Founded in Sweden in 1983, Isadora is a leading cosmetics brand with presence in more than 40 markets, almost 200 employees and own production facilities in Malmö, Sweden, and Bern, Switzerland.
Since Axcel acquired the business in March 2018, the company has invested in a new and strengthened management team and organisation, improved its operational backbone and increased its share of online sales, which today accounts for approximately 20% of revenue.
“We have, over the last couple of years, worked closely with the owners and the Board to ensure positive development in our strategic initiatives and made good progress, despite the difficult market conditions after the outbreak of Covid-19. We thank Axcel for their support and contribution during this period,” says Rasmus Helt Poulsen, CEO of Isadora.
“We would like to thank the management team and all the employees for their effort and dedication under our ownership. We are pleased that we’ve been able to find a good new owner for the business and are looking forward to following the company’s development in the future,” says Christian Schmidt-Jacobsen, Managing Partner of Axcel.
The parties have agreed not to disclose any financial terms.