Scandinavian Cosmetics was founded by Ulf Ljunggren, in 1984. He founded the company when he took over the distribution of the American makeup and cosmetics brand Max Factor. Ulf spread the distribution to small and large retailers covering all of Sweden, including major department stores. The company increased the portfolio of internationally recognized brands, such as Clarins, Dolce & Gabbana, Gucci, Hugo Boss and many more. Ulf managed the company for 27 years, with an increasing profitability year on year, without a single loss-making year. The company was sold to Valora, a Swiss publicly traded conglomerate in the third quarter of 2011. The company continued to be managed in the same familial manner, as Ulf remained the Executive Chairman for the coming 3 years, to oversee the transition.
During the 27 years Scandinavian Cosmetics became partial owner of Engelschiøn Marwell Hauge in Norway, Nordic Cosmetics in Finland and Siroscan in Poland. These companies have the same business structure of distributing major international cosmetics, skincare and fragrance brands in their respective countries. Engelschiøn Marwell Hauge was also purchased by Valora, in 2009. The Finish and Polish companies were sold to the other respective partial owner, in 2014.
Malmö City is a real estate company, with properties centrally located in the city of Malmö, Sweden. The company has a stable turnover of approximately €8 million annually, which is based on rental income. Their assets are currently valued over €100 million. Malmö City has experienced a stable growt during the previous 15 years, with an increased portfolio and increased profits.
Incos Invest has been shareholder in Malmö City since 2002, when their turnover was around €2 million, with assets valued at €20 million. Incos Invest participated as a financial investor in order to facilitate the growth of the company. The shares in Malmö City were sold in 2015, to one of the larger shareholders.