TIDMREVB
RNS Number : 9835M
Revolution Beauty Group PLC
27 September 2021
For Immediate Release 27 September 2021
REVOLUTION BEAUTY GROUP PLC
("Revolution Beauty", the "Group" or the "Company")
H1 Trading Update and Notice of Results
Strong H1 sales growth of 35%, with accelerating growth expected
in H2
Revolution Beauty Group plc (AIM: REVB), the multi-brand,
multi-category and multi-channel mass beauty innovator with proven
global scale, is pleased to announce that following its successful
admission to AIM in July 2021, the Group has recorded GBP78 million
of revenue in the six months to 31 August 2021, representing a 35%
increase from the same period in 2020.
The Board remains confident in achieving full year market
expectations and has a number of exciting new initiatives and
developments that are expected to continue to underpin strong
revenue growth throughout H2. These include the following;
-- Rapid Expansion of Revolution Beauty Brands and Categories -
Our brands and categories are accelerating fast through our Global
Digital and Retail Distribution Platforms. We have many new digital
and retail partners that are planned to 'Join The Revolution', as
well as our brand and categories entering new countries and
territories. New digital and retail distribution, and country
expansions are planned for H2. We are excited to announce today the
expansion of our global category leading makeup brand, Makeup
Revolution, seeing it enter over 350 of the largest Boots stores in
early 2022 in prominent in-store locations.
-- Revolution Beauty USA sales grew by over 90%, and USA is on
course to become Revolution Beauty's biggest country by revenue
globally in 2021 - In Q1 2021, the Group launched into 1,800 Target
stores throughout the USA with the Makeup Revolution brand. Makeup
Revolution is already a top performing brand in the Target makeup
category, and the Board expects this to continue and build into an
influential multi-brand and multi-category relationship with
Target. The Group has also continued to see strong sales growth
through beauty chain Ulta, as the US market shows fast 'consumer
bounce back' in its stores. We are excited that this evidences our
expansion into secondary retailers in a country, and showcases the
opportunity for Revolution Brands & Categories to expand in
previously single retailer territories.
-- Revolution Beauty DTC Growth and THG ingenuity partnership -
The Group has continued to make good progress in its consumer
centric DTC model. Revolution Beauty formed a partnership with THG
Ingenuity in late 2020 to enable the Group to accelerate its DTC
localisation plans. The Group launched its site in the USA in
January 2021 and in Australia/New Zealand in March 2021 and is
seeing strong results, with triple digit percentage increases in
sales. Revolution Beauty has added over 200,000 new customers in
H1.
-- Revolution Beauty Category Expansion - REVOLUTION SKIN - The
Group's strategic ambition is to continue to leverage the
Revolution Brand's global community, through its Global Digital and
Retail Platform, which will accelerate its growth into all Beauty
Categories. We have seen our Revolution Skin Category grow revenues
by over 34%, from an already strong 2020.
-- Revolution Haircare Launch - The Group launched its
Revolution PLEX range on its DTC platform and through its Digital
Retailers during H1 and is now stocked in over 250 Boots stores and
over 300 Superdrug stores, showing promising 203% growth
year-on-year. Given the success through our digital test and learn
model and retailing in the UK, we are now confidently accelerating
International expansion in both our digital and retail
channels.
-- Strength and confidence in the Revolution Global Digital
& Retail distribution strategy - The world has experienced
significant swings in shopping habits and macroeconomic conditions
(including global shipping cost pressures) in the last 18 months
due to the pandemic. The Board are confident that their globally
established brands, and the Group's balance between digital and
retail stores, are well placed with their consumers and have the
ability to continue to win market share and experience significant
growth. The Group's agile business model and brand strength have
also enabled shipping cost increases to be offset.
As expected, the Group is now seeing sales increase as the
beauty industry enters its seasonal peak trading period of
September to November. Further expansion of Revolution Beauty's
brands, categories and trading partners is envisaged to drive
growth during the latter part of H2. The Board has been cognisant
of global supply chain disruptions during H1 and, having reacted
accordingly, do not expect the Group's ability to offer products to
its customers to be impacted.
Adam Minto, CEO and Joint Founder of Revolution Beauty Group
plc, said: "It's been just over two months since we listed
Revolution Beauty on the London Stock Exchange and we're pleased to
have continued the strong momentum through the first half with 35%
sales growth since last year. We have executed against our digital
first strategy set out at IPO, adding over 200,000 DTC customers to
our platform, while more than doubling international online sales
in the US, Australia and New Zealand. Meanwhile our retail
expansion has continued strongly, and we're delighted to announce
today that our Makeup Revolution brand will be expanding into over
350 of the largest Boots stores across the UK in early 2022.
"We are proud to announce this strong progress for the half. As
we said at IPO, the long-term growth opportunity in mass beauty
remains vast with more consumers switching to online, while the
market as a whole continues to grow rapidly globally. Revolution
Beauty is well positioned to take advantage of these trends through
its innovative influencer led marketing strategies and on-trend
products that deliver quality at an accessible price point. As we
look ahead to the second half, we remain focused on delivering our
ambition to build a new era of consumer centric beauty brands
around the world. "
The Company will publish its interim report for the six months
ended 31 August 2021 on 24th November 2021.
There will be a webinar for equity analysts at 09:30am GMT on
the day of interim results, hosted by CEO Adam Minto and CFO Andrew
Clark. Anybody wishing to register should contact
investor.relations@revolutionbeautyplc.com where further details
will be provided.
For further information:
Revolution Beauty Group plc
Adam Minto, Founder & CEO
Tom Allsworth, Founder & Executive www.revolutionbeautyplc.com
Chairman
Zeus Capital Limited
(Nominated Adviser & Broker)
Corporate Finance
Nick Cowles / Jamie Peel / Jordan Tel: +44 (0) 161 831 1512
Warburton
Equity Capital Markets Tel: +44 (0) 20 3829 5000
Dominic King / Ben Robertson www.zeuscapital.co.uk
Media enquiries:
Headland Consultancy Tel: +44 (0)20 3805 4822
Rosh Field / Will Smith Revolutionbeauty@headlandconsultancy.com
- Ends -
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