The Beauty Tech Group (TBTG), a Cheshire-based company known for its beauty gadgets used by celebrities like Kim Kardashian and Serena Williams, made a strong debut on the London Stock Exchange on Thursday. The company’s shares rose 5% to 285p on Friday from its offer price of 271p, marking a successful flotation valued at around £300 million. The IPO has not only cheered the London stock market after a dearth of listings but has also boosted three venture capital trusts (VCTs) run by Mercia Fund Management.
Northern Venture Trust (NVT), Northern 2 VCT, and Northern 3 VCT, which first invested in TBTG in 2018, have seen significant gains in their holdings following the flotation. TBTG, founded in 2009 by Laurence Newman and Andrew Showman, initially sold third-party at-home beauty devices before shifting to exclusively selling its own-brand products under three main brands in 2019. The company’s product range includes face masks, hair-growth stimulator helmets, and hair-removal gadgets that utilize LED, radio frequency, microcurrent, and laser treatments.
Beauty Tech Group’s market success
The company reported revenues of £101 million and underlying profits of £23 million in 2024, a significant growth from generating under £1 million in annual revenues and being loss-making when the VCTs first invested in 2018. In the first half of 2025, sales rose by 27% to £55.2 million.
Laurence Newman, chief executive and co-founder of TBTG, said, “From establishing ourselves as a global leader in the fast-growing at-home beauty technology market to successfully completing this milestone listing on the London Stock Exchange, the group continues to go from strength to strength. As we enter the next stage of our growth journey, this IPO provides the perfect platform to increase awareness of our three distinct, premium brands and take the group to the next level, while delivering sustained and profitable growth.”
The successful flotation of TBTG comes at a testing time for London’s markets, with several high-profile firms opting for US listings or upgrades to tap deeper pools of capital. However, analysts believe that TBTG’s debut could help restore confidence among investors in the London Stock Exchange.
The at-home beauty market, a growing segment of the larger £464 billion global beauty and personal care sector, is estimated to be worth between £9 billion to £12 billion globally. TBTG’s international growth has significantly contributed to its expansion, with its products now available in over 90 countries worldwide.