Axel Johnson has today acquired 70 percent of the shares in Skincity. With the acquisition, Axel Johnson widens its offering within beauty and strengthens its position within e-commerce. Skincity, which sells skin care products online, was founded in 2011 and has grown strongly and been profitable since its inception. The company will continue to operate independently.
An important part of Skincity’s offer is specialist knowledge in skin care which is reflected in both the product range and customer advice. Most people who work at Skincity are certified skin therapists. The company was founded by Annica Forsgren Kjellman, skin therapist and former PR and Product Manager, and Mikael Kjellman, entrepreneur with previous experience in E-commerce. In 2014, Rite Ventures joined as a partner in the company. The founders and Rite Ventures remain minority owners, and Annica Forsgren Kjellman and Mikael Kjellman remain in the company in their current positions.
“With Skincity, Axel Johnson gets an activity focused on skin care products and professional online advice. Beauty – skin care and makeup – is an area we strongly believe in, and we look forward to working with Annica, Mikael and Rite Ventures,” said Mia Brunell Livfors, President and CEO, Axel Johnson.
“Since the start of 2011, we have been working to make Skincity a leading player in skin care online. The company is now ready to take the next step in its development, and we therefore welcome Axel Johnson as the new principal owner of Skincity. Through its expertise in trade and broad contact networks in Sweden as well as internationally, Axel Johnson is an attractive long-term partner to continue building Skincity’s position in the Nordic market and expanding internationally, says Mikael Kjellman, founder and CEO Skincity.
“We have focused on the customer from the start – offering the best products and tailor-made advice in which we cater for each and every customer’s needs. The customer experience, knowledge and constant work on developing Skincity’s offer permeates our corporate culture. We see that our philosophy fits well with Axel Johnson’s culture and can thrive and develop with the long-term view Axel Johnson represents”, says Annica Forsgren Kjellman, founder and Head of Concept, Skincity.
“We saw early on the potential of Skincity’s business idea and offering, and have worked with the founders to build Skincity to become a leading player in skin care online. Axel Johnson shares Skincity’s long-term ambitions and values, and it is with pleasure that we take the next step in the company’s development with them, “says Josephine Salenstedt, partner Rite Ventures.
Read more at www.skincity.se.