CurrentBody in joint venture with Thakral
UK-based ‘at home’ beauty device retailer CurrentBody has signed a joint venture agreement with Thakral Corporation.
2018 was a year of global expansion for CurrentBody; with the backing of NVM Private Equity, the business has established an international presence in Germany, France, Italy, Spain, Australia and the US. With China being one of the fastest growing markets for beauty devices, the collaboration with Thakral gives CurrentBody distribution in that market.
Thakral’s chief executive, Inderbethal Singh Thakral, said: “The joint venture is part of our strategy to grow our lifestyle division in China. Joining hands with CurrentBody will enable us to create a category-leading position in China’s at-home beauty device market.
“We are looking forward to using our network and strong relationships with various platforms to create true value, together with CurrentBody.”
Laurence Newman, co-founder and CEO of CurrentBody, said: “We are delighted to have Thakral as our strategic partner. Our wealth of experience as an online retailer of at-home beauty devices combined with Thakral’s distribution expertise in China provides us with the perfect strategy to broaden our business footprint and address the needs of Chinese consumer.
“This partnership will place us on a trajectory towards becoming the go-to online platform for at-home beauty devices globally.”