Revolution Beauty reveals plans for AIM float

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Revolution Beauty Group Limited has announced its intention to seek admission of its shares to trading on AIM, a market of London Stock Exchange plc. The company said, admission is expected to take place in July 2021.

Commenting on the decision, Adam Minto, founder and CEO of Revolution Beauty, said in a release: “I started Revolution Beauty eight years ago to start a revolution in beauty. I wanted to make high quality cosmetics and skincare affordable for everyone and now we’re on track to achieve these goals around the world. We have delivered exceptional growth, with a revenue CAGR of over 99 percent from inception to FY19.”

The company added that it has entered into a cornerstone investment agreement with Jupiter Asset Management who has, agreed to subscribe for 90 million pounds of the placing. The group intends to use the net proceeds of the placing to execute its growth plans, incentivise the management team and wider employee base and allow incumbent shareholders to realise a proportion of value held whilst retaining significant shareholdings to benefit from future upside.

Revolution Beauty products are sold in over 11,000 doors in established retail partners worldwide, including Superdrug and Boots in the UK, and Ulta and Target in the US. In addition, the group has a number of global digital partners, as well as its own direct to consumer channel. In the fourteen months to February 28, 2021, Revolution Beauty generated revenue of 157.6 million pounds and adjusted EBITDA of 13.1 million pounds.

Source: https://fashionunited.uk

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