Esotiq & Henderson Group started 2026 with continued sales growth and further development of its omnichannel model, generating consolidated revenue of PLN 74.2 million in the first quarter, up 10.7% year on year. Online sales increased to PLN 27.9 million, up 19.6% year on year, and accounted for nearly 39% of the Group’s revenue. Gross sales margin remained high at approximately 66%.

The Group generated gross profit on sales of PLN 48.9 million, up 10.6% year on year, and EBITDA of PLN 4.2 million, down 8.4% year on year. The operating loss amounted to PLN 0.3 million, while the net loss stood at PLN 2.2 million, compared with a net loss of PLN 0.1 million in the corresponding period of 2025. The first quarter remains seasonally the weakest period for the lingerie sector. The operating result was affected by higher store operating and rental costs, persistently elevated logistics expenses — in Q1, the Group continued cooperation with its existing logistics operator while finalising the terms of future cooperation — as well as higher expenditure on performance marketing and brand ambassador partnerships.

An additional burden came from the result on financial activities, which amounted to PLN -1.7 million, compared with PLN -0.3 million a year earlier. Finance costs increased to PLN 1.7 million, up 13.4% year on year, and included debt servicing costs as well as negative foreign exchange differences resulting from the strong appreciation of the US dollar.

In the sales revenue structure, e-commerce played the leading role, generating PLN 27.9 million, or 38.9% of revenue. Franchise stores contributed PLN 19.8 million, or 27.6%, while own stores generated PLN 14.6 million, or 20.3%, with sales in the latter channel increasing by nearly 12% year on year. Revenue from other sales amounted to PLN 9.4 million.

“The first quarter of 2026 confirms solid sales momentum, particularly in the e-commerce channel, which is growing at a pace of nearly 20%. We are consistently working to improve profitability — some costs, including logistics and finance costs, are transitional in nature. We are focused on leveraging the effects of investments completed in 2025 and on consistently building brand value,” said Julka Justyna Derdzikowska, CEO of Esotiq & Henderson.

In Q1, the Group introduced two new fragrances endorsed by Julia Wieniawa and continued collection drops with the brand ambassador. Subsequent editions launched in the e-commerce channel reached sell-out status just a few hours after release. A more targeted commercial plan enabled the Group to reduce the level of price reductions, while on a like-for-like basis the Group recorded an increase in the number of items sold. A new stock relocation algorithm was also implemented, improving the efficiency of assortment availability across sales channels. At the same time, the brand finalised preparations for the SS26 season, which brought the launch of new core lingerie ranges and an expanded swimwear segment, once again supported by communication activities featuring brand ambassador Ewa Chodakowska.

The Group continued the stable development of its loyalty club. At the end of Q1 2026, the Esotiq Club community numbered approximately 1.92 million members, while the number of mobile app downloads reached nearly 970,000. The Group acquired new programme partners and developed cross-brand partnerships, including with InPost, BeBio store, the European Youth Card and Supersonic Food, while also launching recurring promotions for club members.

At the end of the first quarter of 2026, Esotiq’s brick-and-mortar retail network in Poland comprised 265 stores, including 192 franchise stores and 73 own stores, with a total area of nearly 17,000 sqm. The brand’s products were also available in Central, Eastern and Southern European markets, in the Balkans and in selected Central Asian countries.

Looking ahead to the remainder of 2026, the Group expects continued sales growth, supported in particular by the e-commerce channel, the swimwear segment and newer product lines — Sensual, Shapewear and Bloovii. The second half of the year, which includes key shopping seasons and the holiday period, traditionally remains the strongest period for the sector. The Company is also continuing the full implementation of its ERP system and artificial intelligence-based solutions — projects initiated in 2025 — which are intended to support operational efficiency and the quality of customer service. Improving profitability based on operating leverage following the completed investment cycle remains a priority.

“We enter the next quarters of 2026 with a strong product offering and a normalised level of expenditure following an intensive 2025. The very positive reception of the collections created with our brand ambassadors confirms that we are meeting the expectations of modern women and effectively reaching new customer groups. Our clear objective remains further sales growth and improved profitability,” said Julka Justyna Derdzikowska.

Esotiq & Henderson S.A. is a company with more than 25 years of experience, specialising in the design and sale of women’s and men’s lingerie and underwear.