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Health & Beauty

Revolution Beauty announces AIM float intentions

Jupiter Asset Management has already agreed to subscribe for £90m of the placing, subject to unrevealed conditions

Revolutionary Beauty Group has announced its intention to trade on AIM in a float expected to take place in July 2021.

The beauty products retailer said that the proposed admission will consist of newly issued shares alongside existing shares held by the company’s current shareholders.

Jupiter Asset Management has already agreed to subscribe for £90m of the placing, subject to unrevealed conditions.

Following the listing on the London Stock Exchange’s AIM market, the group intends to use its net proceeds to execute growth plans, incentivise its management team and staff members, and allow incumbent shareholders to realise a proportion of value.

Adam Minto, founder and CEO at Revolution Beauty, said: “Our differentiated business model brings together both online and retail revenues, while our manufacturing and consumer feedback strategy enables us to bring new products to market quickly. 

“This means that Revolution Beauty can quickly respond to the megatrends driving the global mass beauty industry.” 

He added: “All of this together with our broad geographic presence and extensive product ranges, means Revolution Beauty is well-positioned to take advantage of the significant opportunities for expansion in a compelling growth market.”

Offering its products in over 11,000 doors in retailers across five continents, Revolution saw revenues of £157.6m in the 14 months ended 28 February 2021.

Minto claimed that the listing “marks a significant milestone” for the brand, as it aims to “match the scale and potential” of the group.

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