Revolution Beauty Group (REVB) said the Christmas trading period from 1 November 2021 through to 31 December 2021 was strong and in line with expectations with revenues having increased by 41% year-on-year on an underlying basis.
In a trading update, the UK-based beauty company hailed its performance over the period despite the volatile consumer backdrop which saw many of its markets going into lockdown.
Over the period, the company successfully rolled out into over 2800 Walgreens' stores In 1Q23 (with Pipefill in 4Q22) and launched its Hair Care category. Revolution Beauty said its Hair Care product, Plex, will roll out into 870 Target stores towards the end of this month.
The company said this successful expansion into the US demonstrates Revolution Beauty's ability to challenge the mass beauty category globally, with large high-profile listings.
In addition, 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 predicted within the company’s interim results reported in November 2021, Revolution Beauty's Christmas Advent Calendar sold out on RB.com, selling over 100,000 units.
The company explained that its three localised websites in the UK, Australia and USA delivered encouraging results across its new categories of Haircare and Fragrance.
Shares in Revolution Beauty Group were trading 6.70% higher to 102p following the news.
Looking ahead,the group said The Masterbrand of Makeup Revolution commences its launch into Boots stores on 21 February 2022 rolling out into the top 336 Boots stores across the UK.
It said this will see Revolution Beauty sell its products across four categories - Cosmetics, Skincare, Haircare and Gifting - within the UK's leading Health and Beauty Retailer.
Whilst it remains mindful of the volatile external environment and the phasing of distribution expansions in January and February, the group’s guidance for the year remains unchanged.
Commenting on the trading period, Adam Minto, Chief Executive Officer and Joint Founder of Revolution Beauty Group, highlighted to its shareholders: "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.
He added: “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."
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