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Marimekko reports losses in Q1, but sales numbers up

Finnish textile and clothing design company Marimekko said it made a loss of 1.3 million euros in its first quarter report for 2015. The company's CEO said the losses were "in line with expectations."

Tiina_Alahuhta-Kasko.
Tiina_Alahuhta-Kasko. Image: Marimekko

Marimekko said the company's net sales grew by four percent to 20.1 million euros, compared with the same time last year, and attributed the growth to the opening of new stores at the beginning of the year and a strong US dollar.

Marimekko CEO Tiina Alahuhta-Kasko said that the difficult situation in Finland’s retail sector continues, but that sales via the internet are headed in the right direction.

"Our investment in digital business continues," Alahuhta-Kasko stated in a press release. "E-commerce has grown steadily as a proportion of our overall sales, and particularly in Finland it has developed well."

"We continue to focus on international growth, particularly in new markets in the Asia-Pacific region," she stated.

"During the spring, new markets were opened up in Bangkok and Singapore as well as Dubai in the Middle East. The main thrust in expansion this year will be on openings of retailer-owned Marimekko stores. Our goal is to open a total of 10-20 new Marimekko stores and shop-in-shops," she stated.