Nelly Group

What Nelly Group does

Nelly Group AB (publ) is a publicly listed Nordic fashion e-commerce company headquartered in Borås, Sweden, operating two direct-to-consumer platforms — Nelly.com for young women (launched 2004) and NLYMan.com for young men (launched 2014) — supplemented by physical Flagship Stores in Stockholm (opened 2023) and Copenhagen (opened 2025). The company sells a mix of own brands and curated international brands across fashion, beauty, and lifestyle categories, with own brands contributing 57.5% of 2025 sales.

The business is built on a digital-first platform anchored by an automated high-capacity warehouse in Borås that reduces logistics costs and supports fast delivery across Sweden, Norway, Denmark, and Finland. Technology is not described as differentiated; the platform combines standard e-commerce, integrated digital marketing, and influencer-led content distribution, with a 1.7 million social media follower base used for daily trend and look inspiration. The company runs lean, with 162 employees at end-2025 generating 1,263.6 MSEK in net revenue.

Nelly's revenue model is transactional B2C retail — every order is a discrete purchase with no subscription, SaaS, or recurring component disclosed. The customer base is highly distributed (approximately 1 million active Nordic customers) and the go-to-market is direct-to-consumer with no third-party marketplace dependence. Marketing is built around influencer partnerships (a category Nelly pioneered in 2004), organic social media, and digital content, supported by physical flagship stores that deepen brand experience rather than drive material revenue. The transformation from a loss-making Qliro Group subsidiary to a 13.2% operating margin business is a defining feature of the recent operating history.

Name

Nelly Group

Legal name

Nelly Group AB (publ)

Website

https://nellygroup.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Nelly Group AB (publ) is a publicly listed Nordic fashion e-commerce company operating Nelly.com (women) and NLYMan.com (men), plus flagship stores in Stockholm and Copenhagen, serving approximately one million active customers across Sweden, Norway, Denmark, and Finland with a mix of own and curated international brands.

Ownership category

akta.pro rank

Product category

Online Fashion Retail

NAICS

Clothing and Clothing Accessories Retailers (45811), Clothing, Clothing Accessories, Shoe, and Jewelry Retailers (458)

SIC

Retail-Women's Clothing Stores (5621), Retail-Apparel & Accessory Stores (5600)

akta.pro primary industry

Women’s Apparel Retail (CRAAABAB)

akta.pro secondary industry

Fast Fashion & Trend-led Apparel Retail (CRAAABAH)

Keywords

• Fashion e-commerce
• Direct-to-consumer retail
• Own-brand fashion
• Nordic online retail
• Influencer marketing

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Supply Chain, Marketing or Sales, Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Fashion E-commerce Sales: Direct-to-consumer online retail of fashion and beauty products. Revenue generated through transaction-based sales of own brands and curated international brands to consumers. Own brands represented 57.5% of sales in 2025.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Nelly Group sells fashion and beauty products directly to Nordic consumers through its owned e-commerce platforms Nelly.com (targeting young women) and NLYMan.com (targeting young men), supplemented by physical Flagship Stores in Stockholm and Copenhagen. The assortment combines own brands (57.5% of sales) with curated international brands, supported by an automated high-capacity warehouse in Borås.

Product overview

Nelly Group operates a multi-channel fashion retail platform consisting of two primary e-commerce brands: Nelly.com for women's fashion and beauty, and NLYMan.com for men's fashion. The company combines its own trend-aware private label brands with carefully selected international brand portfolios. Physical retail presence is provided through Flagship Stores in Stockholm (opened 2023) and Copenhagen (opened 2025), complementing the digital-first direct-to-consumer strategy.

Differentiator

Problem solved

Functional benefit

Products and services

• Nelly.com E-commerce platform offering fashion and beauty products to young women in the Nordic region, featuring both own brands and selected international brands.
• NLYMan.com E-commerce fashion destination for young men offering clothing, shoes, and accessories from popular brands.
• Nelly Flagship Stores Physical retail stores in Stockholm (opened 2023) and Copenhagen (opened 2025) that complement the digital e-commerce platform, enabling customers to experience the brand in person.

Quantifiable outcome

• Return rate reduced from 35.8% (2023) to 25.6% (2025)
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• SEB (Analyst Coverage)minorOthersSEB provides equity research analyst coverage of Nelly Group. Contact: Nicklas Fhärm, Phone: 08-522 295 00.

Scale indicators11 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• About You: About You is a Hamburg-based online fashion retailer (now majority-owned by Zalando) serving young European consumers with a curated assortment of own and partner brands. Overlaps with Nelly on customer demographic, online channel, and marketplace-plus-own-brand model.
• Zalando: Zalando is Europe's largest online fashion platform, selling own and third-party brands across multiple countries including the Nordics. It directly overlaps with Nelly's e-commerce model, target customer, and curated marketplace-plus-own-brand strategy.
• NA-KD: NA-KD is a Swedish-founded online fashion retailer targeting young women across Europe with trend-led own-brand and third-party assortment. Overlaps directly with Nelly's core demographic, channel mix, and trend-driven merchandising model.
• ASOS: ASOS is a UK-based pure-play online fashion retailer serving young adults with a heavy mix of own brands and third-party labels. Comparable to Nelly on channel (online-only), customer (young fashion), and assortment (own + curated international brands).
• Boozt: Boozt AB is a Nordic online department store for fashion, beauty, kids, and home, listed on Nasdaq Stockholm. It is the closest direct Nordic e-commerce peer to Nelly, serving the same consumers with a comparable mix of own and third-party brands.

Emerging players

• Net-a-Porter: Net-a-Porter is a global online luxury fashion retailer operated by Richemont. Comparable to Nelly as a curated online fashion platform with multiple brands and editorial-led content, though positioned at a much higher price point and demographic.
• Lyko: Lyko is a Nordic online beauty and hair-care retailer, listed on Nasdaq Stockholm. Comparable to Nelly as a Nordic e-commerce specialist with similar direct-to-consumer positioning, beauty category exposure, and logistics-from-Sweden footprint.

Regional players

• RevolutionRace: RevolutionRace is a Swedish-founded outdoor and active-lifestyle apparel brand selling predominantly direct-to-consumer online, including into the Nordics. Comparable to Nelly as a Nordic-rooted, digitally native, own-brand-led retailer, though focused on outdoor rather than fashion.
• Kappahl: Kappahl is a Swedish value fashion retailer with stores and e-commerce across the Nordics. Comparable to Nelly as a fellow Nordic apparel retailer with own-brand focus, though Kappahl leans more on physical stores and family-oriented assortments.

Broad incumbents

• H&M (Hennes & Mauritz): H&M is the dominant Nordic-headquartered fast-fashion retailer with a large global e-commerce platform and strong own-brand portfolio. It competes with Nelly for the same young fashion consumer, but across a much broader assortment and geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nelly Group