With the habit of the fingers draws Rickard Lyko out one drawer after another in the warehouse. In the blue bins is a nail Polish and lipstick that are waiting to get a place on the shelf. 82 kilometers west of Borlänge, located Lykos headquarters, located in Vansbro.
the Business saw its first light when Frans Lyko came to Sweden. After having survived six years in concentration camps, he decided to open a hairdressing salon in Vansbro, 1952.
in 2018, the company had a turnover of 590 million and today there are 39 stores spread in Sweden and Norway. Recently launched online operations also in Finland. What once started as a local hair salon are now counted as a successful e-trading in hair care products and cosmetics. Last year they won the title of ”Year’s best e-commerce” in Retail awards.
In the blue slots is a nail Polish and lipstick that are waiting to get a place on the shelf. Photo: Pernilla Wahlman
But the road from small businesses to nätjätte, there have been several crucial decisions along the way. After Frans Lyko took his son Stefan Lyko across the business. In 2003 he started a försäljningsplattform on the internet. At the same time as retirement approached I got more and more orders to the company. Finally, he considered closing down the business.
“Dad had probably put down the company if I didn’t move home,” says Rickard Lyko, ceo and third generation in the family.
in 2008, he stepped into the role of ceo, and invested heavily to develop the e-commerce. 30 million people visited the website during the last year, which also won the prize for the best nordic website. But really had Rickard Lyko promised himself to never return to the place of origin.
“I used to live, including abroad, and was not one bit interested in working with the family, so it felt like a defeat when I moved home again to my old boy’s room,” he says.
the stock market crash was crucial for the newly graduated economist who not got a job. The solution was to move home and thus succeed grandfather and father. Despite the fact that Rickard Lyko passionate about e-commerce he stresses that their recipe for success has been to combine online with sales in physical stores. In other words, to blur the boundaries and provide a whole.
– The best is to have both stores and online sales, I think many underestimate the store in force, we could for example expand the product range, thanks to more facilities and also strengthen our brand by them, ” he says.
Rickard Lyko, together with the Andé Ihlar, onlineförsäljningschef on Lyko. Photo: Pernilla Wahlman
Under his leadership, the company purchased hårvårdskedjan Bellbox and their salons. The purchase gave them access to 30 physical stores in Sweden and Norway, but the deal was not completely spotless. In order to afford to buy the lounges, the company took a loan of 190 million sek from venture capital firm Fidelio Capital, which stood as the seller of the Bellbox.
“Really wanted to Fidelio Capital to buy us but the third time they asked, I suggested that we buy them instead,” says Rickard Lyko.
the Idea was to pay back the loan with profits from the operation. Despite the fact that both earnings and sales grew failed the company to reach the top of the amount including the repayments. 2017 had Lyko listed on the stock exchange when the private equity firm wanted its money back.
Despite the listing, half the company stayed within the family and there are no plans to sell the shares. In 2019 staking Lyko on the move to an automated warehouse in Vansbro. But Rickard Lyko also want to continue to blur the boundaries between e-commerce and physical stores.
– We have become good at letting both parts to maximize its good effects, one must simply learn to understand how försäljningsdynamiken works, and become the best at what you do, ” he says.
