Verdane has partially realized its investment in Finnish beauty brand Lumene Group, introducing Creades as a new investor while maintaining majority ownership to support the company's growth and expansion in the sustainable beauty market.

Information on the Target

Lumene Group, based in Espoo, Finland, specializes in the development and manufacturing of high-quality, sustainable skincare, makeup, and haircare products. The company operates under three prominent Nordic beauty brands: LUMENE, CUTRIN, and IDA WARG Beauty. These brands are distributed in 23 countries, and Lumene Group's online store services a global consumer base. Since the leadership of CEO Adrian Innergård commenced in 2023, the company has made significant strides toward expansion, highlighting a commitment to enhancing production capacity and refining its sales and marketing strategies with a strong focus on digital channels.

In 2024, Lumene Group reported net sales of €102 million, reflecting a growth rate of over 8% compared to the previous year, alongside an EBIT of approximately €8.3 million, excluding goodwill amortization. This growth trajectory positions Lumene Group as a key player in the Nordic beauty sector, ready to capitalize on its brand strength and operational enhancements to extend its market reach.

Industry Overview in Finland

The Finnish beauty industry is marked by a growing consumer preference for sustainable and eco-friendly products. With increasing awareness of environmental issues, consumers are incre