Stockholm-based Macade Sportswear AB, better known under the brand Macade Golf and with a primary focus on its own e-commerce platform, has submitted its annual and consolidated financial statements for the fiscal year 2025. As the company is now classified as a larger K3 entity, this marks the first time a consolidated group financial statement is presented, which also includes the American subsidiary Macade Golf Inc.
The company has been one of the fastest-growing players in Swedish sports fashion in recent years and has previously been named one of the country's leading e-commerce rockets. Ehandel.se has repeatedly reported on the company's journey, from early aiming for 100 million Swedish krona to increasing by 50 percent and exceeding 85 million Swedish krona in 2023. In 2025, growth continued at a high pace, and the group's net sales amounted to 163 million Swedish krona, up from 132.1 million Swedish krona the previous year.
In the management report, the company summarizes the year by stating that growth occurred in parallel with extensive structural investments.
In 2025, the group continued to grow strongly and increased sales by 23 percent compared to the previous year, while laying the foundation for continued scalable growth through significant investments in its own logistics, new production base and expanded organization.
Leaving TPL for In-House Operations in the USA
The major investments during the year are reflected on the bottom line. The group's operating profit (EBIT) amounted to -10.8 million Swedish krona, compared to -6.2 million Swedish krona the previous year. At the same time, the workforce grew from 14 to 24 employees, and the company opened its first physical flagship store in connection with the new headquarters in Stockholm.
One of the most significant changes during the fiscal year was implemented in the main market in the USA, where Macade Golf chose to bring logistics in-house.
During the year, the company carried out a strategically important restructuring of its US operations by terminating cooperation with previous third-party logistics partners and establishing its own warehousing and logistics organization. The change strengthens the company's control over the entire customer journey, improves opportunities to optimize costs and processes, and creates a more scalable platform for continued expansion in the US market.
Counteracting Tariffs with New Production
In addition to the new logistics structure in the USA, Macade Golf has been actively working with its supply chain. The background is the changed trade policy situation that affected the company's purchasing markets during 2025, the company writes in the report.
Tariffs imposed by the USA, primarily on China, during the first half of 2025 are still fully or partially in effect. The company continues to monitor developments closely and is actively working with several different strategies and scenarios, one of which was initiated in 2025 – starting production of goods in Vietnam.
Work to broaden the production base and strengthen the international presence has continued into the new year. In addition to the rollout of deliveries from the new production base, the group has also established itself locally in another important key market in Europe.
The started production in Vietnam has functioned as planned and the first production orders placed in 2025 have been delivered according to plan in 2026. During the first half of 2026, the company started a subsidiary in the United Kingdom with the aim of improving operational flows and financial profitability in the British market.