eComplete acquires $67m majority stake in CurrentBody.com
The World’s Leading Home Use Beauty Device Retailer!
Product (and photo) found on CurrentBody.com
CurrentBody is the world’s only “pure-play” online platform specializing in beauty devices, in the fastest-growing category within the beauty sector. Launched in the UK in 2009 by co-founders, Laurence Newman and Andrew Showman, the business has grown rapidly; and now has 17 international websites with over 14 million users.
For the current calendar year sales, the brand will likely reach $57m, with sales over the next two years, targeting $150m. CurrentBody has quickly become the go-to site in the US too, with their award-winning FDA-cleared mask that is adored by celebrities worldwide.
Photo from CurrentBody.com
The co-founders realized there was a significant commercial opportunity in the fast-growing beauty trend of consumers wanting to use safe and clinically proven devices at home. Via their backgrounds in medical devices technology and e-commerce, Laurence and Andrew made it their mission to ensure that CurrentBody supplies – and more recently manufactures – devices that mimic the equipment used by professionals in salons, medi-spas, and clinics, for customers to buy themselves and use at home.
Founded in 2009 by Laurence Newman and Andrew Showman,
CurrentBody sells at-home beauty tech and LED technology as alternatives to salon treatments.
Photo found on Currentbody.com
As well as their award-winning own brand of devices, the group has exclusive partnerships with some of the world’s market-leading brands. The global home-use beauty device category is expected to be worth $184.9 billion by 2026.
CEO of CurrentBody, Laurence Newman believes eComplete is the ideal partner as CurrentBody targets growth to $150m revenue.
“Whilst we have benefitted from previous rounds of growth capital which helped introduce our own products and further develop brand partnerships, the opportunity to work with Paul, Andy and their team to drive international growth is what makes this so exciting. It is all about bringing in the right people to help us hit the next growth milestones. eComplete brings that immediate resource alongside our already talented teams.”
Paul Gedman, Co-founder of eComplete, said: “CurrentBody is a true expert in an exciting and fast-growing category of beauty with a unique position and incredible global opportunity ahead. With our team’s experience of developing internationally and building strong brand partnerships, it felt like an ideal fit. We are excited to continue the journey with Laurence, Andrew and their talented team.”
Founded in the tech hub of the North West in 2009 by Laurence Newman and Andrew Showman, CurrentBody is today a global leader in beauty-tech and LED technology and the world’s only at-home beauty device pure-play. The company operates 17 dedicated international websites, a joint venture in China, and a physical store within London’s House of Fraser.
For those seeking more information on eComplete.com:
(Text on eComplete is from https://www.ecomplete.com/)
CurrentBody.com will flourish with this partnership with eComplete.com. Both companies will be businesses to watch
to see how CurrentBody.com expands and how eComplete.com works with CurrentBody.com’s founders!
Stevie Wilson
LA-Story.com
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