Mavi Delivers Strong Financial Performance in the First Nine Months
Mavi announced consolidated revenues of TL 33.58 billion and net profit of TL 2.07 billion in its financial results for the period from February 1 to October 31, 2025. The company maintained a strong balance sheet with an EBITDA margin of 19.7% and a net cash position of TL 4.25 billion.
Türkiye’s leading denim and ready-to-wear brand Mavi announced its financial results for the first nine months of the year, covering the period from February 1 to October 31, 2025, prepared in accordance with inflation accounting. Consolidated revenues decreased by 7% compared to the same period last year, totaling TL 33.58 billion. The company completed the first nine months with EBITDA of TL 6.628 billion and an EBITDA margin of 19.7%, generating a net profit of TL 2.067 billion. Continuing to generate cash from operations and preserving a solid balance sheet, Mavi reported a net cash position of TL 4.254 billion.
Increased Profit Margins in the Third Quarter
In the third quarter, which includes the back-to-school season, Mavi generated revenues of TL 12.156 billion, up 18% compared to the previous quarter. Despite high discount levels and intense competition in the ready-to-wear sector, the company achieved a 130-basis-point increase in gross profit margin compared to the same period last year, thanks to strong brand management, customer-focused communication, and dynamic product planning and pricing strategies. By efficiently managing operating expenses, Mavi also recorded a 310-basis-point improvement in EBITDA margin in the third quarter.
Today, Mavi meets customers in 33 countries worldwide through 488 stores and approximately 4,000 sales points. Continuing its investments in retail, digital and omnichannel capabilities, the company reached 193,000 square meters of retail space in Türkiye with two net new store openings and nine store expansions. In the U.S., four new stores were opened in line with retail growth plans.
1.1 Million New Customers Gained in Nine Months
During the first three quarters of the year, Mavi acquired 1.1 million new customers. The company’s active customer base over the past year reached 6.1 million, while the number of Mavi App users increased to 5 million. Mavi maintained its leadership in the Turkish denim market and preserved its position among the top three players in the overall ready-to-wear market. With continued investments in denim innovation and fit variety, Mavi remained the first brand that comes to mind when thinking of jeans for 70% of customers.
“We Are Maintaining Our Strong Financial Structure with a Net Cash Position of TL 4.254 Billion”
Commenting on Mavi’s performance in the first nine months of 2025, Mavi CEO Cüneyt Yavuz stated:
“During a reporting period marked by ongoing macroeconomic uncertainties and measures to combat inflation, we continued to generate cash and net profit from our operations while preserving our strong balance sheet, thanks to disciplined inventory and working capital management, our successful pricing strategy, and disciplined cost control. With our ‘right product, right price, premium quality’ strategy, we remain resilient in the face of rapid change. We manage uncertainties by focusing on the areas we can control.
Entering the new year with no debt in Türkiye and a net cash position of TL 4.254 billion gives us confidence. Alongside our long-standing leadership in the Turkish denim market, we continue to be the first destination for casual wear by maintaining our top-three position in total ready-to-wear.”
“Selected as the World’s Second-Best Company in Sustainable Growth by TIME”
“While preserving our strong financial structure, we focus on sustainable and profitable growth. In the Sustainable Growth research conducted by TIME Magazine and Statista, we climbed six places compared to last year and were selected as the world’s second-best company, once again becoming the global leader in the ready-to-wear sector. We are very happy and proud that the pioneering role we have assumed in our industry has taken us beyond Türkiye’s borders to a position of global leadership. On our journey supported by innovation, creativity, digitalization and a customer-centric approach, we will continue our commitment to reducing our environmental impact while maintaining strong financial performance.”
