A beauty devices retailer is eyeing international expansion after its sales and profits rose following a £50m takeover.
A majority stake in Cheadle Hulme-based Currentbody was snapped up by eComplete in November 2021 in a move that provided an exit for BGF.
Launched in the 海角视频 in 2009 by co-founders Laurence Newman and Andrew Showman, CurrentBody had previously secured previous investment from NVM (now Mercia) in 2018 and BGF in 2019.
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eComplete was founded in November 2020 by Paul Gedman, who spent nine years heading up the beauty division at THG, and Andy Duckworth, the former CEO of Myprotein.
According to newly-filed documents with Companies House, Currentbody's turnover increased from £34m to £38.8m in the 12 months to January 31, 2022, while its pre-tax profits improved from £321,303 to £948,835.
A statement signed off by the board said: "FY22 sales increased +14% on FY21 and +145% up on FY20.
"The company continues its drive on internationalisation increasing from 17 localised websites to 21 and investing in localised expertise across people and infrastructure to support our global growth ambitions.
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"Despite testing conditions within the global supply chain, we maintained our sales growth and increased gross margins +2.2%.
"We achieved this through increased investment in stock, increasing cover and additional investment in our purchasing team helping us navigate the freight and component shortages.
"Alongside this we tightened our focus on products and devices which have narrow distribution allowing us to maintain margins, meaning we continue to have the ability to maintain high levels of customer service and marketing investment reflected in an increase to average order value of +£18, FY22 £152.
"Our own brand product range went from strength to strength in the year reaching 28% of total sales as we took the understanding of the sector and the customer needs to increase our product range across the LED category.
"We invested heavily in future new product development which will launch in FY23 and therefore expect to see continued growth in this area."
On its future, the company added: "Looking forward, the company is focusing on international expansion through local websites and warehousing.
"Currentbody has invested heavily over the last two years in their platform operations and central functions allowing them to scale quickly and cost effectively from their existing base."
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