Revolution Beauty plots US expansion as sales soar

Revolution Beauty’s half year results have been lifted by surging demand for makeup amid the worldwide lifting of lockdown restrictions.
"This is a momentous year for Revolution Beauty."
// Revolution Beauty posts group revenue of £78.6 million for the six months to 31st August
// Next, Fashion Nova, River Island and Forever 21 will also soon begin selling Revolution Beauty products

Revolution Beauty’s half year results have been lifted by surging demand for makeup amid the worldwide lifting of lockdown restrictions.

In its interim results, the beauty retailer revealed that its group revenue rose by 39 per cent to £78.6 million, as the business moves into the peak trading period.

The beauty group emphasised its strong performance across its brands, including Makeup Revolution, which was up 53 per cent in comparison to the first half of last year.

Growth in the US increased by 102 per cent for the six month period, with the North American market representing 26 per cent of sales.

The group is also pushing ahead with a US retail expansion to 2,800 new stores in the final quarter of the year.

Following the Covid-19 lockdowns, the group’s digital sales were up 53 per cent from two years ago.

Next, Fashion Nova, River Island and Forever 21 will begin selling Revolution Beauty products according to today’s update.

Revolution Beauty Group chief executive Adam Minto said: “This is a momentous year for Revolution Beauty. We have continued to focus on accelerating the delivery of our strategy to expand distribution of Revolution Beauty brands around the world.

“We remain confident of meeting market expectations for the full year, though we continue to be mindful of ongoing volatility and disruption caused by the pandemic. We are confident in our strategy, the resilience of our business model and our differentiated products as Revolution Beauty continues to win new customers around the world.”

“As anticipated at our trading update in October, we continued the strong momentum in the first half into the seasonal peak of beauty in the third quarter, with sales growth across online and in-store, driven by Halloween and the start of Christmas trading.”

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