Interim Report Q3/2026, 4 November 2026:
“Marimekko’s net sales grew and operating profit improved in the third quarter, as a result of the excellent development of international sales. The continued challenging market situation affected sales in Finland.
Marimekko’s net sales for the third quarter increased by three percent and amounted to EUR 52.1 million (50.8). The development of both our wholesale as well as retail sales was excellent in all of our international market areas, and our total international sales grew by 16 percent. The operating environment in Finland remained challenging and, in the price-sensitive market conditions, domestic net sales decreased by nine percent as wholesale sales, in particular, decreased year-on-year.
Our results in July–September were boosted by net sales growth and our improved relative sales margin. Our comparable operating profit increased by three percent to EUR 13.0 million (12.7), representing 25.0 percent of net sales (24.9).
In January–September, our net sales increased by two percent to EUR 137.5 million (134.8), as both retail and wholesale sales increased across all of our international market areas. Our comparable operating profit came to EUR 23.4 million (23.5), representing 17.0 percent of net sales (17.5). As is typical for our industry, the fourth quarter is important for Marimekko in terms of sales. The operating environment is highly volatile, and the development of consumer confidence and consumer purchasing behavior, especially in our domestic market, naturally has an impact on our business. Thus, we now expect our net sales in Finland to decrease in 2026, while we estimate our international net sales to grow on the comparable year. Our financial guidance for 2026 remains unchanged: the Marimekko Group’s 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.
The excellent development of international net sales in a globally challenging general market situation is a testament to the strong appeal of our brand and the results of our systematic brand-building work in the highly competitive fashion and design market. In the third quarter, we continued our consistent efforts to expand the global Marimekko phenomenon and scale our profitable growth. In July, an exhibition showcasing extensively Marimekko’s design philosophy was opened in Kyoto. The exhibition will tour Japanese museums for the next two years. Marimekko’s Art of Flowers tour, which features floral designs, also made its way around key cities in Asia. At the beginning of August, we launched our Spring/Summer 2027 collection with an impressive show at Copenhagen Fashion Week gathering an audience of several hundred influencers, journalists and buyers from around the world. In Helsinki, new prints created for Marimekko by the Danish textile designer Vibeke Rohland were showcased to industry professionals and the broader Marimekko community: The prints were featured in the interior decor of the Futuro House seen at Helsinki Design Week and as part of a limited-edition capsule collection created by the fashion designer Rolf Ekroth. In addition to brand events that generate interest, brand ambassadors play a significant role in building awareness, especially in Asia, which is an important market for Marimekko. In July, Thai actor and TV host Toey Jarinporn became Marimekko’s first-ever brand ambassador.
Our store network was expanded further in the third quarter with the opening of four new Marimekko stores or shop-in-shops, along with 11 smaller shop-in-shops or pop-up stores, across Asia. A large part of these larger and smaller openings was in the Philippines and Indonesia, which are new markets for Marimekko. In Indonesia, the grand opening of the new shop-in-shops was celebrated in style in September with a fashion show, among others. In addition, a Marimekko pop-up store delighted customers in the iconic Galeries Lafayette department store in Paris.
After the summer, uncertainties in the global economy have escalated further, and consumer confidence in Finland, for example, has sunken again after temporarily improving. Although the Finnish economy has grown, driven by exports and investments, it is not yet widely reflected in the daily life of consumers, which is influenced by factors such as growing fear of unemployment, increased fuel prices, expectations for resurgent inflation and higher interest rates. Surveys indicate that women, in particular, have reduced their spending on specialty retail purchases over the past year. This has also been reflected in Marimekko’s sales in Finland, where the significance of price in purchasing decisions has been emphasized further. With this domestic market economic climate in mind, we are continuously developing our collections so that our lifestyle assortment covers an even wider range of price points – without compromising on quality – and thereby serves customers even better than before in a more price-sensitive operating environment. Naturally, we hope that the strengthened economic growth in Finland will gradually begin to be reflected favorably in consumer buying behavior also in the premium segment in which we operate.
I want to thank our customers in both Finland and the international markets for their trust in the Marimekko brand. The trust we build every day through our products, actions and choices is also reflected in Marimekko being ranked among Finland’s ten most reputable companies for the ninth consecutive time in the Trust & Reputation survey conducted by Reputation and Trust Analytics. I want to express my gratitude to all of our employees and partners around the world for their determined work to grow the Marimekko phenomenon.”
Tiina Alahuhta