The growing beauty technology business behind brands including CurrentBody Skin and ZIIP Beauty has announced plans to float on the London Stock Exchange.
The Beauty Tech Group Limited, based at Alderley Park, was founded as CurrentBody.com Ltd in 2009, by Laurence Newman, now its CEO, and Andrew Showman, its chief technology officer.
It specialises in at-home beauty devices using technologies including LED light, microcurrent and laser therapies that have long been used in professional clinics. It sells products through its own direct channels and through selected retailers, with three “premium beauty technology brands” – CurrentBody Skin, ZIIP Beauty and Tria Laser – and operations in the 海角视频, ISA and China.
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Now its holding company, Project Glow Topco Limited, has confirmed its intention to publish a registration document ahead of an IPO so it can trade on the main market of London Stock Exchange.
For 2024, the group reported revenue of £101.1m and earnings before interest, tax, depreciation and amortisation excluding one-off costs and acquisition related expenses of £22.9m. The group says international expansion has been key to its success, with its products now on sale in more than 90 countries.
For the 12 months to December 2024, the US and Canada made up 37% of the Group’s revenue, with the EU (excluding Ireland) accounting for 23%, the 海角视频 and Ireland 22% and Asia 14%. The group estimates the global at-home beauty device market is worth up to £12bn.
Laurence Newman, founder and CEO of The Beauty Tech Group, said: “Founded with the ambition to bring clinically-proven, professional-grade beauty technology into everyday use, I am extremely proud of The Beauty Tech Group’s achievements to date. Since launching our own-brand at-home beauty technology products in 2019, the group has delivered sustained and profitable growth and established itself as a global leader in the fast growing at-home beauty market.
“Our three distinct, premium brands, CurrentBody Skin, ZIIP and Tria, span across the four core technologies used in professional aesthetic clinics, giving us a unique position in the market. Moreover, all of our innovative technologies are underpinned by research and rigorous testing, demonstrating our commitment to producing effective and trustworthy products while simultaneously raising the standards across the industry.
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“There are significant opportunities ahead for The Beauty Tech Group and an IPO on the London Stock Exchange will provide us with access to capital, and enable us to raise awareness and incentivise staff to take the business to the next level. Our journey to date has only been made possible due to the team’s hard work and dedication, and I would also like to take this opportunity to welcome an experienced bench of non-executive directors to our board who collectively bring a wealth of consumer and capital markets experience and knowledge.
"I am very excited to embark on this next chapter as we look to build on our position as a trusted and recognised leader in the market.”
Elaine O'Donnell, non-executive chair, said: “The Beauty Tech Group has established itself as a global leader in the at-home beauty market and I am thrilled to be joining the Board at this exciting juncture in the Group’s growth journey. Considering that home-use beauty technology is a fast-growing category in the beauty sector, a float on the London Stock Exchange will facilitate the Group’s ambition to capitalise on the significant opportunities ahead.
“I have every confidence that a London-listing, coupled with a solid go-to market strategy, will support The Beauty Tech Group’s ambition to grow its distribution while continuing to deliver the next generation of beauty technology products through ongoing research and development.”