Revolution Beauty Group Limited announced plans to join AIM next month with investor Jupiter Asset Management having already agreed to subscribe for £90mln.
Founder and chief executive Adam Minto said he started Revolution Beauty “to make high-quality cosmetics and skincare affordable for everyone”.
“Our differentiated business model brings together both online and retail revenues, while our manufacturing and consumer feedback strategy enables us to bring new products to market quickly,” he said.
“This means that Revolution Beauty can quickly respond to the megatrends driving the global mass beauty industry.”
The cosmetics and skincare retailer will use the IPO proceeds to boost growth plans, incentivise the management team and wider employee base and allow existing shareholders “to realise a proportion of value held”.
Established in 2014, the brand is sold in over 11,000 sites at retail partners worldwide, including Superdrug and Boots in the UK, and Ulta and Target in the US, as well as online through its own platform.
It has a global reach of 6.3mln users on social media and it collaborates with beauty influencers to promote its products.
In the 14 months to 28 February 2021, it made revenue of £157.6mln and adjusted underlying earnings (EBITDA) of £13.1mln. Annual revenue growth from 2014 to 2019 was 99%.
It’s targeting a market forecast to reach US$283bn in 2025.