Elever Cosmetics – a cosmetics brand from the Zago Capital I portfolio – has entered the Ukrainian market, the fund announced. This decision is the result of the dynamic development of the company and the start of cooperation with Alina Baikova, a model and activist from Ukraine. The company also donated part of the proceeds from the sale to a charitable foundation in Ukraine.
“We are very happy to start cooperation with one of the most recognizable models in the world. This is a big step towards becoming a global cosmetics brand. Ukraine is a large market that has already returned to reality after the war that started over a year ago, including for this reason, we decided to make the Elever website available in Ukrainian and to accept orders from this country as well. In addition, there are a lot of Ukrainian women in Poland, for whom our website in their language will be much simpler and understandable,” said Piotr Zagożdżon, Vice President of the Zago Capital I investment fund, quoted in the release.
Elever Cosmetics may be one of the most important companies of the Zago Capital I fund. It constantly increases the number of clients and product portfolio, and expands cooperation with new ambassadors. The brand also regularly improves its financial results. Its sales in the first quarter of 2023 are 4 times higher than in the corresponding period of 2022. According to its strategy, the Fund plans to allocate EUR 100 million for investments in European entities, mainly from Poland, it was emphasized in the material.
Zago Capital I focuses on investing in the wellness, fitness, personal care, organics, nutrition, dietary supplements, micro-biome and cosmetics industries. The fund is looking for acquisitions that fit into its portfolio of companies, then using all the synergies between them, thus increasing the value of the enterprise. Zago Capital focuses on acquisitions in Central and Eastern Europe.