Lumene Group has acquired the Finnish hair care brand, Promise. The acquisition was executed through Lumene Group’s subsidiary, Cutrin Oy, which acquired the brand from Promise Helsinki Oy. This acquisition complements Lumene Group’s brand portfolio by adding another high-quality Nordic beauty brand with significant growth potential. The transaction further strengthens Lumene Group’s position in the Nordic markets and aligns with its international growth strategy..

Promise is a Finnish hair care brand dedicated to providing high-quality products sold exclusively in hair salons at accessible prices. The brand offers a comprehensive range of products, including shampoos, conditioners, styling products, and color toning treatments. Promise is distinguished by its award-winning unique, colorful, and joyful packaging. The brand is committed to supporting hairdressers and revitalizing the hair care industry.

Since 2022, Cutrin Oy has served as the distributor and has been responsible for product development and manufacturing for the brand. The majority of Promise’s products are manufactured at Lumene Group’s production facility in Espoo, Finland. With the acquisition of Promise, Lumene Group now comprises four renowned Nordic beauty brands: LUMENE, IDA WARG Beauty, CUTRIN, and Promise.

“I’m excited to welcome another high-quality Nordic beauty brand into our brand portfolio. We collaborated with Promise Helsinki to develop the products and launch the brand over the last two years and have received a lot of positive feedback from customers and consumers. We are thrilled about the opportunity to now take the next big step for the brand. I am very grateful that the founders of Promise trust us to continue growing and developing the brand in the future”, says Adrian Innergård, CEO of Lumene Group.

“We are confident in Lumene Group’s ability to further develop and expand the Promise brand. Lumene Group has demonstrated a strong commitment to quality and innovation, which aligns with our vision for Promise. We believe that with the full resources of Lumene Group, Promise will thrive and make a positive difference for the salons and the professional hair care consumers”, says Markku Hakala, co-founder of Promise.

EXPANDING HORIZONS

Lumene Group has demonstrated strong and sustainable growth and profitability over the past years. The year 2024 marked a historic peak for Lumene Group, with the Group achieving net sales of 102 million euros, reflecting 8 percent organic growth.

“Year 2024 marked a year of significant transformation and outstanding achievements for Lumene Group. We concentrated on accelerating our business growth, driven by our ambition to establish Lumene Group as Finland’s next major export success. With a fourth beauty brand in our portfolio, we have even bigger opportunities to expand our reach, innovate our product offerings, and strengthen our position both in the Finnish and global beauty market”, says Adrian Innergård, CEO of Lumene Group.

Following this transaction, Lumene Group owns all rights related to the Promise brand. The transaction takes effect immediately. Further details of the transaction will not be disclosed.