Boohoo trying to control Revolution Beauty

Boohoo is a popular online fashion brand known for its trendy and affordable clothing options is entangled in ugly with the beauty brand Revolution Beauty which it has a 26.2 percent share.

Boohoo was founded in 2006 and has since gained a significant presence in the fashion industry, particularly in the United Kingdom. Boohoo offers a wide range of clothing for women, men, and children, including dresses, tops, bottoms, outerwear, shoes, and accessories.
Revolution Beauty was the fastest-growing beauty brand in 2019, shooting to popularity thanks to its ‘fast beauty’ model of pouncing on makeup trends and creating quick-to-market, cheap products.

It created ‘dupes’ of coveted products and exclusive collections with popular YouTubers.

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 £495m in 2021.

All was looking rosy, until the summer of 2022 when Revolution Beauty sounded a profit warning as consumers pulled back on discretionary spending and admitted that auditors BDO had flagged accounting issues that could have a “material impact” on its full-year results.



Things are getting ugly at beauty brand Revolution Beauty as it finds itself entangled in a bitter battle with its largest shareholder Boohoo.

Last week, Revolution expressed the intention to vote against the reappointment of Boohoo’s CEO, CFO, and chair as it sought a requisition of a general meeting in which it put forward a new team “with the right retail, e-commerce, and consumer brands experience is required to deliver shareholder value”.

A week later at Revolution Beauty’s AGM, the trio was fired to only be immediately reinstated by non-independent executive Jeremy Schwartz. The drama deepened when the senior executives were rewarded with over 11 million shares, valued at almost £3m, less than 48 hours later. Boohoo accused the company of a “lack of transparency”.

Revolution hit back calling Boohoo’s actions “nothing short of value-destructive, opportunistic and self-serving”. It appears the battle is a long way from over. But how did the beauty business find itself at war?

Boohoo is known for its fast-fashion business model, which means they quickly produce and offer new styles to keep up with the latest trends. They have a rapid turnaround time from design to production and can offer their products at competitive prices.

While Boohoo has gained popularity for its fashion-forward designs and affordable prices, the brand has also faced controversy and criticism in recent years. In 2020, allegations of poor working conditions and low wages at some of Boohoo’s supplier factories in Leicester, UK, emerged. These allegations raised concerns about ethical practices and sustainability within the fashion industry.



Following the controversy, Boohoo conducted an independent review of its supply chain and committed to making improvements to ensure better labor practices and ethical sourcing.