Under 2025, the company's turnover fell to SEK 16.4 million. This represents a decrease of 11.6 percent from the previous year's SEK 18.5 million. At the same time, operating profit fell to SEK -7.5 million, a deterioration of over 250 percent compared to the previous year when the corresponding figure was SEK -2.1 million.
The result after financial items landed at SEK -7.9 million, compared to SEK -2.7 million the previous year.
Investments and Inventory Write-Downs
During the year, the company continued to invest in developing the business, with a focus on marketing, organization, and internal systems. However, it is not only forward-looking investments that have weighed on the figures in the accounts.
This year's result was affected by these investments as well as a significant write-down of inventory value, the company writes in its report.
To replenish the cash reserves and finance the business, the company carried out a new share issue in the autumn of 2025. The registration was completed in October and added SEK 8.7 million in new capital to the company.
Despite the capital injection, the negative result has created a hole in the company's equity, but the board of directors chooses not to take action with a solvency review as they believe there is a hidden value at the inventory level.
The balance sheet shows that equity is below half of the share capital. However, considering the continued overvalue of the lace panty inventory, the equity remains intact. Therefore, no solvency review has been prepared, the company writes.
New Management to Turn the Trend
After the end of the financial year, the e-commerce retailer implemented operational and organizational changes to achieve profitability.
At the top, a change occurred when founder Faye De Geer left the CEO position. However, she continues to be involved in the brand and showcases the company's work on her channels.
Moa Turander is the new CEO of the company. She has a background as a management consultant in growth, e-commerce, and sustainability. Moa is not new to the company, having previously worked as a consultant for Lace Laboratory on projects related to customer data and growth strategies.
In addition, she has experience from assignments at companies such as Skincity, Kronans Apotek, and Tele2.
Concurrently with the change in the CEO position, Henrik Källén has also taken over as Chairman of the Board. In the administration report, the board comments on the future and the measures taken after the end of the year:
After the end of the financial year, the company has implemented organizational and operational changes with a focus on increased efficiency and profitability. The board of directors assesses that these measures have strengthened the company's prerequisites for continued development and improved earnings development.