Marimekko's Q2 sales increase by 16 percent

Second quarter net sales at Marimekko grew by 16 percent to 38 million euros boosted in particular by increased retail sales in Finland and internationally.

The company said that net sales in Finland rose by 25 percent; while international sales were up by 5 percent.

However, the company added that the rate of growth of international sales was negatively impacted by a different kind of weighting of wholesale deliveries compared to the previous year. For the full year 2022, Marimekko expects international net sales to grow clearly.

Comparable operating profit grew by 17 percent to 5.7 million euros and was 15 percent of net sales.

“The positive development of our business from one quarter to the next speaks to the effectiveness of our growth strategy. We will continue to determinedly accelerate our long-term international growth while simultaneously working on the company’s direction for the next strategy period,” said Tiina Alahuhta-Kasko, president and CEO of Marimekko.

Marimekko’s H1 net sales up 20 percent

The company’s net sales grew by 20 percent to 74 million euros in the first half period. Net sales in Finland grew by 26 percent; while international sales were up by 13 percent.

The company further said that net sales were boosted especially by a favourable trend in retail and wholesale sales in Finland and by growing international sales.

Comparable operating profit improved by 17 percent and amounted to 12.3 million euros.

Marimekko forecasts full year sales and profit growth

The Marimekko Group's net sales for 2022 are expected to grow from the previous year’s figure of 152.2 million euros.

Comparable operating profit margin is estimated to be approximately some 17–20 percent compared to 20.5 percent in 2021.

Two new Marimekko stores were opened in Mainland China in May, and one in Hong Kong in June. In Thailand, a Marimekko pop-up café was opened in June in conjunction with one of the stores in Bangkok.

After the review period, in August, The company announced Marimekko Pre-loved, a marketplace for buying and selling second-hand and vintage products.