Axel Johnson is the largest owner of Skincity online skincare store. Now the investment company is buying the founders’ remaining 18 percent holdings.
Skincity sells skin care and makeup products online. The company was founded in 2011 by dermatologist Anika Forsgren Kellmann and her husband, Michael Kellman, with a long e-commerce background. The majority of the company’s employees are dermatologists.
Axel Johnson It entered as the principal owner of Skincity 2017 and is now buying the remaining shares from the founders. Since then, sales have more than doubled to 560 million SEK by 2020. Today, sales are in many countries where 30% of sales are to Sweden.
“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 wonderful cooperation and trust in every step of Skincity’s journey, ”said Jacob Wall, Director of Business Development, Axel Johnson and Chairman of Skincity, in a statement.
Axel Johnson is also the owner of the Kicks cosmetics and skincare chain.