THE WHAT? Frasers Group, led by retail magnate Mike Ashley, has expressed interest in acquiring London-listed mass-market beauty brand Revolution Beauty, which recently put itself up for sale amid continued financial and structural instability. THE DETAILS Revolution Beauty, best known for its affordable makeup sold through outlets like Superdrug and for youth-focused collaborations such as Love Island, is undergoing a formal sale process after a sharp decline in share value—over 70% in the past year—left its market cap at just £20 million. Frasers Group, which already holds a stake in Debenhams (a major shareholder in Revolution Beauty), is reportedly among the parties evaluating a takeover bid.