Revolution Beauty reports strong trading over Christmas period

The AIM-traded firm said that was achieved despite a “volatile” consumer backdrop, with many of its markets going into lockdown.

It also confirmed that its roll out into more than 2,800 Walgreens chemists In the United States would take place in the first quarter of the 2023 financial year, with ‘pipefill’, which refers to the movement of stock into the retailer’s distribution channel, taking place in the fourth quarter of the 2022 financial period.

The company also announced the launch of its haircare category, with the ‘Plex’ brand set to roll out in 870 Target discount department stores towards the end of January.

Revolution said its “successful expansion” into the US demonstrated its ability to “challenge” the mass beauty category globally with large high-profile listings.

The company’s master brand Makeup Revolution, meanwhile, would start its launch into Boots chemists in the UK on 21 February, rolling out into the top 336 stores.

That would see Revolution sell its products across four categories within the UK’s largest chemist chain, being cosmetics, skincare, haircare and gifting.

In its direct-to-consumer division, the company said Revolutionbeauty.com grew sales by 50% year-on-year for the month of December, with returning visitors to the website increasing by 23% year-on-year.

As it predicted in its interim results in November, Revolution’s Christmas advent calendar sold out on its e-commerce channel, selling more than 100,000 units.

The company’s three localised websites in the UK, Australia and the US delivered “encouraging” results across its new categories of haircare and fragrance, the board added.

Looking ahead, Revolution said that while it was mindful of the “volatile” external environment and the phasing of distribution expansions in January and February, its guidance for the full year remained unchanged.

“We were pleased to see good underlying growth in the business across our peak Christmas trading period of November and December, seeing us deliver the quality products we're known for, at affordable prices,” said joint founder and chief executive officer Adam Minto.

“As we look forward, our growth in our direct to consumer business coupled with our successful retail expansion into the UK and the US provides strong momentum for the business.

“We look forward to updating the market with our full year results later in the year.”

At 0901 GMT, shares in Revolution Beauty Group were up 8.99% at 105.5p.