SPÓŁKA AKCYJNA
Modivo
Modivo Spółka Akcyjna
KRS: 0000211692NIP: 6922200609REGON: 390716905Share capital: 7.7 M PLN
Retail trade47.72.ZRetail sale of footwear and leather goods in specialised stores
STREFOWA, 6, 59-101, POLKOWICE, POLSKAActive
SPÓŁKA AKCYJNA
Modivo
Modivo Spółka Akcyjna
Frequently asked questions about Modivo - business activity, registered office, identifiers and financial data (KRS 0000211692).
Answers to questions about the company's activity, registered office, identifiers, financial data, capital and control.
A Polish fashion group from Polkowice operating in the footwear and apparel segment. Until 2026 it operated as CCC S.A. It runs a portfolio of nine banners in an omnichannel model combining full-price and off-price channels.
To reflect the group's evolution from a footwear company (CCC = "Cena Czyni Cuda" / "Price Works Wonders") into a fashion platform. The CCC brand is retained as one of the operating banners. The MODIVO name also signals a strategic priority — consolidation of the group's e-commerce under this banner.
2024 revenue: PLN 10.3 bn. 2024 EBITDA: PLN 1.64 bn. Physical stores: ~1,231 (Oct 2025). Employees: 15,704 (Jan 2025). Markets: 20 European. Retail space: ~850k m² (2030 target: ~2,350k m²).
Dariusz Miłek (founder) via ULTRO S.a.r.l. and ULTRO INVESTMENT P.S.A. — 33.29% of capital and 38.52% of votes (A1 preferred shares with 2 votes each).
Not since 2019. The March 2025 policy provides for a 25–66% payout from FY 2025/26 consolidated net profit and 50–66% in subsequent years, subject to net debt/EBITDA < 3.0.
The brand name of the group's business model: an omnichannel platform combining full-price and off-price, product/customer segmentation, and the unified MODIVOclub loyalty program.
CCC (mainstream footwear), HalfPrice (off-price), eobuwie (online + new offline), MODIVO (premium e-commerce), Worldbox (licensed sportswear), Boardriders (Roxy/DC/Quiksilver/Billabong), Warsaw Sneaker Store, SK Store, Sklep Biegacza.
A unified loyalty program spanning all banners. ~21 million customers. Improves cross-sell, boosts wallet share and reduces paid-acquisition costs.
(1) Licensed brands — 55% of sales target by 2030. (2) Space expansion — ~3× to 2.35m m². (3) E-commerce consolidated under MODIVO.
Chinese competition (Shein, Temu), CEE consumer cycle, rising occupancy and labor costs, execution of the Kaes → Worldbox conversion, FX volatility, concentration of control with the founder.
22.05.2026 — standalone/consolidated report for 2025/26; 11.06.2026 — Q1 2026/27; 01.10.2026 — half-year; Nov 2026 — Q3.
CCC: Deichmann, Wojas. HalfPrice: Pepco, TJX (benchmark). MODIVO/eobuwie: Zalando, About You. Value online: Shein, Temu. Mainstream fashion: Inditex.
MSCI ESG AA since 2023. The company has a sustainability-linked syndicated loan.
In 2025 — after a period outside the WIG20 index. Designated market maker: Erste Group Bank AG since 24.03.2025.
On modivoplatform.com/relacje-inwestorskie. Q1'26 results conference: 20.05.2026, 14:00, https://results.modivoplatform.com/.
Brands the group licenses from owners (Reebok from 2023; Roxy, DC Shoes, Quiksilver, Billabong after Boardriders) and sells under their names in its channels. They deliver higher margins, AOV and recognition.
A new sportswear format with licensed brands (mainly apparel). Built on the Kaes store chain (~150 stores in Poland; in 2024 the group acquired 10% of MKRI Sp. z o.o.). Plan: up to 1,400 stores in Poland and CEE by 2030.
Three variables explain most of the mid-term price moves. First, LFL sales and gross margin — the entire GO.25 strategy rests on licensed brands and the MODIVO PLATFORM consolidation pushing gross margin from today's 45-50% toward the upper end; every 1 pp shift materially moves EBITDA. Second, Chinese player pressure (Shein, Temu) — they compete directly with the CCC value segment and partly with HalfPrice; every report of their accelerated European expansion weighs on the multiple. Third, the HalfPrice openings pace and Kaes -> Worldbox conversion — the two biggest space-expansion engines in the 2030 strategy; market delays or below-plan openings are taken negatively. Secondary but material: EUR/PLN rate (export from HalfPrice and Worldbox), dividend policy (a return to payments would be a strong catalyst), MODIVOclub penetration and Boardriders integration outcome. An investor's first glance at MODIVO should be gross margin and the HalfPrice pace — these two variables shape most of the valuation.
SPÓŁKA AKCYJNA
Listed on the Warsaw Stock ExchangeModivo Spółka Akcyjna