The Swedish listed investment company Creades has made a minority investment in the Finnish beauty company Lumene Group. Creades is purchasing a minority share of the company’s stock from the Nordic growth investment company Verdane, which became the majority owner of Lumene Group in 2021.

Lumene Group, one of the leading Nordic beauty companies, has focused on accelerating international growth in recent years. The five-year growth strategy developed in 2023 has created a solid foundation for international expansion. The strategy focuses on increasing the company’s own production capacity, clarifying the geographical focus, and updating the sales and marketing strategy, with a stronger emphasis on digital channels. In 2023, Lumene Group expanded with a new brand by acquiring the Swedish beauty brand IDA WARG Beauty. Now, the journey continues with a new minority owner, bringing new opportunities and resources to support Lumene Group’s growth.

“I am grateful for the excellent partnership with Verdane and for the opportunity to continue this collaboration. At the same time, I am excited about the upcoming cooperation with Creades. The goal of our five-year strategy is to double our revenue by 2028 and make Lumene Group the next big export success out of Finland. I believe that Creades’ expertise and connections will accelerate our growth journey and further improve our chances of success,” says Adrian Innergård, CEO of Lumene Group.

Creades, founded in 2011, is a Swedish listed investment company. The company’s portfolio includes Avanza, Apotea, Inet, Instabee, Klarna, Mentimeter, and StickerApp.

“We have followed Lumene for some time and are very impressed with the work Adrian and his colleagues have carried out over the past two years. We look forward to supporting the company as it enters a phase of accelerated growth and geographical expansion with the goal of further consolidating the Nordic market position and establishing itself in more European markets. Creades has a clear focus on investing in companies that benefit from long-term underlying trends and also companies that are at a crossroads in their development. Lumene meets both of these criteria and we are very pleased to be part of contributing to the company’s future development”, says John Hedberg, CEO of Creades.

“We are proud of the progress Lumene has made throughout our partnership, growing into a leading player in sustainable beauty. With Creades as a new partner, Lumene Group is well positioned to continue its success story. Under the leadership of Adrian and the wider management team, Lumene Group has grown to become a leader in the beauty industry. We’ve worked closely with the business since 2021 and look forward to continuing our partnership”, says Cecilia Nytorp, Principal at Verdane.

Verdane remains the majority owner of Lumene Group.

Lumene Group includes three brands: the core brand LUMENE, which develops and manufactures award-winning skincare, makeup, and hair products; CUTRIN, a professional brand for Nordic hair and sensitive scalp; and IDA WARG Beauty, known especially for its high-quality and affordable self-tanning products as well as body and hair care products. The company’s headquarters, product development, and production are located in Kauklahti, Espoo, where over 80% of the company’s products are manufactured.