Lumene Group, a beauty company from Finland, has acquired the Swedish brand Ida Warg Beauty.
WHO: Founded in 2018 by Ida Warg and the Swedish beauty distributor Letsfaceit Nordic, Ida Warg Beauty offers modern beauty products that are developed and manufactured sustainably using carefully selected ingredients and vegan formulas. The brand is a leading player in the self-tanning category and sells hair and body care products.
Lumene Group has 53 years of history and a market-leading position of 50 years in its home country of Finland. A pioneer in circular beauty for two decades, it carries three brands: the core brand Lumene focuses on circular skincare and makeup products; Cutrin is the Nordic hair and scalp brand for professional use; and Promise is a professional haircare brand sold only from hair salons.
WHY: The transaction complements Lumene's portfolio with another high-quality brand, strengthening its position in the Nordic beauty market and aligning with the brand's international growth strategy.
IN THEIR OWN WORDS: “We are happy to welcome Ida Warg Beauty and its team to join the Lumene Group family. I feel very proud that Ida Warg chose to sell her company to Lumene Group seeing we share the same values and commitments to sustainability, naturality and high-quality beauty products. I am grateful that Ida and her team at Ida Warg Beauty trust us to continue the great journey for the brand they have worked so hard to build. Through this acquisition we are able to offer consumers an even broader selection of Nordic high-quality beauty products,” said Lumene CEO Adrian Innergård.
“Our ambition is to double the business over the next five years through adding international scale while continuing to lead the growth in the Finnish beauty categories. Growing Ida Warg Beauty in parallel with Lumene will generate significant resources to invest further in efficient marketing, building winning team capabilities and ensuring our Finnish factory continues to be a competitive advantage for the Lumene Group,” said Innergård.
“I’m so happy that the journey of Ida Warg Beauty continues with Lumene Group. I’m very impressed with Lumene Group’s view on sustainability and their broad global distribution will open new markets for Ida Warg Beauty as well. I can’t think of a better partner as they have all the resources needed to grow this brand to the next level and make it an even bigger success story," said Warg.
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