Revolution Beauty is targeting £1bn in brand sales a year by 2030 as part of its plans to get the business back on stable ground.
The beauty group has been shrouded by legal battles and shareholder revolts over the past year following an accounting scandal which led to its suspension on the London Stock Exchange.
The executive team hope the new strategy, dubbed “Reigniting the Revolution”, will support the business in delivering long-term profitable growth.
The plan focuses on three key areas including investing in the Revolution brand, concentrating on the development of key products and better managing distribution and retail partnerships to maximise returns.
Revolution Beauty said it expects to deliver £10m of cost savings over the next three years, which will be used to invest in future growth initiatives.
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The beauty retailer, which has already enacted on some of its plan, reported the rationalisation of lower-margin lines were ”successfully driving margin improvement”.
As a result, it expects full-year adjusted EBITDA to come in between £11m and £12m with sales growth ”expected to be in the low single digits”.
Group chief executive Lauren Brindley said: “Revolution Beauty is a business with unique capabilities, a loyal Gen Z customer base and relationships with some of the world’s best beauty retailers.
“The strategy that we’re setting out today is about harnessing our strengths and taking the brand back to its roots. We want to build on what we’re best known for – our innovation, speed to market, accessibility and inclusivity.
“By focusing on our Revolution Masterbrand, building smarter operations, maintaining financial discipline and energising our teams, we believe we will deliver long-term profitable growth.”
Brindley added that she was confident the group could hit its target of delivering £1bn of annual retail brand sales by 2030.
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