Revolution Beauty, the UK-based skincare and cosmetics brand that floated on London’s Alternative Investment Market (AIM) over the summer, saw its revenues jump 39% to £78.6m over its half-year period to 31 August.
In the UK, store sales climbed 78%. North American sales jumped 102%, whilst the rest of world rose 56%.
The substantial increases were attributed to the re-opening of retail stores selling its products following the Covid lockdowns and increased demand for makeup as people started socialising again.
The North American market now represents 26% of Revolution Beauty’s sales. The group is pushing ahead with its US expansion to 2,800 new stores in the final quarter of the year.
Overall DTC e-commerce sales growth eased due to strong comparatives with bumper demand during the height of the pandemic last year. However, digital sales are still up 53% against two years ago.
The company’s products are sold by retailers in nearly 40 countries, including Boots and Superdrug in the UK. The company revealed yesterday that Next, Fashion Nova, River Island and Forever 21 will begin selling Revolution Beauty products.
“This is a momentous year for Revolution Beauty. We have continued to focus on accelerating the delivery of our strategy to expand distribution of Revolution Beauty brands around the world,” said Revolution Beauty Group Chief Executive Adam Minto.
“We remain confident of meeting market expectations for the full year, though we continue to be mindful of ongoing volatility and disruption caused by the pandemic. We are confident in our strategy, the resilience of our business model and our differentiated products as Revolution Beauty continues to win new customers around the world.
“As anticipated at our trading update in October, we continued the strong momentum in the first half into the seasonal peak of beauty in the third quarter, with sales growth across online and in-store, driven by Halloween and the start of Christmas trading.”
