Gal­way-based Slen­der­tone maker de­liv­ers €2m profit

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - Saman­tha Mc­caugh­ren

THE Gal­way-based Bio-med­i­cal Re­search Group (BMR), which makes the Slen­der­tone and Flex Belt mus­cle-ton­ing belts, re­ported an op­er­at­ing profit of al­most €2.3m in 2017 af­ter a loss of €8.4m the pre­vi­ous year.

New ac­counts also de­tail the dis­posal of the ma­jor­ity stake in its med­i­cal de­vice sub­sidiary — At­lantic Ther­a­peu­tics Group Lim­ited — in Fe­bru­ary 2017 for €15m. It was bought by a con­sor­tium that in­cluded key man­age­ment, Early Bird Cap­i­tal and Ser­oba Life Sciences.

In 2017, the group also moved its Euro­pean mar­ket­ing op­er­a­tions from the UK back to its global head­quar­ters in Gal­way, join­ing the R&D team and se­nior man­age­ment al­ready based there. It re­cruited for a num­ber of roles in the ar­eas of dig­i­tal mar­ket­ing and e-com­merce — with dig­i­tal sales on Slen­der­tone.com rep­re­sent­ing 12pc of over­all sales in 2018.

The Flex Belt brand is sold ex­clu­sively in the US. Fol­low­ing a suc­cess­ful on­line cam­paign in 2017 BMR has sig­nif­i­cantly in­creased its busi­ness, with the QVC home shop­ping net­work pro­mot­ing the brand in 2018. US re­tail gi­ants Costco and Tar­get will also be stock­ing its new­est prod­uct, Slen­der­tone Cor­e­fit, in 2019.

The Flex Belt is en­dorsed by ac­tresses Lisa Rinna and Denise Richards from the Real Housewives of Bev­erly Hills on Bravo TV.

The Asian mar­ket shows strong po­ten­tial for growth ac­cord­ing to Brian Shee­han, CEO of the BMR Group. “Sales for the Slen­der­tone brands in China tre­bled in 2018 on the back of in­vest­ment in lo­cal per­son­nel and distri­bu­tion net­works while the Korean and Ja­panese mar­kets have con­tin­ued to per­form well.

“In Eu­rope, we’re step­ping up our mar­ket­ing ac­tiv­i­ties in the UK and France, with a brand­new TV ad­ver­tis­ing cam­paign in both coun­tries planned for the first quar­ter of 2019 to pro­mote the re­cently launched Slen­der­tone Abs8. We’ve also re­cruited key ac­count man­agers for the Ger­man and Span­ish mar­kets to help grow sales in 2019.”

Group turnover de­creased to €44,808,655 in 2017 from €52,490,917 in 2016 due in part to the dis­posal of the At­lantic Ther­a­peu­tics Group.

star Denise Richards is a Slen­der­tone am­bas­sador

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