Half-year Financial Report 1-6/2025, 14 August 2025:
“The positive development of Marimekko’s omnichannel retail sales continued, and our net sales and operating profit increased in the second quarter in spite of the continued challenging market situation.
Marimekko’s net sales in the second quarter increased by two percent and amounted to EUR 44.5 million (43.7). Net sales were boosted particularly by the growth of retail sales in Finland and internationally. The positive development of retail sales in a weak and unstable economic environment reflects not only our long-term brand building efforts but also the resilience and agility of our company. As previously estimated, the development of Marimekko’s wholesale sales was affected by non-recurring promotional deliveries in Finnish wholesale sales being considerably lower than in the strong comparison period. Nevertheless, net sales in Finland increased by three percent thanks to the positive development of retail sales. International net sales increased by one percent in spite of licensing income decreasing significantly, as anticipated.
Our comparable operating profit in April–June amounted to EUR 6.5 million (6.4), representing 14.6 percent of net sales (14.6). Operating profit improved due to the growth of net sales and the improved relative sales margin. Higher fixed costs, in turn, had a negative effect on operating profit.
In January–June, our net sales increased by three percent and totaled EUR 84.1 million (81.3). Our comparable operating profit was EUR 10.9 million (11.6), representing 13.0 percent of net sales (14.2).
Marimekko’s spring was full of colorful events that surprised and delighted our community. In April, the limited-edition collaboration collection with the global footwear brand Crocs became available in stores around the world. The bright and colorful sandals and clogs as well as accessories were enthusiastically received, and many of the styles quickly sold out. Collaboration collections like this, which are widely available around the world, play a significant role in introducing new customers to Marimekko. Our collaboration with the Blue Bottle Coffee café chain brought Marimekko prints to a total of 10 cafés and related events in the United States and a number of countries in Asia, deepening our relationship with the Marimekko community and building our brand awareness in a more targeted manner in our key cities. In June, the 3 Days of Design event in Copenhagen featured a first look at the limited-edition furniture collection created in collaboration with another iconic Finnish design company, Artek. The collection will be available in stores in September.
In April, Marimekko and the New York-based artist and influencer Laila Gohar joined forces at Milan Design Week for an impressive installation that invited guests into a larger-than-life sleeping space. The event, which introduced a capsule collection curated by Laila Gohar featuring Maija Isola’s prints, gained significant visibility and was highlighted by the media as one of the key events of the week. The capsule collection will be available in stores in September. In May, we celebrated Marimekko Day, an event with a rich tradition that culminated in fashion shows in Helsinki’s Esplanade Park that drew record audiences. In addition to the fashion shows, the start of summer was celebrated in stores and events around the world. Field of Flowers, a touring exhibition that started in Japan in March, presented Marimekko’s latest prints in Kuala Lumpur and Hong Kong in the second quarter.
We are very pleased about the sustained growth of our omnichannel retail sales, as it demonstrates the significance of our consistent development efforts. Marimekko stores and the online store provide our customers with the most inspiring and immersive way to experience our lifestyle concept. We continuously develop our store network and customer experience. In total, our omnichannel retail sales increased by six percent in April–June. In the second quarter, new Marimekko stores were opened in Osaka and Kuala Lumpur, and an outlet store was opened in Espoo. In addition, eight pop-up stores served customers in selected Asian metropolises and in Finland. In April, we launched the Marimekko online store in New Zealand. In June, we introduced a German language version of our online store. The new technology platform we deployed for our online store last September not only provides an even more personalized customer experience, it also offers plenty of opportunities for automation, for example.
After the review period, we announced that we will open our first ever Marimekko flagship store in Paris in fall 2025, and that will be preceded by the launch of pop-up stores in the iconic Parisian department stores: Le Bon Marché and Galeries Lafayette. The flagship store, which represents Marimekko’s latest, continuously evolving store concept, will be a showcase for Marimekko’s art of printmaking and optimistic lifestyle philosophy, and it also serves as a meeting place for the Marimekko community. Paris is one of the most important cities on the global fashion scene. Its impact in terms of building brand awareness and positioning extends beyond Europe to Asia and North America. This means that the flagship store in Paris supports the broader scaling of the Marimekko brand phenomenon and long-term growth across different channels and international markets. Our strong financial position and the sustained positive development of our business give us an excellent opportunity to make strategic growth investments that strengthen our competitiveness in spite of the weak general market situation.”
Tiina Alahuhta-Kasko