Finnish fashion brand Marimekko’s sales climb 23% in FY21

Finnish fashion brand Marimekko’s sales climb 23% in FY21

The net sales of Finnish fashion and textile company Marimekko grew by 23 per cent to €152.2 million (123.6) in fiscal 2021. Net sales were boosted especially by a favourable trend in wholesale and retail sales in Finland. In addition, wholesale sales in the Asia-Pacific region and Scandinavia as well as retail sales in North America grew strongly.

Operating profit improved to €31.2 million (18.8) in 2021. Comparable operating profit grew by 59 per cent to €31.2 million (19.6). Earnings were boosted especially by increased net sales but also improved relative sales margin. On the other hand, an increase in fixed costs had a weakening impact on results.

In the fourth quarter of fiscal 2021, Marimekko’s net sales grew by 29 per cent to €48.1 million (37.4). In Finland, net sales rose by 32 per cent, international net sales grew by 23 per cent, Marimekko said in a press release.

“The key factors behind our strong performance included our long-term efforts to modernise our brand and lifestyle collections, strengthening our digital business and the omni-channel customer experience as well as increasing our international brand awareness from one year to the next,” Tiina Alahuhta-Kasko, president and CEOsaid.

“The new operating practices we have adopted during the pandemic and our agility to react to the constantly changing operating environment were also important factors. I want to take this opportunity to express my heartfelt gratitude to the entire Marimekko team for their tremendous work: faced with difficult market conditions, our personnel have with great passion and perseverance solved challenges created by the pandemic while at the same time continuing our efforts to accelerate our long-term profitable growth,” Alahuhta-Kasko explained.

The Marimekko Group’s net sales for 2022 is expected to grow from the previous year. Comparable operating profit margin is estimated to be approximately some 17–20 per cent. Global supply chain disruptions and generally increased material and logistics costs in particular cause volatility to the outlook for 2022.

Fibre2Fashion News Desk (RR)

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