Probe into Revolution Beauty’s accounts flag ‘concerns’ over £9m sales and personal loans made to employees January 13, 2023 An independent investigation into troubled cosmetics maker Revolution Beauty identified concerns, including over certain historical sales, inventory provisioning methods and personal loans made by a former CEO. The probe was instigated by the company’s auditors BDO last autumn and has already claimed the scalp of former chief executive officer Adam Minto who stepped down from the [...]
The best of 2022: The Lost King director Stephen Frears on the Tory meltdown December 20, 2022 We caught up with director Stephen Frears as the Tories were in the midst of the Liz Truss meltdown, and while he was engrossed in the collapse of the government, he didn’t really want to speak with us. Read on for one of our more uncomfortable interviews. ••• “You think you’ve reached the bottom and [...]
Boohoo amps up stake in troubled Revolution Beauty to 26 per cent November 28, 2022 Fast fashion retailer Boohoo has upped its stake in Revolution Beauty, as the troubled cosmetics firm announced a new chief. The online retailer said it had upped its strategic investment in the lipstick seller to 26.47 per cent of its issued share capital. Boohoo, which sells Revolution cosmetics on a number of its websites and [...]
Revolution Beauty probe into lipstick seller’s accounts continues as lenders hire advisers November 28, 2022 Revolution Beauty has named its new chief executive officer as Bob Holt as the business looks to move forward amid a probe into its accounts. The troubled cosmetics retailer said on Monday its current chief operating officer Holt would be stepping into the top job, after Holt was made responsible for the daily management of [...]
Chief executive of Revolution Beauty resigns with immediate effect November 9, 2022 The chief executive of Revolution Beauty has resigned as director with immediate effect and is stepping down from the business completely. Adam Minto quit while the company while continues with an independent investigation after problems with audits over its accounts. This comes after both its CEO and executive chairman voluntarily “stepped away” from day-to-day management [...]
Beauty parade? Dyson to invest half a billion in expanding grooming offering October 25, 2022 Engineering giant Dyson is set to invest half a billion into expanding its range of beauty products, as the technology and beauty industries converge. The British company’s Airwrap hairstyler, which has graced the beauty tables of most internet influencers, has been a best-seller for several years now. And has prompted popular ‘dupes’ from the likes of Revolution [...]
Revolution Beauty CEO and executive chair ‘step away’ as investigation into accounts continues October 14, 2022 Revolution Beauty CEO and executive chairman have agreed to voluntarily “step away” from day-to-day management of the company as the investigation surrounding accounts continues. The beauty giant did not indicate when Tom Allsworth (Executive Chairman) and Adam Minto (CEO) would return to their duties, but said the move was aimed at allowing them to support [...]
Stephen Frears on Kings, Queens and ‘catastrophic’ politicians October 11, 2022 “You think you’ve reached the bottom and somehow the Tories manage to effortlessly make it worse.” This observation is delivered as soon as I enter the annex of the Soho hotel where I’m to interview lauded director Stephen Frears. Here to promote his new film about finding the remains of Richard III, he’s installed himself [...]
Revolution Beauty calls in independent investigators over ‘serious’ auditing concerns September 23, 2022 Revolution Beauty has called in the investigators after auditors continue to flag “serious concerns”. The auditor BDO has recommended that the beauty firm appoint independent external advisers to carry out an independent investigation, adding to the initial announcements made last month surrounding “certain accounting issues”. Revolution said this morning that it has hired City law [...]
Revolution Beauty to suspend trading as it fails to complete audit August 30, 2022 Revolution Beauty has said it will suspend trading of its ordinary shares as the retailer fails to complete its audit for the financial year.