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Online fashion retailer Boohoo acquires 7.1% of Revolution Beauty

Published 17/08/2022, 07:44
© Reuters. FILE PHOTO: A woman poses with a smartphone showing the Boohoo app in front of the Boohoo logo on display in this illustration taken September 30, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -British online fashion retailer Boohoo said on Wednesday it had acquired a 7.1% stake in Revolution Beauty Group, making it the fourth-largest shareholder of the beauty products maker.

Boohoo already sells Revolution Beauty products through several of the group's direct-to-consumer brand websites and its online digital department store, Debenhams.

UK-based Revolution Beauty on Aug. 11 had flagged certain accounting issues raised by their auditors which could potentially result in a material impact on the firm's 2022 results, sending its shares down 55%.

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