In the beauty world, LED therapy masks and other at-home skincare devices have become must-have items for any skin guru worth their salt.
Last month, Alizila visited CurrentBody in Manchester, in the UK, to learn how this company is working to corner China’s beauty device market.
CurrentBody sells the widest range of at-home skincare devices in the world, including products from third parties as well as its own branded products.
The company has partnered with Alibaba Group’s cross-border marketplace Tmall Global to ramp up its presence in China — home to millions of skincare connoisseurs.
CurrentBody hopes to ride the wave of self-care that has been washing over many Chinese consumers since the pandemic.
“Some of the data out there puts China at around 60-70% of the entire beauty device market,” Laurence Newman, CEO of CurrentBody, told Alizila.
Skincare, health and general pampering are hot topics outside of China as well. The global wellness market is now worth $1.5 trillion and is forecasted to grow 10% annually by consultancy McKinsey
“When we talk about the slightly younger demographic, we often refer to them as ‘skintellectuals’ because they spend so much time researching these types of products,” said Laurence Newman, CEO of CurrentBody.
“In China, they want to know far more, and they want to talk much more about their experiences with these products,” said Laurence Newman, CEO of CurrentBody.
“What we did, by having a platform out in China, was understand what the consumer wanted, and we were able to take some of those products and go the other way and take them into the European and the US market as well,” said Laurence Newman, CEO of CurrentBody.