Beauty company sitting pretty after £5m investment

Manchester-based online retailer for home-use beauty devices Currentbody has received a £5m growth capital minority investment from NVM Private Equity.

The investment will help support the next phase of the company’s expansion, supporting its working capital requirements.

Co-founded by Laurence Newman and Andrew Showman claims to be the only website specialising in beauty devices for home use.

It is home to the biggest brands including L’Oréal’s market leading Clarisonic, NuFACE, SmoothSkin, Tria, Wellbox, iluminage and FOREO.

Newman, said: “Our partnership with NVM is a significant step in developing our unique product offering internationally whilst continuing UK growth.

“The team at NVM shared our vision and most importantly immediately understood the market opportunity of a pure-play beauty technology platform, making them an ideal cultural fit.

“Working with NVM will accelerate our ambition to provide the largest selection of clinically proven, at-home health and beauty technology in the world.”

Liam May, investment manager of NVM Private Equity, said: “Currentbody has enjoyed exceptional growth over the past few years, driven by an energetic and ambitious management team with a deep understanding of the beauty market.

“We are excited to support the company’s next phase of growth, establishing itself as the market leading e-commerce platform for beauty devices in the UK and across the globe.”

Tim Hamilton, partner at Pannone Corporate, advised NVM

Click here to sign up to receive our new South West business news...