LUMENE Group, a Nordic’s leading beauty company from Finland, acquires IDA WARG Beauty. IDA WARG Beauty is a Swedish success story taking a leading market position in the self-tanning category in just a few years after launch and is now positioned as one of the top beauty brands in Sweden. The acquisition will complement LUMENE Group’s portfolio with another high-quality Nordic brand with great growth potential. This transaction further strengthens LUMENE Group’s position in the Nordic markets and aligns with the international growth strategy.
IDA WARG Beauty, founded in 2018 by Ida Warg, is renowned for its high-quality 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 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”, says Adrian Innergård, CEO at LUMENE Group.
“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”, says Ida Warg, founder of IDA WARG Beauty.
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.
LUMENE Group invests in global growth
With 53 years of history and a market-leading position of 50 years in its home country of Finland, LUMENE Group is now growing more rapidly than ever. The net sales in 2023 will be the best in group’s history with over 82 MEUR*.
“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”, says Innergård.
LUMENE Group, a pioneer in circular beauty for two decades, carries three brands; the core brand LUMENE focuses on circular, award-winning skin care and makeup products, CUTRIN is the Nordic hair and scalp expert for professional use and Promise is a professional haircare brand sold only from hair salons.
LUMENE Group acquires 100 % of the shares in IDA WARG Beauty AB. The transaction was signed on 20.12.2023. Further details of the transaction will not be disclosed. The acquisition does not result in any immediate changes in LUMENE or in IDA WARG teams, product ranges, categories or in their production.