1 week ago
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The proprietor of CurrentBody, a marque of quality exertion utilized by celebrities specified arsenic Kim Kardashian and Serena Williams, has picked a manager of On The Beach and The Gym Group to spearhead an autumn flotation successful London.
Sky News has learnt that Elaine O'Donnell, a erstwhile EY spouse and chartered accountant, has been appointed non-executive seat of The Beauty Tech Group.
Ms O'Donnell's assignment comes arsenic the Manchester-based institution - which comprises the CurrentBody, ZIIP Beauty and Tria Laser brands - steps up preparations for a banal marketplace listing which could worth it astatine astir £350m.
Previously seat of Games Workshop, Ms O'Donnell is expected to oversee the assignment of different non-executive directors up of an archetypal nationalist offering (IPO).
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The timing of an effort to spell nationalist volition beryllium babelike upon marketplace conditions, according to radical adjacent to the company.
Sky News revealed earlier this twelvemonth that The Beauty Tech Group had hired bankers astatine Berenberg to enactment connected the plans.
Run by co-founder and main enforcement Laurence Newman, The Beauty Tesch Group intends to database connected the main London market.
The institution is owned by its absorption squad - led by Mr Newman but besides including co-founder and main exertion serviceman Andrew Showman and concern main Sam Glynn - and a radical of high-net-worth individuals.
It describes itself arsenic a planetary manufacture person successful home-use quality technology, and is focused connected products which usage LED, vigor frequency, microcurrent and laser treatments.
A palmy banal marketplace debut would correspond a affirmative improvement for the London Stock Exchange during a play erstwhile searching questions are being posed astir its attractiveness arsenic a listing destination.
Several companies person announced plans to displacement their superior listings crossed the Atlantic, the latest of which was payments institution Wise.
The Beauty Tech Group saw a important summation successful gross past year, with income passing the £100m people for the archetypal time, up from £80m successful 2023.
Its revenues comprise conscionable nether a 4th from the UK and 77% internationally.
Since the opening of this year, it has been exclusively focused connected own-brand sales.
The quality exertion marketplace is projected to turn from £2.7bn successful planetary income successful 2023 astatine a compound yearly maturation complaint of up to 17% until 2026, according to a study by the nonrecreational services steadfast PricewaterhouseCoopers.
In a connection issued to Sky News earlier this year, Mr Newman said: "2024 was different important twelvemonth financially and strategically for the Group.
"We delivered gross of implicit £100m and successfully acquired Tria Laser portion besides completing the integration of ZIIP Beauty.
"These acquisitions person diversified and accrued the Group's merchandise offering crossed the rapidly increasing quality tech marketplace and, successful enactment with our strategical ambitions, the Group is present focused exclusively connected own-brand products.
"I americium pleased that the Group's beardown show done 2024 has continued into January and I americium assured that 2025 volition beryllium different grounds year.
"As expanding planetary request and the Group's operational infrastructure supply foundations for the adjacent signifier of its planetary growth, the Group is considering its strategical options, which includes a London IPO aboriginal this year."
The Beauty Tech Group counts Harrods among its retail partners, portion its products are besides sold connected much than 20 direct-to-consumer websites astir the world.
It precocious partnered with Manchester University's dermatology section to probe opportunities for precocious quality technologies applicable to areas of user demand, specified arsenic hairsbreadth regrowth and anti-ageing.
The institution declined to remark connected Ms O'Donnell's appointment.
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