the best possible position broaden our global reach and deliver against our significant growth prospects in a beauty market that has very compelling dynamics for an agile and inclusive business like ours. We welcome our new investors and look forward to the future with excitement.”