Axel Johnson becomes the full owner of skincity, after acquiring founders Mikael Kjellmans and Annica Forsgren Kjellman with an 18 percent ownership. The skin showed strong growth in 2020 with a positive result.
Since Axel Johnson originally invested in the company in 2017, Skincity’s sales have more than doubled from 277 million SEK to 560 million SEK. As of 2017 as a distinct Swedish business, sales outside of Sweden today account for more than 30 percent of sales. With no brands of their own three years ago, today Skincity’s unique products account for more than 10 percent of sales, a share that is growing strongly.
Jacob Wall, Director of Business Development, Axel Johnson and Chairman of Skincity:
“Beauty is an important and important area for Axel Johnson. It has been an eventful year since we became owners, establishing Skincity in Norway, Finland and the UK. With a strong team and unique offering, Skincity has a very interesting position and we are looking forward to further development. We would like to advance. Many thanks to Mikael and Annica for their kind cooperation and trust in every step of Skincity’s journey. “
For more information, please contact:
Jacob Wall, Director of Business Development, Axel Johnson and Chairman of Skincity
070-212 53 03