Revolution Beauty buoyed by make-up sales rebound after end of lockdown

However, the company also saw losses widen for the half-year on the back of rising costs.

Henry Saker-Clark
Wednesday 24 November 2021 12:03
Revolution Beauty
Revolution Beauty

Revolution Beauty has reported surging sales as it saw make-up demand rebound after lockdown restrictions eased.

However, the company also saw losses widen for the half-year on the back of rising costs.

The group, which floated in London earlier this year, posted a £15.2 million loss after tax for the six months to August 31, compared with a £6 million loss for the same period last year.

The business said sales surged by 39% to £78.6 million for the half-year as it hailed a “momentous” period for the brand.

Sales were boosted by an uplift in its make-up products as customers returned to socialising again following lockdown restrictions.

Halloween was really strong and early Black Friday sales are looking good, so we are really positive about the peak season

Adam Minto, Revolution

Adam Minto, chief executive of Revolution, told the PA news agency: “We saw a really strong showing from skincare and haircare products during lockdown and that has remained strong.

“But we have now really benefited from the return of make-up, with people going back to school, college and the office.

“Halloween was really strong and early Black Friday sales are looking good, so we are really positive about the peak season.”

The group said peak sales are typically in November and December, with the company highlighting it is well stocked and has not seen shortages amid supply chain pressures.

It added it has seen a rise in shipping costs in recent months but told shareholders it has mitigated these with cost savings.

Mr Minto added: “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.

“The medium and long-term growth drivers and opportunity in mass beauty remain strong, and 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.”

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