Metamorfoza will invest an additional 20 million euros in new Museums of Illusion in 2024

The domestic company Metamorfoza, which owns and operates the franchise of Museum of Illusion, will invest over 20 million euros in six new museums in Europe and the USA. All will be opened this year, said Slaven Kordić, director of Invera Equity Partners, the fund that owns 65 percent of Metamorfoza, to Lider.

– For 2025, we are already starting to raise money and I think we will be at around 30 to 40 million euros. Depending on how much money we raise, that’s how quickly we grow. There is absolutely demand for our products. In 2024, our growth will come from America and Western Europe, a little from Africa, and in 2025 and beyond we have a couple of locations in America that are interesting to us such as Los Angeles, San Francisco, Nashville, and a few more locations, while on the other hand we have Düsseldorf, Barcelona, and Western European cities – said Kordić.

Regarding future plans, Museum of Illusion is considering locations in Australia and New Zealand, and when they will open there depends solely on how quickly they can raise money for expansion to new locations. At this moment, the Museum of Illusion can establish 10 museums and 15 franchises, and by the end of the year, they should be close to 70 open museums worldwide.

– We invested in the Museum of Illusion in 2021, and its growth rate gives us reason to stay in that investment longer than expected. We thought we could get 100 million euros for it, and we received that offer just after a year of operation. Potential investors approach us every quarter and ask us what we want.

At this moment, we have a great team between Europe and America. When we bought the company, it had five employees, now we have 100 in Croatia and over 500 in America. That was a big task for management. To transfer the same emotion to another continent. These are two completely different markets and cultures, but our guys have done a really great job. The founders Tomislav Pamuković and Roko Živković are still with the company, we continue to collaborate excellently and have a great partnership. That is my greatest satisfaction, and perhaps we will earn something as well – Kordić joked.

The first of the announced six new museums opened on Friday in Copenhagen, Denmark. Next month, the new Museum of Illusion will open its doors in Cleveland, USA, followed by St. Louis, Seattle, San Diego, and the British Manchester. By the end of the year, they will also open another 12 franchise museums worldwide, Kordić said.

By the way, the Museum of Illusion is the largest chain of private museums in the world with over 40 locations in 25 countries across Europe, North America, Asia, and Africa. The brand was created and developed in Zagreb as an educational entertainment concept by founders and co-owners Pamuković and Živković, and as things stand, it could be present on all continents in a few years.

– The company is currently developing very nicely and we are not burdened by exit. However, our business is buying and selling businesses, and we are always open to that – concluded Kordić.