Munich, March 20, 2026 – Munich-based fashion group LUDWIG BECK (ISIN DE0005199905) once again faced numerous challenges in 2025. The financial year was marked by strikes and domestic and international political uncertainties, which placed a significant strain on brick-and-mortar retail. The war in Ukraine and the resulting economic impact on businesses and consumers noticeably dampened consumer sentiment. Even the traditionally strong fourth quarter – particularly the Christmas season – fell short of expectations, not least due to fierce competition from online retailers and the massive impact of Black Friday. In addition, the entire Christmas season was overshadowed by aggressive pricing in the retail sector. Despite these difficult conditions, the company managed to increase sales slightly – as it did in the previous year.