Matas boosted by luxury sales growth

Matas continues its strategy to expand across the Nordics, reporting a 44% increase in revenue to DKK 1.85 billion in Q2 of the fiscal year 2024/25, largely due to the integration of the Swedish beauty chain Kicks. Adjusting for currency fluctuations, the combined sales of Kicks and Matas increased by 6.8%. CEO Gregers Wedell-Wedellsborg notes that consumers still prioritize beauty and wellness during uncertain economic times, opting for small luxuries. Alone, Matas saw a 7.6% sales growth, with online sales up 18.7% and in-store sales up 2.4%. The total group comprises 266 Matas stores and 230 Kicks stores. High-end beauty products drove growth, with sales in this category reaching DKK 899 million, a near 10% increase. Matas Group has been introducing trending brands like Elf and Milk and plans to expedite the introduction of such trending brands in the future, especially online.