During the 2025/2026 financial year, the beauty company reports that it has become apparent that customers are shopping differently. An uncertain economic situation is slowing down purchasing power in the Nordics. Particularly on the Swedish market, consumers are looking for cheaper goods. This has become a challenge for Kicks, whose range largely consists of more expensive premium products.
The company has chosen not to disclose any specific figures for either turnover or operating profit for this latest period in its communication, but reports that it lands on unchanged turnover for the full year. For comparison, turnover was SEK 4.3 billion during the previous year.
Sales did however decline initially at the end of 2025, but the trend was balanced out later in the financial year.
The market has changed rapidly – especially in Sweden. Customers have become more price-conscious, have a greater focus on discounts and competition has intensified. This requires us to act faster and become even more relevant to customers in their everyday lives, says Carola Lundell, CEO of Kicks.
E-commerce And Own Brands Are Growing
To adapt the ongoing business to the new market, the beauty chain is now changing its range and investing digitally, among other things it has launched an app in all Nordic countries.
E-commerce increased by 8.4 percent during the full year, when subsidiary Skincity is excluded. Although the third quarter was sluggish, online sales turned to double-digit percentage growth during the fourth quarter.
At the same time, the company is investing heavily in own brands, whose sales increased by 15.7 percent during the year. But Kicks has also brought in more external brands to broaden its range. The goal going forward is to drive more traffic by expanding the product shelf, without losing ground in the more expensive segments.
Our strategy remains firm and it is about giving customers more reasons to visit Kicks more often. We do this through a wider offer, more attractive price points and more relevant and unique products – while maintaining our strong position within High-End Beauty. This creates conditions for more stable and profitable growth going forward, says Carola Lundell.
The Group Is Shrinking
In addition to e-commerce, Kicks is rebuilding its organization from the ground up. The board of directors is now led by chairman Per Johannesen Madsen, who resides abroad.
Kicks has been actively working on merging its various subsidiaries during the past year. At the end of March 2026, the mergers were formally completed where Matas Sweden and Skincity Sweden merged into the parent company. E-commerce Skincity has thus been shut down as a separate entity to instead continue under the Kicks brand.
Already the year before, in March 2025, the companies Axbeautyhouse and Myself & Friends were integrated into the company.
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Externally, the chain is expanding its presence and today has 237 stores in Sweden, Norway and Finland. A new flagship store has opened on Drottninggatan in Stockholm. The next step will be taken in October, when the store in Westfield Mall of Scandinavia is expanded and doubles its area to 500 square meters. The company is also opening new stores of 300 square meters in both Malmö and Helsinki, and expanding at Aker Brygge in Norway.