In January 2026, a major transaction in the company was reported, with shares worth 400 million Swedish krona changing hands. The deal valued the business at 1 billion Swedish krona, and a new group of external investors took ownership, while previous major shareholders reduced or divested their holdings.
2025 Figures Confirmed
The annual report for the 2025 financial year has now been registered, providing an official picture of how the business developed during the past year. Net sales at Ninepine AB amounted to 330.7 million Swedish krona in 2025, compared to 235.7 million Swedish krona in 2024.
At the same time, the company's operating profit increased to 75.7 million Swedish krona, from 57.6 million Swedish krona the previous year. Profit after financial items amounted to 75.6 million Swedish krona, and profit after tax for the year totaled 59.9 million Swedish krona.
The company's equity ratio remained unchanged at the end of the year at 47 percent, and the average number of employees in Sweden increased during the period from six to nine people.
Marketing and International Expansion
The board explains in the annual report that the increase in sales was driven by repeat customers and an increase in the marketing budget in digital channels. Growth was distributed across both existing and new markets within and outside the EU.
On the Swedish home market, sales increased to 82.6 million Swedish krona from 47.8 million Swedish krona the previous year. Sales also increased in other European markets, with the Netherlands accounting for 51.4 million Swedish krona, Norway for 42.7 million Swedish krona, and the United Kingdom for 39.4 million Swedish krona.
Revenue from other countries within the EU amounted to 80.8 million Swedish krona, while sales to countries outside the EU reached 33.7 million Swedish krona.
Physical Stores as a Complement
During the financial year, the company implemented several strategic initiatives to facilitate international expansion. Among other things, Ninepine BV was established as a wholly-owned subsidiary in the Netherlands, which led to the opening of a new physical store in Amsterdam. The renovation of the store was completed in March 2026.
The company describes its physical stores in Stockholm and Amsterdam as a complement to e-commerce with the aim of supporting the brand and customer relationships. Furthermore, a US company was formed during the year to support expansion into the US market.
Acquisition of the Subsidiary
In 2025, Ninepine AB also acquired 100 percent of NS Apparel AB through a share swap transaction. NS Apparel AB imports and sells men's fashion and sportswear under the brand Noso, primarily directly to consumers online, focusing on the upper premium segment and the US market.
The annual report for NS Apparel AB shows that the subsidiary generated sales of 25.9 million Swedish krona in 2025, an increase from 20.8 million Swedish krona in 2024. The subsidiary's operating profit amounted to -0.2 million Swedish krona, compared to 1.6 million Swedish krona the previous year.
In connection with the acquisition, the subsidiary's previous owner-managed management structure was replaced by a new CEO, while Ninepine's organization took over several operational functions to support the company's growth. After the end of the financial year, in 2026, Ninepine AB has formally become owned by the new parent company Ninepine Holding AB.