Revolution Beauty Group successfully executed a £300 million placing as part of its initial public offering and will trade as REVB on London's junior AIM market.
WHO: Founded in 2014 by co-founders Adam Minto and Tom Allsworth, Revolution Beauty is a global mass beauty and personal care business that operates a multi-brand, multi-category strategy and sells its products both direct to consumer via its e-commerce operations, and in both physical and digital retailers through wholesale relationships. Its products are sold in 11,000 stores in 45 countries.
WHY: Revolution Beauty intends to use the net proceeds of the placing to fuel its growth plans, incentivize the management team and wider employee base, and invest more in tech, staff, and marketing.
IN THEIR OWN WORDS: "We began eight years ago to start a revolution in beauty and in order to ensure high quality cosmetics and skincare are affordable for everyone. Admission to AIM is an extraordinary stage in our journey and reflects our exceptional growth to date, global presence and significant prospects. We have built a trusted and authentic brand that is capable of rapidly responding to the global megatrends that drive the mass beauty industry," Adam Minto, CEO of Revolution Beauty Group, commented. "There remains a considerable opportunity and we are now in the best possible position to broaden our global reach and deliver against our significant growth prospects in a beauty market that has very compelling dynamics for an agile and inclusive business like ours. We welcome our new investors and look forward to the future with excitement."
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