Finland's Marimekko's Q1 sales hit $42.9 mn, eyes expansion in Asia
International sales are estimated to grow in 2025. In the strategy period 2023–2027, Marimekko focusses on Asia as the most important geographical area for international growth. In 2025, net sales in the Asia-Pacific region, group's second-largest market, are expected to increase. All brick-and-mortar Marimekko stores and most online stores in Asia are partner-owned. In 2025, the aim is to open approximately 10–15 new Marimekko stores and shop-in-shops, and most of the planned openings will be in Asia, Marimekko said in a press release.
Marimekko is expecting increased net sales and a 16â€'19 per cent operating profit margin in 2025, with strong growth projected in the Asia-Pacific region. The company plans 10â€'15 new store openings, mainly in Asia. Q1 2025 net sales rose 5 per cent to €39.6 million, driven by international growth. CEO Alahuhta-Kasko highlighted ongoing global expansion, and brand storytelling.
Meanwhile, Marimekko's net sales for the first quarter (Q1) of 2025 rose by 5 per cent year-over-year (YoY) to €39.6 million (~$42.9 million). This growth was driven primarily by increased wholesale sales in Europe and stronger retail performance in Finland (9 per cent). However, net sales in Finland declined by 3 per cent due to a lower volume of non-recurring promotional deliveries compared to the previous year, which had seen a high concentration of such deliveries and licensing income in Q1. International sales grew by 14 per cent YoY, supported by solid growth in both wholesale and retail channels.
The operating profit of the company stood at €4.3 million, with the comparable operating profit at €4.4 million, equating to 11.1 per cent of net sales. The decrease in profit was largely due to a weaker relative sales margin caused by higher discounts, lower licensing income, and increased fixed costs. Nonetheless, the rise in sales helped partially offset these impacts, added the release.
'We continue our consistent efforts to scale up the Marimekko phenomenon internationally. This year, we will focus on deepening Marimekko's story and showcasing the richness of our design language, building on the broad attention we gained last year as we celebrated the 60th anniversary of the Unikko print,' said Tiina Alahuhta-Kasko, president and chief-executive officer (CEO) of Marimekko Group. ' At Copenhagen fashion week in January, Marimekko's fashion show explored the relationship between art, architecture and fashion, delivering a combination of surprising colours and patterns that fashion lovers have learned to expect from us. In March, we opened the field of flowers exhibition in Osaka, featuring new floral prints by five designers.'
'The exhibition and the related pop-up stores will tour across Asia throughout the year, showcasing Marimekko's latest print designs—classics of the future—and provide an opportunity to reinforce our relationship with friends of our brand as well as introduce Marimekko to new customers, especially in Asia, which is the most important geographical area for our international growth,' added Alahuhta-Kasko.
Fibre2Fashion News Desk (SG)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
9 hours ago
- Time of India
HMD to foray in India's sub-₹10,000 5G smartphone segment: Ravi Kunwar
NEW DELHI: HMD said India remains a key market for the brand from a revenue contribution and manufacturing perspective, and it is working with both mainline and digital commerce platforms to sell handsets. 'For us, India remains a key focus market as a brand. To meet the specific needs of Indian consumers, we have introduced several devices tailored for this market, including HMD-branded and Nokia devices. We are also preparing to launch a new 5G smartphone priced under ₹10,000, targeting the high demand for affordable devices in India,' Ravi Kunwar, vice-president (VP) & CEO, HMD India and APAC, told ETTelecom . 'India remains our largest market by resources and financial contribution, and we are committed to expanding our operations, partnerships, and product offerings to strengthen our market position in both feature phones and smartphones,' he added. ETTelecom in its February 7, 2025, edition, reported that the sub-₹10,000 5G smartphone shipments may contribute to the overall industry's volumes despite multiple challenges, albeit in single digits. The brand is present in more than 1 lakh traditional or mainline retail stores in India, but it is now 'significantly working' with both e-commerce platforms, such as Amazon, and quick-commerce channels, including Blinkit, Kunwar said. HMD's brand e-store, according to him, is expanding and strengthening in terms of product availability and distribution channels. 