Revolution Beauty's founder and former CEO Adam Minto is throwing his hat into the beauty arena again after announcing a ‘disruptive’ new business venture.
‘Rebel Rebel’ has been described as a “new way for founders and creators to build the most exciting next-generation global beauty and consumer brands together”.
The business is being spearheaded by Minto along with his wife Sally, with further details set to be released this year.
“Waited too long to announce this,” Adam Minto wrote in a LinkedIn post.
“The passion is back! We are busy innovating and getting ready to disrupt the beauty industry again.
“Thank you to everyone who has supported us over the last 2 and 1/2 [sic] years.
“This is going to be very exciting and very big, and we can’t wait to show you what we are creating.”
Revolution Beauty was founded by Minto and Tom Allsworth in 2014.
However, the duo stepped down from their roles amid an accounting probe by accountancy firm BDO into the company in 2022.
This followed the beauty brand's failure to publish its final results for FY22.
The investigation halted the company’s share trading and has since uncovered a string of serious accounting and management failures.
These included Minto and Allsworth making personal loans of around £1m to distributors and a senior employee, which they did not disclose to the board.
Minto stepped down as CEO of the company in November 2022 during the middle of the accounting probe.
The brand then fell under the leadership of former Interim Chief Operating Officer Bob Holt and CFO Elizabeth Lake, following Minto and Allsworth’s resignation.
In September 2023, Lauren Brindley became Revolution Beauty’s new Group CEO.
Brindley has been accountable for leading the beauty brand globally and overseeing its strategic growth, which includes plans to hit £1bn in sales by 2030.
Revolution Beauty reached a settlement agreement with Minto in 2024, with the former founder agreeing to the settlement sum of £2.9m.
This will be paid in six annual instalments of £483,333.
If the settlement sum instalment is not paid on time, Revolution Beauty said interest will be charged at 8% per year.
The brand’s board of directors stated that, having considered its options and legal advice received, this was a “fair settlement for the company”.
(Image Credit: Instagram Rebel Rebel)