Health & Beauty

Revolution Beauty FY22 sales soar amid Boots partnership

The beauty group reported a revenue of £194m, up 42% against the year ending 28 February 2021, while adjusted EBITDA soared 73% to £22m

Revolution Beauty has welcomed a “record” Q4 in its latest full-year trading update, attributing the success to its Boots and Walgreens expansions, with half-year sales rocketing 44% year-on-year for the year ended 28 February 2022.

The beauty group reported a revenue of £194m, up 42% against the year ending 28 February 2021, while adjusted EBITDA soared 73% to £22m. 

In the UK, its sales were up 85% year-on-year as footfall continued to recover amongst its retail partners, while sales were also bolstered by the roll out of Makeup Revolution into Boots. 

The USA however was its biggest single market, delivering a sales growth of 27% for the full year. Sales in the rest of the world rebounded with a huge sales growth of 79%, now accounting for 35% of the group’s total business. 

The group said its omnichannel route to market continued to balance its business model, with growth across both digital and retail distribution. Digital platforms generated around 29% of sales in the period, while 71% came from retail stores.

Adam Minto, group CEO, said: “The group delivered a strong full year performance, in line with expectations, and driven by the strength of our omnichannel route to market. We had a record fourth quarter in FY22 and saw strong broad-based sales growth across categories and geographies with revenue for the full year increasing by 42% against the previous year. 

“The US has become our biggest single market in terms of store sales, while retail in the UK and the Rest of World continued to bounce back to pre-pandemic levels.”

He added: “In a world where consumers are feeling the pressure from increased prices in almost every aspect of their lives, mass market beauty is perfectly positioned as the affordable choice. 

“Like everyone, we remain mindful of the current economic climate, but we know Revolution’s mission to offer quality products at affordable prices remains as relevant as ever. Looking ahead, Revolution remains confident as it pursues its strategy and continues its growth trajectory.”

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