Marimekko, the renowned Finnish design house known for its distinctive prints and lifestyle products, has reported positive third-quarter results. The company experienced a 10% increase in net sales, reaching €38 million, primarily driven by improved wholesale turnover in Finland and the EMEA region. The growth in Finnish wholesale can be partly attributed to non-recurring promotional deliveries. However, the retail segment faced challenges due to the ongoing pandemic, resulting in a slight decline. Despite this setback, Marimekko’s online sales demonstrated strong performance, and the retail sales in Finland remained stable.

It is worth noting that the company’s retail sales in the third quarter included approximately €1 million in unrecognised revenue from the second quarter due to logistic challenges brought about by the pandemic. Consequently, Marimekko’s operating profit for the quarter rose to €10.5 million from €7.8 million. The increase in earnings can be attributed to a reduction in fixed costs and the robust sales performance. The company also benefited from cost-saving measures and government subsidies aimed at mitigating the impact of the pandemic.

Looking forward, Marimekko anticipates that its net sales for the entire year will be lower compared to the previous year. The comparable operating profit is estimated to remain at the same level or potentially decrease. Despite the challenges posed by the global health crisis, the company remains optimistic about its performance. Marimekko’s President and CEO, Tiina Alahuhta-Kasko, expressed confidence in the company’s ability to adapt to the evolving market conditions.

Alahuhta-Kasko attributes Marimekko’s success during these challenging times to its strong online sales and the continued interest of consumers in home decoration. The company’s diverse range of lifestyle products and distribution channels, combined with its internationally appealing and relevant brand, have enabled it to navigate the crisis effectively. Furthermore, the pandemic has highlighted the attractiveness of Marimekko’s relaxed and comfortable ready-to-wear collection. Though footfall in retail stores has decreased, the company has managed to offset the decline in retail sales with robust online sales. Additionally, Marimekko has experienced significant growth in its wholesale business.

The company’s experience during this extraordinary crisis has prompted Marimekko to reassess its distribution channel choices for the future. Recognizing the evolving consumer behavior and preferences resulting from the pandemic, the company acknowledges the need to adapt its strategies accordingly. Marimekko remains focused on leveraging its strengths and maintaining its position as a leading lifestyle brand in the global fashion industry. Despite the uncertainties that lie ahead, the company remains committed to delivering top-notch products that resonate with its customers worldwide.

For more information about Marimekko’s third-quarter results, click [here]( (source: Marimekko official website).

To explore Marimekko’s iconic prints and lifestyle products, visit their online store [here](