'Our strategy involves working closely with distributors and retailers, offering comprehensive support and incentives, as well as engaging in robust marketing activities to optimize reach and execution, especially ahead of major sales cycles,' he said. The top executive's comments come at a time when HMD is scaling back its operations in the USA amid a 'challenging geopolitical and economic environment', the international media reported recently. HMD, in 2016, had bought the Nokia feature phone business from Microsoft and had also secured a license to sell Nokia-branded smartphones and tablets, particularly in the mid-range segment. However, HMD Global is now focused on selling smartphones under its own brand and exploring white-label manufacturing opportunities. This followed after HMD signed an agreement with Finnish Nokia in 2023 to ramp down the smartphone business, with which it had forayed into the market in 2016. READ MORE | Sub-$100 smartphone to boost affordability, experience, 5G shift: Qualcomm's Savi Soin '95% of our devices are manufactured in India. Over the past couple of years, we've also started exporting these 'Made in India' devices to other countries,' Kunwar said. 'India is not only our manufacturing hub but also the most important market for us from both a business perspective and a growth opportunity standpoint,' he added. Prachir Singh, a senior analyst with Counterpoint Research, told ETTelecom that HMD, including its Nokia-branded smartphones, has maintained a low market share in India, primarily due to a limited product lineup, weak channel engagement, and declining consumer recall. 'The brand hit a peak in Q2 2023. However, its share remained below 1%. HMD officially entered the Indian smartphone market under its own branding in Q3 2024 with the Crest and Crest Max series. However, these models struggled to gain traction amid intense competition and a crowded value segment,' Singh said. As a result, HMD presently has a marginal presence in India, with the brand 'significantly outpaced by more aggressive and better-positioned rivals', he added. Kunwar said that in the feature phone segment, the brand is currently 'number one in value and a close number two in volume', making this category a strong performer for the company in India.
News18
2 days ago
- News18
Maharashtra Signs 3 Pacts With Finland To Boost Youth Startups, Research, Training
Last Updated: Maharashtra minister Mangal Prabhat Lodha announced agreements with Finland and three partners to boost innovation, providing global exposure, training, and opportunities In a significant move toward transforming Maharashtra into a global hub for innovation and entrepreneurship, the state's skill development, employment and innovation minister Mangal Prabhat Lodha announced a series of crucial pacts with Finland and three other international partners. Signed on Monday in Mumbai, these agreements are expected to provide Maharashtra's young entrepreneurs with global exposure and opportunities. The Maharashtra State Innovation Society (MSInS), operating under the skill development department, inked the pacts with the Government of Finland, Global Access to Talent from India (GATI), Magic Billion, and Charcos Enterprises. These aim to create better avenues for placements, research, investments, and high-end training for the state's youth. Dr Eva Nilsson, ambassador of Finland to India, attended the signing ceremony along with senior officials including additional chief secretary Manisha Verma, MSInS Additional CEO Aman Mittal, vice chancellor of Ratan Tata Skill University Apoorva Palkar, and director of the Directorate of Vocational Education and Training Madhavi Sardesai. Lodha highlighted Prime Minister Narendra Modi's vision to make India a developed nation by 2047, stressing on Maharashtra's leading role. 'These agreements reflect the power of public-private partnerships (PPP) in skilling and innovation. This is not just paperwork — it's a doorway for Maharashtra's youth to gain global knowledge, skills, and the confidence to build world-class startups," Lodha said. Under the agreements, both countries will work together to create more opportunities for startups, establish advanced training centres in Maharashtra using Finnish expertise, and jointly host startup summits, job fairs, and research exchange programmes. Special emphasis will be placed on technology transfer and industrial research, ensuring that startups can expand globally. Nilsson commended Maharashtra's proactive approach and expressed confidence in the partnership. 'This collaboration will create new opportunities for startups and enable stronger knowledge exchange," the ambassador said. Verma said this is a significant milestone in Maharashtra's 'Vision 2047'. 'Our startups will now have a chance to make a mark globally and inspire other entrepreneurs to dream big," the official said. Before the agreements were signed, a special workshop on 'Viksit Maharashtra Vision 2047' was conducted to outline how such global partnerships will help transform the state's economic landscape over the next two decades. view comments First Published: July 22, 2025, 03:27 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Fibre2Fashion
