12.20.23
Lumene Group, a beauty company from Finland, acquired Ida Warg Beauty. A purchase price was not disclosed.
Ida Warg Beauty, based in Sweden, is a leading player in the self-tanning category—just a few years after launch.
According to Lumene, the acquisition will complement the Group’s portfolio with another high-quality Nordic brand with great growth potential. This transaction strengthens Lumene Group’s position in the Nordic markets and aligns with the international growth strategy.
Ida Warg Beauty was founded in 2018 by Ida Warg. The company marketsy self-tan, hair care and body care products at "accessible prices." The brand has been growing rapidly and in just five years reached net sales of 12 MEUR ($13.1 million) in the latest fiscal year. Ida Warg Beauty offers modern and inspiring beauty products using carefully selected ingredients and vegan formulas, that are developed and manufactured in a sustainable manner.
“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”, said Lumene CEO Adrian Innergård.
Ida Warg, the founder and the previous majority owner, and the current employees from Ida Warg Beauty will continue to work for the brand as part of the Lumene Group team.
“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.
Ida Warg Beauty, based in Sweden, is a leading player in the self-tanning category—just a few years after launch.
According to Lumene, the acquisition will complement the Group’s portfolio with another high-quality Nordic brand with great growth potential. This transaction strengthens Lumene Group’s position in the Nordic markets and aligns with the international growth strategy.
Ida Warg Beauty was founded in 2018 by Ida Warg. The company marketsy self-tan, hair care and body care products at "accessible prices." The brand has been growing rapidly and in just five years reached net sales of 12 MEUR ($13.1 million) in the latest fiscal year. Ida Warg Beauty offers modern and inspiring beauty products using carefully selected ingredients and vegan formulas, that are developed and manufactured in a sustainable manner.
“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”, said Lumene CEO Adrian Innergård.
Ida Warg, the founder and the previous majority owner, and the current employees from Ida Warg Beauty will continue to work for the brand as part of the Lumene Group team.
“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.