Introduction to Currentbody
The owner of Currentbody, a brand of beauty technology used by celebrities, has selected a director to head an autumn flotation in London. Elaine O’Donnell, former EY partner and auditor, was appointed as managing director of the Beauty Tech Group.
Appointment and Preparation
The appointment of Ms. O’Donnell is part of the company’s preparations for a stock market listing for around 350 million GBP. Formerly Chairman of the Games Workshop, Ms. O’Donnell is expected to monitor the appointment of other non-managing directors in front of a first public offering (IPO).
Company Overview
The Beauty Tech Group, which includes the brands Currentbody, Ziip Beauty, and Tria Laser, is a global industry leader in home use technology. The company focuses on products that use LED, radio frequency, microstrom, and laser treatments.
Financial Performance
The company recorded a significant increase in sales last year, with sales passing the 100 million GBP mark for the first time in 2023. The income includes almost a quarter from Great Britain and 77% internationally.
Market Growth
The market for Beauty Technology is expected to grow from 2.7 billion GBP in global sales in 2023 with an annual growth rate of up to 17% to 2026.
Strategic Plans
In a statement, Mr. Newman said that 2024 was another significant year financially and strategically. The company has achieved sales of over 100 million GBP and successfully acquired Tria Laser and completed the integration of Ziip beauty. The group now focuses exclusively on products for its own brands.
Partnerships and Research
The Beauty Tech Group has Harrods among their retail partners, while their products are also sold to more than 20 direct-to-consumer websites around the world. Recently, the dermatology department of the Manchester University has teamed up to research opportunities for advanced beauty technologies.
Conclusion
The company’s strong performance and increasing international demand offer a basis for the next stage of their global growth. The group is considering its strategic options, which may include a London IPO this year.