2 days ago
- Fibre2Fashion
Finland's Lindex Group's Q2 revenue rises 0.9%, maintains outlook
Finnish retailer Lindex Group has reported a modest 0.9 per cent year-over-year (YoY) revenue increase to €253.9 million (~$297.06 million) in the second quarter (Q2) ending June 30, 2025, despite persistent market headwinds and a price-sensitive consumer landscape. However, the gross margin of the group declined to 58 per cent from 60 per cent, primarily due to increased promotional activity in a price-sensitive market environment. The adjusted operating result declined to €22.2 million, as the Lindex division's margin weakened. Nonetheless, the overall operating result increased to €25.5 million and net profit improved to €13.1 million from €7 million. The digital revenue share increased to 18.7 per cent, compared to 17.2 per cent in the prior-year quarter. Lindex Group has reported a 0.9 per cent Q2 revenue rise to €253.9 million (~$297.06 million), despite market headwinds. The gross margin dropped to 58 per cent, and adjusted operating result declined, though net profit rose to €13.1 million (~$15.33 million). H1 revenue fell 1 per cent. The group is set to exit restructuring in Q3 and reaffirmed its 2025 outlook citing improving consumer confidence. In Q2, the Lindex division posted a 1.5 per cent revenue increase to €172.3 million, while Stockmann's revenue remained stable at €81.7 million. However, Stockmann's adjusted operating result improved to €0.2 million, reflecting effective cost controls. The group's operating result increased to €25.5 million from €20.3 million, and net profit rose to €13.1 million from €7 million. Basic and diluted earnings per share improved to €0.08 from €0.04. Meanwhile, in the first half (H1) of 2025, the group reported a revenue of €439.9 million (~$514.68 million), down 1 per cent YoY and 1.2 per cent in local currencies. 'In the second quarter, Lindex Group succeeded to grow in a difficult market as both divisions over-performed the overall fashion market development in our biggest home markets,' said Susanne Ehnbage, chief executive officer (CEO) at Lindex Group. 'I am pleased with the digital revenue growth of both divisions as it strengthens Lindex's and Stockmann's strategic omnichannel approach. The Lindex division's digital revenue increased by a double-digit percentage and the share of Stockmann's digital sales of the total revenue continued to grow as well. The amount of active loyal customers increased in both divisions.' In H1, the Lindex division's revenue declined slightly to €298.6 million, while the Stockmann division's revenue fell to €141.5 million. The gross margin eased to 57.8 per cent from 58.4 per cent. The adjusted operating result dropped to €13.5 million from €23 million, with Lindex's result decreasing to €22.5 million and Stockmann's improving to -€7.1 million from -€10 million. Despite the lower adjusted figures, the group's overall operating result rose to €15.9 million from €12.7 million. The net result stood at -€7.1 million, compared to -€8.4 million in the same period last year, while basic and diluted earnings per share were -€0.04, an improvement from -€0.05. The group is in the final stages of concluding its corporate restructuring programme, with completion expected in the third quarter (Q3) of 2025. The Helsinki District Court has approved an amendment to the restructuring plan. Strategic options for the Stockmann department store business—ranging from increased independence to potential ownership changes—are under continued evaluation, with outcomes expected later in the year, Lindex Group said in a press release. It also reaffirmed its sustainability goals, targeting a 42 per cent reduction in greenhouse gas emissions by 2030, validated by the Science Based Targets initiative. Lindex Group maintained its full-year guidance, forecasting a revenue rise of 0–4 per cent in local currencies and an adjusted operating result between €70–90 million (~$81.90-105.30 million). It anticipates a continued market volatility in 2025 due to geopolitical uncertainty and global trade risks. While lower interest rates and easing inflation offer some relief, GDP growth remains moderate. Improving consumer confidence and rising household purchasing power may support stronger demand later in the year, though market conditions and supply chain disruptions may still vary by region. 'The start of the year was challenging; however, we see a gradual improvement in consumer confidence and maintain our full-year guidance. It is an important milestone for us that the group is finally about to complete the corporate restructuring programme,' added Ehnbage. Fibre2Fashion News Desk (SG)
