Boohoo has upped its stake in Revolution Beauty, as shares in the online makeup retailer fall.

The clothing giant, which already sat as a majority shareholder of Revolution, increased its holdings in the beauty business from 26.4% to 27.1%.

Boohoo Group initially took up a stake in the makeup giant back in August last year.

Meanwhile, the share price in the cosmetics giant dropped by more than 7.5% on Monday.

Subscribe to Retail Gazette for free

Sign up here to get the latest news straight into your inbox each morning 

The news comes after both companies have recently been involved in a public feud, as Boohoo sought to oust the Revolution Beauty leadership team and install its own representatives.

However, the battle drew to a close last week after both brands reached a settlement agreement.

Last week, it was revealed that Revolution Beauty chief executive Bob Holt and chair Derek Zissman would be stepping down from their roles under the peace deal.

Holt is set to remain in the post in an interim capacity until 31 August, while the business searches for a new CEO.

Click here to sign up to Retail Gazette‘s free daily email newsletter