Marimekko announced yesterday it has upgraded its guidance for the rest of the year after recording an increase of 24 per cent in revenue, to 28.2 million euros, and one of 443 per cent in comparable operating profit, to 3.1 million euros, between April and June.
The Finnish fashion house said it expects its full-year revenue to grow from the previous year and comparable operating profit to at least stay at level of the previous year.
The increase in second-quarter revenue was attributable especially to healthy growth in retail (11%) and wholesale sales (27%) in Finland, and an up-tick of 32 per cent in wholesale sales in the Asia-Pacific.
Finland continues to account for roughly a half of the net sales of Marimekko.
“I think we can be quite pleased with the positive trend in our net sales, which was also partly strengthened by timing-related factors,” comments Tiina Alahuhta-Kasko, the chief executive of Marimekko.
“Part of the growth was due to the fact that deliveries for the third quarter were transferred to the preceding quarter,” she adds.
Marimekko also recorded a non-recurring gain of six million euros for the sale of its head office in Herttoniemi, Helsinki. Alahuhta-Kasko says the sale solidified the financial position of the company and that the options for using the sales proceeds will be explored by the board of directors in the autumn.
She also viewed that the first half of the year demonstrated that the company has developed its collections and brand in the right direction.
“This encourages us to continue the long-term work by which we seek clearly stronger growth than before. Our core objective is for our products to appeal to a wider customer base,” she said.
Marimekko, she added, will also seek to step up investments in its branding and marketing efforts in China, where it set up a subsidiary in July.
Aleksi Teivainen – HT
Photo: Onni Ojala – Lehtikuva