Aesthetic device company Syneron Medical announced it has completed its previously announced agreement with Unilever Ventures to create a global joint venture in home beauty devices. The new joint venture, Iluminage Beauty, aims to develop and bring to consumers innovative, high-performance beauty solutions, empowering them with professional level devices for at-home use.
Shimon Eckhouse, CEO of Syneron Medical, commented, "We believe Iluminage Beauty is well positioned to gain share in the home beauty device market. The joint venture structure will allow us to focus on driving growth in our professional aesthetic business while also maximizing the value of our investment in our home-use business."
The joint venture will leverage Unilever's global experience in the development and marketing of consumer beauty products and Syneron Medical's expertise in professional aesthetic device technology.