Tiina Alahuhta-Kasko, President and CEO of Marimekko said in a recent press release reporting the company’s growth that Asia and Scandinavia are the company’s main focus in its current strategy plan for 2023-2027.
“Our good development continued in the third quarter. Our net sales grew both in Finland and internationally, and our operating profit improved. Nine Marimekko stores were opened in Asia. We are continuing the determined scaling up of our profitable growth,” Alahuhta-Kaskosaid said.
In Asia, six Marimekko stores out of nine were already opened in Southeast Asian countries including Singapore, Vietnam, and Malaysia. Its goal is to build an omnichannel ecosystem and a strong local Marimekko community in the key cities.
“Singapore is an important global metropolis in South East Asia, and the brand’s presence there has a wider impact in Asia.”
“Vietnam and Malaysia, in turn, are rapidly growing markets, and we believe that this is the right time to enter these markets offering interesting growth opportunities,” Alahuhta-Kasko continued.
By this year, Marimekko also plans to open approximately 15 to 20 new Marimekko stores and shop-in-shops, and most of the planned openings will be in Asia.
However, it fully was aware of risks from economic recession, general cost inflation, increasing interest rates, and the energy crisis as well as geopolitical tensions, etc, it said.
Despite possible uncertainties in the economic world, “Marimekko is closely monitoring the general economic situation and the development of consumer confidence and purchasing power, as well as the impacts of Russia’s war against Ukraine and possible other exceptional situations, and the company will adjust its operations and plans according to the circumstances,” it added.