The company, today known as Ilirija d. o. o., started in 1908, when the company's founder, Franc Golob, together with 6 of his associates started a company called Golob & Ko. They started manufacturing shoe and leather cleaning products for which Ilirija brand name was used for the first time. After some time, the factory was renamed to Ilirija.

In 1923 Ivan Rozman, an extraordinary chemist, became his partner. He used his knowledge to expand the production to candles, washing and nourishing soaps and washing powders.

After the 2nd World War the company was renamed to Kemična tovarna Ilirija Vič. Under this new name it started a rapid development, mainly in hair cosmetics, which is still the leading production line of the company. In 1975, after the merger with Vedrog Cosmetics Company, Ilirija was renamed Ilirija Vedrog, thus incorporating the four basic production lines: hair cosmetics, cosmetics, chemicals and candles. The story of Subrina, the hair care line, started in 1958. Ilirija introduced the first conditioner for rapid hair regeneration under the brand name Subrina. With that, Ilirija completed the Narta shampoos line, now known as Ilirija 1098, with for that time unique product in hair care, a conditioner. This product changed the habits of consumers and hair dressers thoroughly and set a new boundary stone on the field of hair care products. The conditioner contained a new ingredient, that regenerates the hair's cuticle instantly after applying and made soft, shiny and vital hair possible. Users at home could get rid of damaged hair, combing became easier and for hairdressers it became much easier to style hair.

Ilirija was a Wella license production partner from 1963 to 1992. From the 1980's until the year 2000, Ilirija produced candles for IKEA.

In 2003, the new management that is still in place today took over and in 2006, Ilirija acquired the cosmetic company Lek Kozmetika from Novartis.

Before Slovenia became independent in 1991, Ilirija's main markets were the republics of the former Yugoslavia, but this was radically changed after the country's collapse. Through intensive development and improvements of existing products, with the consideration of new trends, and with an environmentally conscious attitude Ilirija expanded to foreign markets while at the same time strengthening its position on the local market.