Marimekko’s net sales up amid growth in Asia Pacific

Marimekko Group‘s net sales increased 7 per cent to €37.7 million (US$41.0 million) in the first quarter, thanks to the growth of wholesale sales in Finland and higher international sales.

The textiles, clothing, and home furnishings company saw its Finland sales rise by 8 per cent while international sales increased by 6 per cent.

The company noted that wholesale sales showed positive results in Asia Pacific and North America and its licensing income grew considerably.

During the quarter, Marimekko launched a new digital channel in China and opened online stores in Vietnam and Malaysia.

The company also opened two stores in Japan, specifically in Koshigaya and Sendai. Moreover, Marimekko set up two pop-up stores in Australia.

These initiatives have pushed its Asia Pacific net sales to rise 22 per cent during the period.

Marimekko noted that historically, Finland represents about half of the company’s net sales. However, the weak general economy and low consumer confidence have impacted sales in the country in the first quarter.

For the full year, the company anticipates net sales to increase, with Japan as the most significant market. Licensing income is forecast to be at the same level as the previous year.

The company aims to open about 10 to 15 Marimekko stores and shop-in-shops throughout the year, with most of them in Asia.

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