Boohoo greater than doubles stake in Revolution Magnificence to grow to be largest shareholder amidst accountancy probe

THE WHAT? Boohoo has greater than doubled its stake in Revolution Magnificence to grow to be the beauty model’s largest shareholder. 

THE DETAILS The style firm has elevated its funding from 12.8 % to 26.4 %.

Revolution Magnificence has at the moment had its shares suspended because of an accountancy probe, with the corporate left unable to file monetary outcomes. 

Revolution Magnificence lenders have been stated to have employed advisors from Teneo to be able to monitor the scenario amidst the probe. 

THE WHY? Boohoo acknowledged that the funding mirrored its perception within the development potential of the net cosmetics retailer and that’s is aiming to grow to be a “supportive stakeholder and long-term companion.”