Boohoo has made a “strategic investment” in Revolution Beauty as part of a beauty push.
The fashion conglomerate has taken a stake in the business amounting to 7.1% of its share capital, as of close on August 12.
The investment marks a step change in the relationship between the two retailers, as Boohoo already stocks Revolution Beauty products on both its direct-to-consumer websites including Boohoo and PrettyLittleThing, as well as in its online department store Debenhams.
Boohoo said in a statement that the investment “reflects Boohoo’s belief in the growth potential of Revolution Beauty”.
The retailer added that it intends to be a long-term and supportive partner for the beauty company.
Revolution Beauty’s share price tumbled last week after it warned investors that its results would be delayed, while its outlook for the upcoming year has also been downgraded.
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