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Boohoo has announced that it has recently made a strategic investment into Revolution Beauty Group plc amounting to a direct interest of 7.1% of Revolution Beauty’s issued share capital.
The investment builds upon the existing relationship between Boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several of the Group’s direct to consumer brand websites and its online digital department store, Debenhams.
The investment reflects boohoo’s belief in the growth potential of Revolution Beauty and it said it intends to be a “supportive stakeholder and long-term partner”.
Founded in Manchester in 2006, Boohoo has also completed the acquisitions of the fashion brands PrettyLittleThing, Nasty Gal, Karen Millen and Coast.
The news comes after Boohoo warned earlier this year that higher operating costs and a rise in customer returns would dampen its profits by 6.3% from the prior year and lower than its 10% margins pre-pandemic.
