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Revolution Beauty set to list on Aim, with the cosmetics group eyeing expansion

·1-min read
Revolution Beauty plans to float on Aim (Revolution Beauty)
Revolution Beauty plans to float on Aim (Revolution Beauty)

Revolution Beauty Group has outlined plans to float on London’s junior market, in a move that could value the cosmetics brand at close to £500 million.

The firm, whose goods are marketed on social media by beauty influencers, was launched in 2014 by Adam Minto and Tom Allsworth.

Today the company has around 220 mainly-office based employees, around 90 of who work in a building in Camden. The group’s products are made in a factory in Kent, as well as in sites in Italy, Germany and across Asia.

Revolution Beauty’s goods are sold online as well as in 11,000 shops, such as Superdrug and Boots branches. The IPO will help it invest more in tech, staff and marketing.

Zeus is bookrunner on the float. Market sources said the firm could be valued at between £475 million and £500 million.

Minto said: "I started Revolution Beauty eight years ago to start a revolution in beauty. I wanted to make high quality cosmetics and skincare affordable for everyone and now we're on track to achieve these goals around the world.”

The company recorded sales of £157.6 million in the 14 months to February 28 and sells make-up, shampoo and skincare ranges.

The firm said it has entered into a cornerstone investment agreement with Jupiter Asset Management which has, subject to certain conditions, agreed to subscribe for £90 million of the placing.

Revolution Beauty Group intends to float on AIM next month.

The move is expected to deliver a hefty pay day for Minto and Allsworth who will retain a stake in the business.

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