Boohoo has more than doubled its stake in troubled cosmetics group Revolution Beauty.
The Manchester-headquartered fashion giant has increased its investment from 12.8% to 26.4%, according to documents filed with the London Stock Exchange.
Boohoo first invested in the Kent-based company in August when it snapped up 7.1% of its shares.
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Boohoo is now Revolution Beauty's largest single shareholder. The company was founded by Adam Minto and Tom Allsworth in 2014. It launched on AIM last year.
In a statement, Boohoo said: "The investment builds upon the existing relationship between Boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several of the group's direct to consumer brand websites and its online digital department store, Debenhams.
"The investment reflects Boohoo's belief in the growth potential of Revolution Beauty and it intends to be a supportive stakeholder and long-term partner."
The move comes as Revolution Beauty appointed acting chief operating officer Bob Holt as its new chief executive after its former boss Adam Minto quit earlier this month.
In September an independent investigation was launched into the firm’s failure to complete its auditing quickly enough.
Its shares were suspended from the London Stock Exchange because it was unable to publish its financial results, which were pushed back a second time, while it also warned over lower profits.
Revolution Beauty said the independent investigation being carried out by consultants Forensic Risk Alliance and law firm Macfarlanes remains ongoing, adding that "no conclusions have been drawn".
"An update will be released to the market in due course", it added.
Mr Holt has been acting chief operating officer since October 14, leading the business since Mr Minto and executive chairman Tom Allsworth said they would step away from the day-to-day running of the company. The company said at the time that it was "not a result of any matter arising from the independent investigation to date".
Mr Holt was previously chairman and chief executive of compliance contractor Sureserve, where he helped lead a turnaround of the group, and was also previously chairman at care and social housing contractor Mears, where he worked for more than 23 years.
Mr Holt said: "Over the past six weeks I have seen first-hand the quality of people working at Revolution Beauty, the overall popularity of the brand and innovation of products for customers around the world.
"I believe there is a huge opportunity for the business as it moves ahead and I am confident that, together with the team, we will drive the business forward."
The beauty and skincare giant also warned in September that its financial results for the forthcoming year will be materially below market expectations, despite entering the typically stronger autumn and winter sales period.
It said it has been affected by a number of economic headwinds, including the war in Ukraine, changing consumer spending patterns and cost inflation.
Next year’s results could also be affected by any accounting adjustments that arise once the latest audit is finalised, it warned at the time.
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