LYMA annual turnover up thanks to innovation and global expansion

London-based wellness brand LYMA has reported a 40% increase in turnover to £32.5 million for FY23, marking another year of double-digit growth.

Described as a "stellar" year for the brand, success was driven by LYMA's innovation in the skincare market, particularly the launch of its anti-ageing serum and cream skincare duo that garnered a waitlist of over 30,000.

Growth was also boosted by the luxury brand's global expansion, having achieved continued US growth as sales of its LYMA Laser increased 43% year-on-year.

The success in the US led to the business opening its first US distribution centre partnership to manage demand.

LYMA's B2B business, which covers retail and professional (clinics/spas) sales, also soared during FY23, delivering an increase of 82% year-on-year.

The brand anticipates ongoing growth in 2024.

Lucy Goff, Founder of LYMA, said: "We are delighted that our continued dedication to true innovation has delivered this strong growth for LYMA.

"These results are exciting to see and we are continuing to push forward with new innovations that will positively impact the lives of our customers in new and groundbreaking ways."

Founded in 2018, luxury well-tech brand LYMA was inspired by Goff's own health struggles with septicaemia, after the birth of her daughter in 2012.

The brand first launched with The LYMA Supplement and later introduced The LYMA Laser, which it describes as the "world's most powerful at-home beauty device". It entered the skincare category with its serum and cream last year.

LYMA also recently launched its LYMA Laser PRO - a triple strength version of its original laser device that delivers transformative cosmetic results for the face and body. The new device, which isn’t yet available in the US, has a price tag of £4,995 and has sold out twice.