Axel Johnson becomes full owner of skin care company Skincity after acquiring the 18 percent ownership share from founders Mikael Kjellman and Annica Forsgren Kjellman. Skincity showed strong growth in 2020, and reached a positive result.
Since Axel Johnson first invested in the company in 2017, Skincity’s sales have more than doubled from SEK 277 million to SEK 560 million. In 2017, Skincity was a very Sweden-centered operation, while today sales outside Sweden account for over 30 percent of sales. From not having had any private label products three years ago, today the unique Skincity products account for over 10 percent of sales, a share that is growing strongly.
Jacob Wall, EVP Business Development, Axel Johnson and Chairman of the Board of Skincity:
“Beauty is an important and significant area for Axel Johnson. It has been an eventful couple of years since we became owners, where we have established Skincity in Norway, Finland and the United Kingdom. With a strong team and a unique offer, Skincity has a very interesting position that we look forward to developing further. We would like to extend a warm thank you to Mikael and Annica for a trusting and successful collaboration at every step of Skincity’s journey.”
For more information, please contact:
Jacob Wall, EVP Business Development, Axel Johnson and Chairman of the Board of Skincity
+46 70 212 53 03