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Revolution Beauty has tough first half but founders’ return sees business uptick

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November 27, 2025

Revolution Beauty Group’s half-year results showed continuing declines on Thursday with the six months to late August clearly a tough time for the business. 

Revolution Beauty

The multi-channel mass beauty brand said revenue fell 31.8% to £49.4 million while gross profit was down by a similar percentage at £15.9 million. 

The gross margin increased, but only marginally, to 32.2% from 32% and operating costs edged down by almost 4%.

But that was the only good news with adjusted EBITDA being a loss of £12.5 million, almost double the £6.3 million loss in the previous year.

The operating loss at the company also widened considerably from £9.8 million last time to £16.7 million this time and the loss before tax increased from £10.9 million to £18.4 million. Net debt at the company also grew by almost £5 million to over £30 million.

So what were the drivers behind these numbers? The company said the revenue drop was primarily driven by disruption carried over from prior-year strategic and operational issues.

Transitional challenges also weighed on the net sales performance, most notably the shift from Relove to Revolution at Walmart, “which contributed to short-term softness in sales and operational efficiency during the period”.

And the very minimal increase in the gross margin was blamed on “clearance sales undertaken to generate cash under the previous management team prior to the refinancing”.

That refinancing saw the business also undertaking an equity raise, “strengthening the balance sheet and restoring financial stability”, subsequent to the results reported here.

As for “previous management”, a few days before the end of the period covered, the company announced the proposed return of the founders to the business, Tom Allsworth as CEO and Adam Minto in a consultancy role. This “was a key aspect of the success of the debt and equity refinancing”.

So what of the future? Revolution said that “following the period end, the founders have brought renewed energy, clear leadership and strategy to the business”. And the return of the founders “has been well received by our wholesale partners and there are encouraging early signs of a stabilisation of sales”.

In September and October, following the early action taken on costs, the group moved back to generating positive EBITDA.

The new management team is focused on “restoring sales momentum, improving financial discipline, and rebuilding confidence”. Its operational priorities include “rebuilding our ranges, pricing and speed to market to restore what made Revolution Beauty a success in the first place. Early progress has been made to identify a number of exciting NPD opportunities for launch in spring 2026”.

A “significant headcount reduction”, from 205 (excluding production staff) as of 1 March to 123 currently, has been implemented, “right-sizing the organisation to match the current scale of operations and ensure the group can move forward with agility”.

Management has also “successfully negotiated price adjustments with US retailers, to mitigate tariffs costs, which will benefit the next financial year”.

But the business also issued a profit warning, This came as it said “the performance achieved under the previous management for the first half was worse than expected”. So “full-year sales and adjusted EBITDA will not match the guidance given on 22 August”.

That said, “with the actions taken by the new management to right-size the cost base, set realistic budgets and manage stock carefully, the business has already returned to generating EBITDA profitability. Consequently, with these actions taken and with new foundations and strategy, the company expects to have established an Adjusted EBITDA run rate by the end of FY26 in line with previous guidance of £8 million-£10 million with an Adjusted EBITDA outturn for the second half of FY26 in the region of £4 million.

CEO Tom Allsworth said of all this: “Although I was not part of the business during the six-month reporting period, it is clear that the group faced a number of significant challenges. I recognise the impact this has had on our people, our partners and our performance. However, with the actions taken since the period end, we have laid the foundations for a more disciplined, focused and resilient business.”

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L’Oreal to invest $383 million in Indian beauty tech hub

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January 21, 2026

French cosmetics giant L’Oreal said on Wednesday it will set up a beauty tech hub in the south Indian city of Hyderabad with an initial investment ⁠of over 35 billion rupees ($383.4 million).

L’Oréal

The hub aims to be a global ⁠base for AI-driven beauty innovation, create 2,000 tech jobs through 2030, and speed up the rollout of ‍advanced ‌AI beauty solutions, the company said in a ⁠statement.

Nicolas Hieronimus, L’Oreal’s ‌CEO, and the state government of Telangana ‌formalized the partnership at the World Economic Forum, Davos.

Telangana has rapidly emerged as a key investment and technology hub in southern India.

Bilateral ‍trade between India and France stood at $15 billion in 2024, and Indian Prime Minister ‌Narendra ⁠Modi ​and French President Emmanuel Macron have ⁠been ​forging warmer ties.

The two sides have also been working to recast their tax treaty since ​2024 to modernize it by adapting global standards on tax transparency, Reuters ⁠reported in December.
 

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Swarovski appoints new North America general manager

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January 21, 2026

Swarovski on Tuesday announced the appointment of Sindhu Culas to the role of president, general manager, North America at the Austrian jewelry maker.

Sindhu Culas – Courtesy

Based in the luxury firm’s New York City office, Culas will be responsible for “maximizing the Swarovski physical and digital presence and overall brand affinity in the U.S.,” according to a press release.

“We are thrilled to welcome Sindhu to Swarovski. Her vast leadership experience and passion for the brand make her an exceptional addition to our team,” said Kolja Kiofsky, chief commercial officer, Swarovski.

“With Sindhu guiding our next chapter in North America, we are looking ahead to an exciting future filled with creativity, operational excellence, and meaningful growth under our LuxIgnite strategy.” 

A retail veteran with over 25 years of experience across omni‑channel retail and institutional investment management, Culas joins the crystal jewelry maker from G-Star, where she served as CEO of North America at the British denim and apparel brand.

