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![\"Revolution](\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/06\/shutterstock_1099704338-696x464.jpg\" "\\"Revolution")
<\/div>\nRevolution Beauty founder Adam Minto is said to be in talks to repay close to \u00a33m to settle allegations that he breached his fiduciary duties to the cosmetics retailer.<\/p>\n
Minto\u2019s co-founder, Tom Allsworth, is also in discussions with business to amend the timetable for deferred payments owed to him for his stake in Medichem, a haircare and skincare manufacturer.<\/span><\/p>\n In a statement on the London Stock Exchange, Revolution Beauty said it \u201cremains in negotiation on both these issues.\u201d<\/span><\/p>\n \u201cThere is no guarantee that agreements will be reached. Should agreements be reached, they would likely be treated as related party transactions and an appropriate announcement made at that time.\u201d<\/span><\/p>\n Sign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span>\u00a0<\/span><\/strong><\/p>\n Revolution Beauty hopes the dual settlement will draw a line under a bitter dispute which arose during the year after it listed in London with a valuation of nearly \u00a3500m.<\/p>\n A host of governance and operational crises over the past year have eaten away at a significant chunk of the retailer\u2019s value, leaving it with a market capitalisation of just \u00a381m.<\/p>\n Back in 2019 it was the fastest-growing beauty brand, shooting to popularity thanks to its \u2018fast beauty\u2019 model of pouncing on makeup trends and creating quick-to-market, cheap products.<\/p>\n The brand, which is stocked in retailers including Superdrug, Boots and even Boohoo, was flying and floated on the stock market with a valuation of \u00a3495m in 2021.<\/p>\nSubscribe to Retail Gazette for free<\/strong><\/h5>\n