Revolution Beauty founder Adam Minto £3m debt dispute

Revolution Beauty, a UK-based cosmetics company known for its affordable and inclusive beauty products, has found itself at the center of a financial controversy involving its founders. Adam Minto, who co-founded the company in 2014 alongside Tom Allsworth, is currently in negotiations to settle a dispute over allegations that he breached his fiduciary duties to the company.

The London-listed group, which made a splash in the beauty industry with its mass-market range and collaborations with popular media properties like ITV’s “Love Island,” has experienced a tumultuous period following its stock market debut in 2021. The company’s value took a hit due to a series of governance and operational crises, leading to a significant drop in market capitalization from nearly £500m to just £81m as of late November 2023.

Minto, who stepped down as CEO over a year ago, is reportedly in advanced talks to repay nearly £3m. This settlement is…