Interim Report Q2/2026, 13 August 2026:
“Marimekko’s net sales were nearly at the previous year’s record level, with international sales continuing growth in the second quarter, driven by the Asia-Pacific region. The challenging market situation affected retail sales in Finland.
Marimekko’s net sales for the second quarter amounted to EUR 43.9 million (44.5). In Finland, the operating environment remained very price-sensitive and tactical, and Marimekko’s domestic retail sales declined year-on-year against the strong comparison period due to certain sales campaigns performing weaker than expected. For example, one of our main campaigns of the year, our summer launch which includes the Esplanade Park fashion shows in Helsinki, was impacted by the rainy weather. At the same time, wholesale sales continued to grow, partly supported by non-recurring promotional deliveries, and net sales in Finland decreased by seven percent. In our international market areas, the development of retail sales, in particular, was excellent, and our total international net sales grew by seven percent in the second quarter. Geographically, our growth was strongest in the Asia-Pacific region.
Our comparable operating profit in April–June amounted to EUR 5.1 million (6.5), representing 11.7 percent of net sales (14.6). Operating profit was weakened by an increase in fixed costs in particular. The decrease in net sales also affected operating profit. Our improved relative sales margin, in turn, had a positive impact on the development of operating profit. Cash flow from operating activities increased in the second quarter, and our financial position remained strong.
In January–June, our net sales increased by two percent, driven by the growth of international sales, and amounted to EUR 85.3 million (84.1). Our comparable operating profit came to EUR 10.4 million (10.9), representing 12.2 percent of net sales (13.0). Our financial guidance for 2026 remains unchanged: net sales for 2026 are expected to grow from the previous year, and the comparable operating profit margin is estimated to be approximately some 16–19 percent.
Marimekko’s spring was colored by flowers and iconic prints. The floral patterns featured at the Osteria Fiori di Marimekko event during Milan Design Week in April were also in the spotlight in the Marimekko Day activities in Helsinki and Tokyo. In addition, we showcased our latest collections and art of printmaking to our community at events held in Paris, New York and Bangkok, for example. We also delighted our customer community in Helsinki with our second Marimekko & Friends concert of the spring, featuring the chart-topping Finnish artist Ares performing on the roof of our Aleksinkulma store. In Taipei, our collaboration with Kimpton Da An Hotel offered guests an immersive Marimekko experience. Creative events and experiences that build the Marimekko universe and cultural relevance are an important part of our continuous brand work and strengthen customer relationships.
In the second quarter, three collaboration collections were launched in stores, supporting the growth of Marimekko’s brand awareness around the world. Marimekko’s floral patterns adorn not only the jewelry collection we launched together with Kalevala Jewelry but also our limited-edition capsule with the global tech and lifestyle accessory brand CASETiFY, which comprises products ranging from phone and tablet cases to smartwatch straps and cardholders. Our collaboration with the US-based rug manufacturer Ruggable, in turn, includes both flowers as well as other abstract prints characteristic of Marimekko.
In April–June, our store network expanded further when six new Marimekko stores were opened in various parts of Asia and three pop-up stores were converted into permanent stores. We now have over 100 Marimekko stores and shop-in-shops in the Asia-Pacific region. We also introduced Marimekko to two new markets: in May, our first small shop-in-shops in the Philippines opened in three department stores in Manila, and after the review period, two shop-in-shops were opened in Indonesia. The launch of Marimekko in Indonesia and the Philippines is a natural step for us to strengthen our presence in the dynamic markets of Southeast Asia.
The operating environment continued as uncertain in all market areas during the second quarter due to geopolitical and trade policy tensions, which reflects in consumer confidence in many countries. Despite the recent positive development of the Finnish export industry, consumer confidence in Finland is still at a weak level, although it improved slightly towards the end of the quarter, which in itself is promising. The long-sustained challenging general market situation requires even more creative and agile operating practices, which the use of AI and new technologies, for example, will enable for us. At Marimekko, we believe that the winning brands of the future are determined in challenging market conditions. The long-term financial goals set a few years ago are unchanged and provide us with clear longer-term direction. Given the current challenging operating environment, the company’s Board of Directors has today decided to set new, medium-term financial goals, under which the company aims to achieve annual net sales growth of 10%. The goal for the comparable operating profit margin remains 20% also in the medium term.
Marimekko’s original lifestyle brand, which resonates with a broad customer base, paired with our strong financial position provide us an excellent foundation to continue our consistent work and investments in growth – both in Finland and in international markets. I would like to thank our employees and partners for their purposeful work. We enter the autumn season with determination.”
Tiina Alahuhta-Kasko