Iconic Finnish design firm Marimekko significantly boosted profits in 2017 over the previous year due to a successful last quarter, with Christmas sales faring better than expected. The company’s operating profit increased in the last quarter of the year by 35 percent to 2.4 million euros. During the same period in 2016, it had been 1.8 million.
According to the company, profits improved on an increase in net sales, specifically retail within Finland. In the last quarter, net sales amounted to 30 million euros.
”In our trade, Christmas sales are especially important in the last quarter. To crown the end of the year, our Christmas season was far better than anticipated,” Marimekko CEO Tiina Alahuhta-Kasko said in a financial statements bulletin.
Operating profit for the entire year increased 41 percent and net sales saw a three-percent bump -- or 102.3 million euros -- from 2016. Overall, profits in 2017 amounted to 8.6 million euros compared to 6.1 million the previous year.
New stores to open
Marimekko’s net sales and profits are estimated to be along the same lines or higher this year, during which the company plans to open 10 to 15 new retail stores.
Sales in Marimekko’s home country Finland comprise up to half of its total net revenues. The second biggest market is in the Asia-Pacific region, where Japan is a particularly big consumer of Marimekko products. Japan has a fairly large network of Marimekko stores and a few new stores are opened every year.