Revolution Beauty starts new chapter as it unveils ambitious growth plan

Revolution Beauty has launched a new growth strategy, with the ambition to deliver annual brand sales of £1 billion by 2030.

The new strategy, titled "Reigniting the Revolution", will attempt to support the business in delivering long-term profitable growth.

It focuses on three key areas including investing in the Revolution brand, concentrating on the development of key products, and managing distribution and retail partnerships to maximise returns.

The group expects to deliver £10 million of cost savings over the next three years, which will be used to invest in future growth initiatives.

Revolution Beauty also shared that the rationalisation of lower-margin lines were "successfully driving margin improvement".

As a result, it expects adjusted EBITDA for FY24 between £11-12 million, with sales growth "expected to be in the low single digits".

Lauren Brindley, CEO of Revolution Beauty, said: "The strategy that we're setting out today is about harnessing our strengths and taking the brand back to its roots. We want to build on what we're best known for - our innovation, speed to market, accessibility and inclusivity.

"By focusing on our Revolution Masterbrand, building smarter operations, maintaining financial discipline and energising our teams, we believe we will deliver long-term profitable growth."

Brindley added that she was "confident" the business could achieve its target of delivering annual retail brand sales of £1 billion by 2030.

The move comes as the business looks to get back on track after experiencing legal battles and shareholder revolts following accounting issues that led to its suspension on the London Stock Exchange.

Earlier this week, Revolution Beauty reached a settlement agreement with co-founder and former CEO Adam Minto to draw a line under the issues with its accounts, which threw the business into crisis in 2022.

It said that Minto agreed to a "full and final settlement of certain claims between them" and will pay the company a sum of £2.9 million.