Finnish firm Marimekko's Q2 sales rise as shoppers return to stores

Marimekko, a Finnish lifestyle design company, posted 40 per cent sales rise to €32.7 million in second quarter (Q2) of FY21 ended on June 30, 2021, driven by favourable trend in retail and wholesale sales in Finland as well as increased wholesale sales in Asia-Pacific region and Scandinavia. Operating profit grew to €5.5 million (Q2 FY20: €2.7 million).

 

“Nearly all Marimekko’s own stores were open (during Q2) and footfall increased significantly compared to the previous year, when the situation was highly exceptional and Marimekko’s own stores – and many partner-owned stores – were temporarily closed for part of the quarter due to the coronavirus pandemic,” Tiina Alahuhta-Kasko, president and CEO at Marimekko, said in a press release.

 

The company said its EBITDA for the three-month period was €8.5 million (€5.8 million), while net earnings increased to €4.1 million (€2.2 million). Finland sales in Q2 FY21 escalated 61 per cent, and international sales were up 20 per cent.

 

In its outlook for the fiscal, Marimekko estimates that both wholesale and retail sales will increase in 2021. The growth is expected to be particularly strong in wholesale sales, which also include sales to partners operating Marimekko stores.

 

Further, the Finnish firm plans to accelerate its long-term international growth in 2021 and to invest especially in digital business, seamless omnichannel customer experience, sustainability and brand awareness.