Beauty Tech Group Co-Founders Sell £6M in Shares After IPO Success
Laurence Newman and Andrew Showman cashed in following a significant surge in the company's stock price since its London listing.
The co-founders of Beauty Tech Group have sold a combined total of £6 million in shares, a move that follows a notable surge in the company's stock value since its initial public offering in London. Chief executive Laurence Newman and chief technology officer Andrew Showman each offloaded 750,000 shares at a price of 400 pence per share.
This transaction represents the sale of 1.5 million shares, approximately 1.4% of the company's total issued share capital. Beauty Tech Group, based in Cheshire, is known for its portfolio of brands including Currentbody Skin, ZIIP Beauty, and Tria Laser, offering devices such as LED masks and laser hair removers.
Since its £300 million listing on the London Stock Exchange last October, the company's shares have seen a significant increase of 57.6%, driven by robust sales of its beauty devices. Newman, who retains a 3.9% stake in the company, and Showman, who holds 4.1%, co-founded Beauty Tech Group in 2009.
Despite broader economic pressures affecting consumer spending, the company has demonstrated resilience. Its sales for the first half of 2026 reached £79.7 million, marking a 44.3% increase. Newman expressed confidence in the London stock market earlier in the year, describing it as an "undervalued process" and encouraging businesses to consider it.
Beauty Tech Group has continued to achieve record annual sales, even with some of its premium products, like LED masks, retailing at approximately £400. Newman indicated that the company is entering its critical second half of the year with "real momentum."
He also highlighted the company's engagement with the School of Dermatology at Manchester University to leverage artificial intelligence. This collaboration aims to deepen the understanding of various skin and hair types, and to develop devices that can adapt to diverse user needs. While AI is currently used for strategic decision-making, Newman foresees future applications in analyzing clinical study results to refine device efficacy.