The proprietor of CurrentBody, a model of magnificence expertise utilized by celebrities comparable to Kim Kardashian and Serena Williams, has picked a director of On The Seaside and The Fitness center Group to spearhead an autumn flotation in London.
Ms O’Donnell’s appointment comes because the Manchester-based firm – which includes the CurrentBody, ZIIP Magnificence and Tria Laser manufacturers – steps up preparations for a inventory market itemizing which may worth it at about £350m.
Beforehand chair of Video games Workshop, Ms O’Donnell is predicted to supervise the appointment of different non-executive administrators forward of an preliminary public providing (IPO).
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The timing of an try and go public will probably be dependent upon market situations, based on individuals near the corporate.
Run by co-founder and chief govt Laurence Newman, The Magnificence Tech Group intends to listing on the principle London market.
The corporate is owned by its administration workforce – led by Mr Newman but in addition together with co-founder and chief expertise officer Andrew Showman and finance chief Sam Glynn – and a bunch of high-net-worth people.
It describes itself as a worldwide trade chief in home-use magnificence expertise, and is targeted on merchandise which use LED, radio frequency, microcurrent and laser remedies.
A profitable inventory market debut would characterize a constructive growth for the London Inventory Alternate throughout a interval when looking questions are being posed about its attractiveness as a list vacation spot.
A number of firms have introduced plans to shift their main listings throughout the Atlantic, the most recent of which was funds firm Clever.
The Magnificence Tech Group noticed a considerable enhance in income final 12 months, with gross sales passing the £100m mark for the primary time, up from £80m in 2023.
Its revenues comprise just below 1 / 4 from the UK and 77% internationally.
Because the starting of this 12 months, it has been solely centered on own-brand gross sales.
The sweetness expertise market is projected to develop from £2.7bn in world gross sales in 2023 at a compound annual development price of as much as 17% till 2026, based on a report by the skilled providers agency PricewaterhouseCoopers.
“We delivered revenue of over £100m and successfully acquired Tria Laser while also completing the integration of ZIIP Beauty.
“These acquisitions have diversified and elevated the Group’s product providing throughout the quickly rising magnificence tech market and, consistent with our strategic ambitions, the Group is now centered solely on own-brand merchandise.
“I am pleased that the Group’s strong performance through 2024 has continued into January and I am confident that 2025 will be another record year.
“As growing worldwide demand and the Group’s operational infrastructure present foundations for the following stage of its world development, the Group is contemplating its strategic choices, which features a London IPO later this 12 months.”
The Magnificence Tech Group counts Harrods amongst its retail companions, whereas its merchandise are additionally offered on greater than 20 direct-to-consumer web sites all over the world.
It lately partnered with Manchester College’s dermatology division to analysis alternatives for superior magnificence applied sciences related to areas of shopper demand, comparable to hair regrowth and anti-ageing.
The corporate declined to touch upon Ms O’Donnell’s appointment.
