2025 WAS THE YEAR WE TOOK A CLEAR STEP FORWARD
In an industry marked by profit warnings, intense competition and structural shifts, we continued to grow, gain market share, and strengthen our position as the leading beauty destination in the Nordics. When the market gets tougher, it becomes even clearer who stands out and succeeds in delivering value to customers. And we continue to take position, every quarter.
 
GROWTH AND 350,000 NEW CUSTOMERS
During the year, we continued to grow faster than the market, reaching close to four billion SEK in revenue, and in the fourth quarter alone we welcomed over 350,000 new customers.

This demonstrates that our offering – the widest assortment, abundant inspiration, and a seamless shopping experience – continues to win the trust of an ever-growing customer base. In the Nordics, we are further strengthening our position, and in Norway, we have now surpassed one billion SEK in annual revenue.
At the same time, we clearly see that increased brand awareness in a market generates greater impact per marketing SEK invested. This creates a positive spiral where growth breeds further growth.

AUTOMATION LAYING THE FOUNDATION FOR THE FUTURE
One of the year’s most important milestones was the commissioning of our new warehouse automation. It is the largest project we have ever undertaken – an investment that gives us entirely new capabilities going forward.
With the new automation, we now have a total capacity of approximately 100,000 orders per day in combination with our existing solution. This gives us higher capacity, better flexibility, and improved product availability for customers, while laying the groundwork for more cost-efficient logistics as volumes continue to grow.
The implementation affected results during parts of the year, but the underlying business remained strong. We now have a platform that can handle significantly larger volumes without corresponding cost increases.

LYKO FAB STORE LAUNCHED
Our first Fab Store was launched during the year – a concept that shows the direction for the future of Lyko stores. Here, inspiration, community, service, and the full product range come together in a format perfectly aligned with how our customers want to experience beauty.

We also continue to develop our own brands and concepts, which are becoming an increasingly important part of our business and offering. We are particularly proud of the relaunch of our Make Up Store and the new brand Scandinavian Soap Factory.
During the year, we continued to strengthen our external assortment and our brand. We launched new global brands and continued our commitment to Lyko Lovables!

A STRONGER POSITION IN THE INDUSTRY
2025 was a year in which the beauty industry was fundamentally reshaped. Several players faced significant challenges while competition intensified, and we did not meet our own expectations. In that environment, our priorities have been clear: to capture market share, strengthen our brand, and build a more efficient and focused organization. As a result, we are entering the next phase stronger, with a more solid foundation than ever before.
We see that we are top of mind among consumers in several markets and that suppliers increasingly view Lyko as their most important partner.

With the platform we have now built – both organizationally and logistically – we are ready for the next step.
Our goal is clear: to become the obvious starting point for beauty. We will continue to grow faster than the market, gain market share, and at the same time improve profitability over time.
We have a strong brand, a passionate organization, and an infrastructure that can now truly scale. This means we enter the coming years with confidence.

A warm thank you to all employees, partners, and customers who make Lyko what it is, every day.

Rickard Lyko
Founder & CEO
Stockholm, April 2026