The Validus group and the Celina Midelfart investment company Midelfart Capital AS have established a joint company known as VAMI AS.
Validus and Midelfart each own 50% of the company, which focuses on the professional market for hair and skincare. VAMI has already made its first purchase by taking over more than 50% of shares in hairdressing chain Adam og Eva and all shares in wholesale company CM Gruppen CemaPharma AS.
Celina Midelfart impressed by Validus
“Validus has good, broad expertise in running chains, logistics and business development. I’m really pleased that we’ve been able to establish this partnership with Terje Stykket and Validus,” says Celina Midelfart, adding that Validus has a long tradition of developing retail concepts which respect the peculiarities of the industries.
New chains and concepts for the professional beauty market
VAMI will own several elements of the value chain in the professional market for skincare and haircare. As well as owning existing chains and distribution companies, establishing new chains and concepts may also take place for the professional beauty market,” says Odd Runar Knudsen, Chairman of the new company.
Few hairdressing chains in Norway
There are currently around 5500 hairdressing salons in Norway. Their total annual turnover is somewhere between NOK 5 billion and NOK 6 billion. With a couple of exceptions, there is not much in the way of chain mergers in the industry. The same is true for skincare and beauty salons.
Interesting operations for economies of scale
“The professional beauty market is fragmented and not very professionalised, and consists at present of relatively few major players and a series of smaller ones. We perceive interesting opportunities for economies of scale, as well as – not least – the ongoing development and refinement of the services and products on offer in the professional beauty market,” says Knudsen.
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