LONDON: boohoo Group 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 intends to be a supportive stakeholder and long-term partner.
Founded in Manchester in 2006, boohoo is an inclusive and innovative global brand targeting young, value-orientated customers, pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7.
In 2017, the Group extended its customer offering through the acquisitions of the vibrant fashion brand PrettyLittleThing and free-thinking brand Nasty Gal. In March 2019, the Group acquired the MissPap brand, in August 2019 the Karen Millen and Coast brands and in June 2020 the Warehouse and Oasis brands, all complementary to the Group’s scalable, multi-brand platform.
In January 2021, the Group acquired the intellectual property assets of Debenhams, with the goal of transforming a leading UK fashion and beauty retailer into a digital department store and marketplace through a new capital-light and low-risk operating model. In February 2021, the Group acquired the intellectual property assets of UK brands Dorothy Perkins, Wallis and Burton. As at 28 February 2022, the Group had 20 million active customers across all its brands around the world.