Revolution Beauty 'don't deliberately copy anyone'
- Published
Revolution Beauty's boss has denied claims the make-up company plagiarises rival products as he detailed plans to sell shares in the business.
The firm, which owns brands such as Makeup Revolution, has faced criticism on social media that some packaging is similar to other companies.
But Revolution Beauty's Adam Minto, said: "I can say quite clearly we never deliberately copy anybody."
Beauty YouTuber Manny MUA accused the firm of "duping" one of his products.
The make-up artist, whose real name is Manuel Gutierrez, claimed last year that Revolution Beauty copied the packaging of a highlighter made by his own company, Lunar Beauty.
Revolution Beauty pulled the product but said it was not aware of Lunar Beauty's design and was led to believe by companies that manufacture packaging "that it was a freely available design".
The company has also in the past been criticised by the likes of Kat Von D, the tattoo artist and entrepreneur, who claimed a Makeup Revolution eyeshadow palette was similar to one made by her beauty line.
While some on social media also pointed out that Revolution Beauty produced lipsticks in packaging like those sold by makeup artist Charlotte Tilbury's company.
Mr Minto told the BBC: "It is sometimes really hard to know if someone has a registered design versus a patent.
"Usually the issues will surround packaging and sometimes that can be challenging to know. If we or people who have copied us apparently transgress we certainly seek to rectify the situation immediately."
Mr Minto set up Revolution Beauty just eight years ago with fellow makeup industry veteran, Tom Allsworth.
The company, which makes affordable and cruelty-free cosmetics, skin care and hair products, is now planning to sell shares in the business on the London Stock Exchange.
The flotation, which is set to take place in July, is expected to value Revolution Beauty at as much as £500m.
While Revolution Beauty sells its products through retailers such as Superdrug and Boots and online fashion websites including ASOS, Boohoo and PrettyLittleThing, it also has a strong presence on social media and works with influencers.
The company says it is able to "identify early trends in the market through its influencer, consumer and retailer channels" which allow it to bring products to market in 16 weeks.
This compares to beauty industry norms which could see a product, from inception to development, take as long as two years to launch.
Mr Minto said that the company has a weekly meeting to assess its products and see what consumers actually want.
"We look at what the consumer is wanting and needing and researching and looking for by various means - whether they are searching on our website for products, whether new ingredients are coming to market [and] new trends."
He said the strategy is different to much of the beauty industry "who rely upon the marketing 'big bet'. So it is all going to be about the new mascara launch and it is going to be on TV".
It means that many cosmetics companies "will launch products quarterly at best and sometimes only twice a year".
No beauty sell-out
Mr Minto said Revolution Beauty has also bucked the usual industry strategy by choosing to float the business instead of selling it to one of the major conglomerates.
"Most beauty founders face a choice," he said. "They face a choice of being sold to L'Oreal or Estee Lauder which is generally how the beauty industry works."
He said he and Mr Allsworth are "founders that don't need to do the sell-out and we believe this brand should be a positive force in the beauty industry that we are trying to build and not be that beauty sell-out".
Mr Minto and executive chairman, Mr Allsworth, own a 52% stake in Revolution Beauty after selling around 48% of the business to investment firm TSG Consumer Partners in 2017.
TSG Consumer Partners is expected to sell the majority of its stake when Revolution Beauty floats next month. It will be replaced as an investor by Jupiter Asset Management which has committed to buy £90m worth of shares in the float.
TSG is also a major shareholder in the craft beer company BrewDog, which is rumoured to be considering a flotation.
Mr Minto said he and Mr Allsworth "will be selling a minimal amount at this stage and staying invested for the next seven years and beyond".
He said: "Why would I sell any one share more than I need to when I fundamentally believe what I'm doing is right and I fundamentally believe we can grow the value of this company?"
The company will also use proceeds from selling shares to "execute its growth plans [and] incentivise the management team and wider employee base" which totals 220 people.
Last March, Revolution Beauty appointed the former chief executive of Sports Direct, Dave Forsey, as managing director.
- Published21 June 2021
- Published21 June 2021