Mavi Giyim Sanayi ve Ticaret AS
IST:MAVI.E

Watchlist Manager
Mavi Giyim Sanayi ve Ticaret AS Logo
Mavi Giyim Sanayi ve Ticaret AS
IST:MAVI.E
Watchlist
Price: 41.1 TRY -1.11% Market Closed
Market Cap: 32.7B TRY

Mavi Giyim Sanayi ve Ticaret AS
Investor Relations

Mavi Giyim Sanayi ve Ticaret AS engages in the design, manufacture, and sale of ready-to-wear denim apparel. The firm offers pants, jackets, shirts, shorts, dresses, skirts, and joggers. The firm operates more than 390 mono-brand Mavi stores with particular presence in Turkey, the United States (following the acquisition of Mavi USA), Canada (following the acquisition of Mavi Canada), Europe (centered on Germany) and Russia, more than 5,000 global points of sale, as well as an online store. The company has a retail base in Turkey with more than 200 mono-brand retail stores, more than 60 franchise-operated mono-brand retail stores and more than 400 multi-brand points of sale across the country. Its wholesale partners include Nordstrom, Bloomingdale’s and Peek & Cloppenburg.

Show more
Loading
No Stocks Selected

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare
Last Earnings Call
Fiscal Period
Q3 2026
Call Date
Dec 11, 2025
AI Summary
Q3 2026

Resilient Margins: Despite a tough macro environment in Turkey, Mavi expanded its gross margin by 130 basis points to 52% in Q3, and EBITDA margin rose 310 basis points, showing strong cost control and pricing power.

Revenue Decline: Consolidated revenue fell 7% year-over-year for the first 9 months of 2025, reaching TRY 33.58 billion, in line with expectations amid softer consumer demand and normalization policies.

Solid Cash Flow: Operating cash flow was robust at TRY 1.5 billion in Q3 and over TRY 4 billion for the first 9 months, with a 61% cash conversion ratio and a net cash position of TRY 4.3 billion.

Guidance Maintained: Full-year 2025 guidance is unchanged, expecting a low single-digit revenue decline and 18% EBITDA margin, with management expressing confidence in meeting targets.

Store Expansion Focus: Mavi plans to be more aggressive in Turkey store openings and expansions in 2026, potentially doubling this year’s count, supported by freed-up CapEx and strong balance sheet.

International Growth: The U.S. posted 7.3% sales growth in Q3 (USD terms), while international revenue overall declined. U.S. operations will remain a long-term focus with plans to reach 15 stores next year.

Online Channel Dynamics: Own-channel online sales outperformed with 13% volume growth on mavi.com, but total online sales in Turkey dropped 5% due to heavy industry promotions on marketplaces.

Sustainable Growth Recognition: Mavi was ranked second globally for sustainable growth by Time and Statista, reflecting its strong performance and leadership in the apparel sector.

Key Financials
Revenue
TRY 33.58 billion
EBITDA
TRY 6.628 billion
EBITDA Margin
19.7%
Net Income
TRY 2.067 billion
Operating Cash Flow
TRY 1.5 billion in Q3; over TRY 4 billion in 9 months
Cash Conversion Ratio
61%
Net Cash Position
TRY 4.3 billion
Gross Margin
52% in Q3; 51.6% for 9 months
Net Income Margin
6.2% (9 months)
CapEx
TRY 1.8 billion YTD
CapEx to Sales Ratio
5.5%
Number of New Customers (YTD)
1.1 million
Active Loyalty Card Members
6.1 million
Number of Stores in Turkey
354
Selling Space
193,000 square meters
Average Store Size
544 square meters
Like-for-Like Sales (Q3)
down 3.2% (real TRY)
Basket Size (Q3)
up 2.2%
Online Share of Revenue
10.4% (global online, including wholesale partners)
Turkey Online Sales
down 5% YoY (represents 8% of total sales)
mavi.com Volume Growth (Q3)
up 13%
Number of Active Kartus App Users
5 million
Other Earnings Calls

Management

Mr. Ahmet Cuneyt Yavuz
CEO & Executive Director
No Bio Available
Mr. Sait Akarlilar
Founder
No Bio Available
Ms. Bige Iscan Aksaray
Chief Financial Officer
No Bio Available
Duygu Inceoz
Senior Director of Investor Relations
No Bio Available
Ms. Fatma Elif Akarlilar
Chief Brand Director & Executive Director
No Bio Available
Mr. Okan Gursan
Chief Commercial Officer of Turkey & Export Markets
No Bio Available

Contacts

Address
Istanbul
Sultan Selim Mahallesi, Eski Buyukdere Cad. No: 53, Kagithane
Contacts
+902123712000
www.mavicompany.com