Italian fashion retailer OVS has capped its 2025 financial year with the strongest performance in its history, crediting steady like-for-like growth and the addition of Goldenpoint for helping lift sales, margins and profit. Management also struck an upbeat tone on current trading, pointing to a positive early response to new ranges as the group heads into 2026.
For the year ended 31 January 2026, OVS said net sales reached €1.7459 billion (about $2.06 billion), a 7% increase year on year. Stripping out the seven-month contribution from Goldenpoint, underlying sales still rose 2.9%—well ahead of a reference market that expanded by only 0.3% over the same period. Revenue from directly operated stores came in at €1.4313 billion, up 8.2%, while franchising and B2B channels generated €314.7 million.
Profitability moved higher alongside sales. Adjusted gross margin increased 8.8% to €1.033 billion, with gross margin reaching 59.2%. Adjusted net profit climbed 14.8% to €89.4 million, underscoring the operating leverage created by higher volumes and a richer mix.
Brand-level earnings also improved. OVS reported EBITDA of €172.6 million, up €9.8 million year on year. Upim delivered €44.0 million in EBITDA, compared with €40.1 million in 2024. Stefanel also strengthened, with EBITDA rising by roughly €4 million. Goldenpoint added €3.9 million of EBITDA during its consolidation period, the group said.
CEO Stefano Beraldo said the OVS FY25 results validated the retailer’s strategy of pairing accessible pricing with a stronger emphasis on design and sustainability. “2025 was a year of excellent results, with growth across all the main banners and brands. This performance confirms the validity of a positioning based on quality, stylistic research, and sustainability, which have elevated the perceived value of the brands, effectively intercepting a growing demand for quality products at affordable prices,” said Stefano Beraldo, CEO of OVS.
He said OVS continued to broaden its brand architecture through new launches and line expansions, including Les Copains, new developments within the PIOMBO label and growth across Altavia, B Angel and Utopja. OVS also highlighted womenswear and beauty as key growth engines. In beauty, momentum was supported by the Shaka format, which now operates 10 stand-alone stores.
Store investment remains a major pillar as shoppers spend more time in physical retail again, Beraldo added. “Another fundamental pillar remains the constant enhancement of the stores, in a context where offline is regaining centrality in customer preferences,” he said, pointing to upgrades aimed at improving merchandising and the overall customer experience.
Goldenpoint’s integration was described as constructive, with roughly 10% sales growth during the initial consolidation period. OVS said product refreshes, store modernisation and purchasing synergies supported better margins and improved performance.
Looking ahead, OVS indicated it plans to push harder on international expansion, backed by a solid balance sheet and continued traction in womenswear. “The internationalisation strategy of OVS is accelerating, supported by a solid financial position and the success of the womenswear offering. Expansion into the most promising markets is planned for 2026,” Beraldo said.
OVS added that the new financial year has opened with “significant” growth versus the prior year, helped by strong early demand for new collections—an encouraging signal following the record OVS FY25 results and the ongoing integration of Goldenpoint.
