Frasers eyes Revolution Beauty takeover

Frasers Group is reportedly exploring a takeover bid for the struggling Revolution Beauty, Sky News has reported. 

Sources told Sky that the Mike Ashley-owned group had approached Revolution Beauty about a potential offer but was “not certain” it would enter a bid. 

Revolution Beauty has since confirmed that Frasers is “one of a number of parties” who is considering a bid for the group.  

In a statement released today (9 June), it said: “Revolution Beauty notes the recent press speculation regarding the interest of Frasers Group in Revolution Beauty and confirms that Frasers is one of a number of parties conducting due diligence as part of the formal sale process announced on 21 May 2025. There can be no certainty that Frasers’ interest will result in a firm offer for the company.”

Last month Revolution Beauty announced it was launching a formal sales process after it received a preliminary approach from an unnamed company, and invited other suitors to contact its advisers if also interested. 

On 13 May, the beauty retailer had said that it was reviewing its funding structure and exploring discussions in respect of support for an equity raise from its key shareholders.

Following this, it confirmed it would investigate the sale of the company after deciding to “widen” its strategic options.

It comes as Revolution Beauty revenues plummeted 26% to £141.6m for the year ended 28 February 2025, reflecting the rationalisation of its product and brand portfolio, as well as softness in the US market.

Frasers’ interest in acquiring Revolution Beauty would reflect its growing interest in expanding beyond pure retailing. It has previously upped its stakes in companies such as THG, for example. 

Frasers has been contacted for comment.