// Boohoo has snapped up a 7.1% share in Revolution Beauty
// The online retailer said the investment reflects its belief in the retail growth potential of Revolution
Boohoo has made a strategic investment in Revolution Beauty taking its shareholding in the retailer to 7.1%.
Boohoo had previously been a shareholder but held less than 3% of shares in Revolution before more than doubling its stake last week.
The online retailer said: “The investment builds upon the existing relationship between Boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several of the group’s direct to consumer brand websites and its online digital department store Debenhams.
“The investment reflects boohoo’s belief in the retail growth potential of Revolution Beauty and it intends to be a supportive stakeholder and long-term partner.”
More to follow.