She began her career as a buyer and planner at Macy’s, Talbots, and Lord & Taylor before being promoted to strategy and brand management at Macy’s. Later on, the executive served as senior vendor manager at Amazon and as senior vice president of e‑commerce and strategy for Calvin Klein

“Watching Swarovski’s brand repositioning and momentum in recent years has been inspiring,” said Culas, in response to her new appointment.

“I’m excited to join this exceptional team, collaborate across the business, and help strengthen our position while accelerating growth throughout North America. It’s a remarkable moment for the brand, and I’m thrilled to contribute to the journey ahead.”

Culas’ appointment comes as the luxury jeweller looks to strengthen its position in the North America market. In October, Swarovski’s traveling exhibition “Masters of Light” made its U.S. debut on at the Amoeba Music venue in Los Angeles, coinciding with a collaborative collection with luxury grocer, Erewhon.

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Bourrienne Paris X and its shirts aim to stand test of time

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January 21, 2026

There are stories you simply couldn’t invent. The tale of Bourrienne Paris X, a finalist for the DHL 2025 Award, is one of them. The French shirtmaker for men and women, co-founded in 2017—among others—by two women with entirely different backgrounds, is now entering a phase that balances dynamic expansion with a quest for longevity, projecting growth of over 50% in 2025 and an equally high target for 2026.

Cécile Faucheur is the label’s artistic director – Bourrienne Paris X

The designer behind the Bourrienne Paris X collections is Cécile Faucheur. A former fashion design teacher, pattern cutter and stylist, she is now head of design at the brand she co-founded. Her research at the Musée de la Chemiserie in Argenton-sur-Creuse captivated both her and Charles Beigbeder (who had just taken over the Hôtel de Bourrienne in Paris), prompting them to dedicate a men’s shirting brand to the building.

Historical details and diverse trajectories

For her part, Carine Beigbeder, co-founder and CEO of Bourrienne Paris X, draws on a background that spans finance and entrepreneurship. She previously managed a listed small-cap fund at Financière Arbevel. Her analysis of companies’ business plans and strategies spurred her to take on an operational role—one she now fulfils at Bourrienne Paris X. A luxury brand, or at least on the way to becoming one, the label currently employs around ten people and is attempting to compete with luxury giants such as Hermès in a niche that has, until now, been very narrow: the shirt.

Carine Beigbeder aims to bring longevity to Bourrienne Paris X
Carine Beigbeder aims to bring longevity to Bourrienne Paris X – Bourrienne Paris X

“The idea was to build a brand inspired by historical details and the shirtmakers of yesteryear. We realised that the men’s wardrobe had lost much of the richness it once had.”

Today, the Bourrienne Paris X wardrobe is rooted in both French stylistic heritage and modern fashion, having opened up to womenswear as early as its second season. This now accounts for more than half of the house’s turnover.

In search of quality materials

“For women, the shirt was a vehicle of emancipation as womenswear became uncorseted and a little freer. It wasn’t necessarily at the same time, but that’s not the point,” explained Beigbeder.

Bourrienne Paris X now goes beyond the shirt and has launched men’s trousers on pre-order, cut from a very heavy Belgian linen, “as if coated with a fine layer of beeswax, which gives it a very new and very innovative look,” in the CEO’s words.

Details play an important role in Cécile Faucheur's work
Details play an important role in Cécile Faucheur’s work – Bourrienne Paris X

At Bourrienne Paris X, the linen comes from Belgium, the poplin from Italy, the embroidered trims inspired by the Hôtel de Bourrienne are made by a century-old manufacturer in northern France, the pleating by a Breton artisan, and the mother-of-pearl is sourced from Australia. The shirts, meanwhile, are made in Portuguese and Romanian workshops, and the house is considering other production sites elsewhere in Eastern Europe.

Priority given to digital

Soon to mark its tenth anniversary, Bourrienne Paris X is now in its third year of profitability. Struck by the Covid-19 pandemic after a loss-making start, the brand managed to “keep its head above water,” thanks to digital, which provides sufficient data to respond to its customers’ tastes. The company has self-financed its digital investments and plans to double them in 2026 to accelerate growth, a priority given that its e-commerce site generates over 50% of its sales.

Bourrienne Paris X is largely inspired by the Hôtel de Bourrienne
Bourrienne Paris X is largely inspired by the Hôtel de Bourrienne – Hôtel de Bourrienne

Bourrienne Paris X also invests in SEO, and in Google, Pinterest and Meta campaigns tailored to each of the countries where it is sold, namely the United States, England, Switzerland, Canada and Australia. Customs duties, included in the final price across the Atlantic, are no longer an issue for the brand, thanks to the purchasing power of its American customers.

International expansion

With 60% of its sales generated abroad, the label is stocked by a number of department stores, including Le Bon Marché’s men’s department in Paris, as well as Bongénie in Geneva and Zurich, Lane Crawford in Hong Kong, and Isetan, Tomorrowland, United Arrows and Wako in Japan. This is why it is presenting its project to the DHL Prize jury this year.

The brand is a finalist for the DHL 2025 Award
The brand is a finalist for the DHL 2025 Award – Bourrienne Paris X

The brand remains based at 58 Rue d’Hauteville, opposite the Hôtel of the same name, in the 10th arrondissement of Paris. It’s not unusual for curious customers to be invited to discover the place that inspires the brand with each new collection. The brand’s desire to prioritise digital shapes its approach to welcoming investors, whose most valuable contribution would be their expertise.

For the time being, beyond the brand’s growth, Beigbeder is focused on a mission that is no less important: ensuring that Bourrienne Paris X stands the test of time. A “real challenge” consisting of remaining faithful to the house’s convictions and avoiding, as far as possible, the pull of passing trends.

This article is an automatic translation.

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