Business profit of Nice One increases by 10% in Quarter 1 of 2025, sales skyrocket 30% to reach $87 million following a Ramadan surge.
In a significant move for the Saudi market, beauty e-commerce platform Nice One made its Initial Public Offering (IPO) in early 2025, targeting a valuation of $1 billion. The IPO was met with high investor interest, reflecting the growing appeal of the beauty e-commerce sector in Saudi Arabia [1].
The Saudi capital market regulator cleared multiple IPOs in the beginning of 2025, creating a favourable market environment that supported Nice One’s listing. By mid-2025, the IPO market had raised a total of $2.8 billion, indicating robust market conditions [2][4].
Nice One is recognised as a trusted beauty platform, contributing to Saudi Arabia’s leadership in online fashion and beauty products within the Gulf Cooperation Council (GCC) region [3]. The company's Q1 2025 financial results demonstrate this position, with a 30% year-on-year increase in revenue, reaching $86.7 million (SAR 324.97 million) [5].
The surge in customer orders and the seasonal boost from Ramadan, which fell during the quarter, contributed to the revenue increase. Gross income for the first quarter of 2025 climbed 14.3% to $21.7 million (SAR 81.27 million), while operating income rose 12.7% to $7.2 million (SAR 26.91 million) [5].
Despite these positive financial results, Nice One's share price declined by 2.82% to SAR 37.9 on the Tadawul stock exchange following the earnings announcement [5]. The company's net profit for the first quarter of 2025 was partially offset by a shift in product mix, higher operating expenses due to business expansion, and increased Zakat charges [5].
However, Nice One reported a 10.2% year-on-year increase in net profit for the first quarter of 2025, reaching $6.4 million (SAR 24.1 million) [5].
While specific details on Nice One’s share price trend and financial performance post-IPO are not publicly available as of July 2025, the strong Q1 2025 financial results suggest a promising outlook for the company. Additional real-time market data or company financial reports would be required to provide a precise assessment of its post-IPO performance.
[1] Al Jazeera, "Saudi Arabia's Nice One aims for $1bn valuation in IPO", December 2024. [2] Saudi Gazette, "Saudi IPO market raises $2.8bn by mid-2025", June 2025. [3] Arab News, "Nice One named as trusted beauty platform in Saudi Arabia", May 2025. [4] Zawya, "Saudi market regulator clears multiple IPOs in early 2025", January 2025. [5] Reuters, "Nice One reports Q1 2025 financial results", April 2025.
Businesses in the Saudi market noticed a surge in investing opportunities with the growth of the beauty e-commerce sector, as evidenced by the successful Initial Public Offering (IPO) of Nice One in early 2025, which aimed for a valuation of $1 billion. Later in the year, the company reported a 30% year-on-year increase in revenue, demonstrating the trust placed in Nice One as a leading beauty platform within the Gulf Cooperation Council (GCC) region's online fashion and beauty products.
