Now under the direction of an entirely refreshed executive team, the once struggling Revolution Beauty has its sights set on a more positive outlook, with an ambition to drive annual retail brand sales of one billion pounds by 2030.
The mission comes as part of the group’s new ‘Reigniting the Revolution’ strategy, which is being put into place to strive for “long-term profitable growth in an attractive global beauty market”.
The plan follows three pillars – driving the masterbrand, powering core categories and focused global growth – as well as three “enablers”, including building a capable global team, ensuring the best customer service and making self-funding investments to push for a profitable operating model.
As such, management said it is expecting to deliver 10 million pounds in cost-savings over the next three years, which it noted would be used to invest in future growth initiatives.
Revolution revises FY24 outlook
The news came as the company provided a trading update for FY24, reporting that it was now expecting EBITDA to be between 11 million pounds and 12 million pounds, with revenue growth further forecasted to be in the low single digits.
Revolution was also able to secure a 12-month extension to its 32 million pound revolving credit facility, which will now run until October 2025.
In the regulatory filing, Lauren Brindley, group CEO, commented on the brand’s loyal customer base and retailer relationships, before adding: “The strategy that we're setting out today is about harnessing our strengths and taking the brand back to its roots. We want to build on what we're best known for - our innovation, speed to market, accessibility and inclusivity.
"By focusing on our Revolution Masterbrand, building smarter operations, maintaining financial discipline and energising our teams, we believe we will deliver long-term profitable growth.
"We are confident we can achieve our ambition to deliver annual retail brand sales of one billion pounds by 2030, establishing Revolution Beauty as a top five mass beauty brand globally."