Lumene Group has acquired Ida Warg Beauty for an undisclosed amount.
This transaction further strengthens Lumene Group’s position in the Nordic markets and aligns with the international growth strategy.
Ida Warg Beauty has been growing rapidly and in five years reached net sales of 12 MEUR in the latest fiscal year.
Ida Warg, founder of Ida Warg Beauty, and the current employees from the brand will continue to work for Ida Warg Beauty.
Adrian Innergård, CEO at Lumene Group, said, "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 even broader selection of Nordic high-quality beauty products."
Innergård Continues, "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."
Ida Warg, founder of Ida Warg Beauty, said, "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."