22nd Aug 2025 11:53
(Alliance News) - boohoo group PLC on Friday said it was in talks with Revolution Beauty Group PLC about a more formal licence agreement.
Shares in boohoo were 8.1% lower at 14.80 pence each in London, late on Friday morning.
Manchester-based online retailer boohoo said that under the potential licence deal, the make-up manufacturer will supply certain Debenhams brands with branded cosmetics on an exclusive basis, subject to a royalty payment.
boohoo now trades under the Debenhams brand, although an official name change was blocked by shareholders including Sports Direct owner, Frasers Group PLC.
In addition, boohoo confirmed that Debenhams Group has signed an irrevocable undertaking to support Revolution Beauty and intends to subscribe for shares under a proposed fundraise.
Debenhams currently owns around 86.3 million Revolution shares, 27% of its issued share capital, and is its largest shareholder.
Earlier Friday, London-headquartered Revolution Beauty said it had raised GBP15 million via a placing and subscription at 3.00 pence per share. This included a cornerstone investment from the company's co-founders, Tom Allsworth and Adam Minto, along with Debenhams.
Shares in Revolution Beauty were 13% higher at 3.95p in London.
On Thursday, boohoo announced a refinancing, agreeing a new three-year facility which provides access to funding of up to GBP175 million, extending its maturity to August 2028. This replaced boohoo's prior GBP125 million revolving credit facility, which was due to mature in October 2026.
By Jeremy Cutler, Alliance News reporter
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Related Shares:
BoohooRevolution BeautyFrasers Group