Fast fashion giant Boohoo has announced a "strategic investment" in Revolution Beauty.
Manchester-based Boohoo says its stake in Essex-based Revolution amounted to 7.1% of Revolution Beauty 's issued share capital.
Revolution Beauty was founded by Adam Minto and Tom Allsworth in 2014. It launched on AIM last year.
Boohoo said: "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."
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Boohoo has been active with acquisitions. In 2017, it bought fashion brand PrettyLittleThing and 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.
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 said it had 20 million active customers across all its brands around the world.
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