Revolution Bars lines up competitive socialising concept

As part of its preliminary results for the year ended 3 July 2021, the group announced plans to open eight new sites over the next two financial years, with the majority expected to be delivered in the 2023 financial year.

Revolution's current portfolio includes 48 Revolution bars and 18 Revolución de Cuba locations. 

Recently, the group launched a third brand called Founders & Co, which has opened on the former Revolution site in Swansea and offers an 'artisanal market-place experience'.

A fourth concept, centred on competitive socialising, is expected to launch in the near future. 

In the 53 weeks to 3 July, Revolution Bars Group reported a pre-tax loss of £26.3m, with revenue falling from £110m to £39.4m

However, the group added that after the first 14 weeks of the 2022 financial year it has already exceeded the total revenue generated in the 2021 financial year and is currently up 137%.

Like-for-like revenue since 19 July, when restrictions fully relaxed in England, is also 14% ahead of the comparable period in the 2020 financial year.

Rob Pitcher, chief executive officer, said: "We are very excited to be back trading and doing what we do best. As we had hoped and expected, our young guest base was ready to return to our bars and we continue to be pleased with our level of trade, reflecting the fun and memorable experiences our teams create for our guests.

"Our strategy, and the investment in our brands and people, is showing real results. We are pleased with the launch of our two new brand concepts, and love to see our two established brands continue to thrive and grow.

"Whilst the disruption caused by Covid has set back our timescales for expansion, we believe that post Covid, our market place and the competitive landscape will be fundamentally different and there will be good opportunities for our brands to expand their estates at a much lower level of investment."