In what’s been a turbulent period for Revolution Beauty Group, the company’s ending August with some positive news. It now wants to remain independent and aims to raise around £15 million in new funding under returning CEO Tom Allsworth.

He was a co-founder along with also-returning-as-a-consultant co-founder Adam Minto. They’d both quit earlier after a series of accounting issues.

Their return comes as the new injection of cash is going to be needed because the multi-channel mass-market beauty group’s latest accounts released Friday (22 August) revealed sales for the year ended 28 March were down by a quarter, as margins plummeted and losses grew.

No wonder relatively new chairman Iain McDonald said the business, currently valued at just £11 million, had “lost its way”.

But he bullish

See Full Page