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<\/div>\nRevolution Beauty is targeting \u00a31bn in brand sales a year by 2030 as part of its plans to get the business back on stable ground.<\/p>\n
The beauty group has been shrouded by legal battles and shareholder revolts over the past year following an accounting scandal which led to its suspension on the London Stock Exchange.<\/p>\n
The executive team hope the new strategy, dubbed \u201cReigniting the Revolution\u201d, will support the business in delivering long-term profitable growth.<\/p>\n
The plan focuses on three key areas including investing in the Revolution brand, concentrating on the development of key products and better managing distribution and retail partnerships to maximise returns.<\/span><\/p>\n Revolution Beauty said it expects to deliver \u00a310m of cost savings over the next three years, which will be used to\u00a0invest in future growth initiatives.<\/p>\n Sign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span>\u00a0<\/span><\/strong><\/p>\n The beauty retailer, which has already enacted on some of its plan, reported the rationalisation of lower-margin lines were \u201dsuccessfully driving margin improvement\u201d.<\/p>\n As a result, it expects full-year adjusted EBITDA to come in between \u00a311m and \u00a312m with sales growth\u00a0\u201dexpected to be in the low single digits\u201d.<\/p>\n Group chief executive\u00a0Lauren Brindley said:\u00a0<\/span>\u201cRevolution Beauty is a business with unique capabilities, a loyal Gen Z customer base and relationships with some of the world\u2019s best beauty retailers. <\/span><\/p>\n \u201cThe strategy that we\u2019re setting out today is about harnessing our strengths and taking the brand back to its roots. We want to build on what we\u2019re best known for \u2013 our innovation, speed to market, accessibility and inclusivity.<\/span><\/p>\n \u201cBy focusing on our Revolution Masterbrand, building smarter operations, maintaining financial discipline and energising our teams, we believe we will deliver long-term profitable growth.\u201d<\/span><\/p>\n Brindley added that she was confident the group could hit its target of delivering \u00a31bn of annual retail brand sales by 2030.<\/span><\/p>\nSubscribe to Retail Gazette for free<\/strong><\/h5>\n