Marimekko brightens up its profits

Known for its bright fabrics and fashion, Finnish style brand Marimekko is reporting good earnings news.

Detail from Marimekko's Spring/Summer 2019 collection / Credit: @Marimekko Instagram

Finnish textile and design company Marimekko is reporting an increase in profits.

The company says net profits rose from €27 million to €28 million in April to June compared with the same months a year before.

In the same time period, operating profits rose from €3.1 million to €3.7 million.

According to the company, retail sales continued to grow in Finland during the second quarter of 2019, and international sales were up 2% during this period. However sales in North America fell year-on-year.

“The growth in Finnish retail sales seen earlier in the year continued in the second quarter, supporting the overall trend in net sales” says Marimekko President and CEO Tiina Alahuhta-Kasko in a statement.

Alahuhta-Kasko says the company will invest significantly in growth during this year, and renew the retail store network and headquarters, and invest in IT systems to strengthen Marimekko’s digital business.

“This represents the continuation of our long-term commitment to building Marimekko into an even more appealing phenomenon internationally and pursuing our primary goals of reaching a broader customer base and achieving stronger growth and profitability” she adds.