The Finnish brand Marimekko’s sales fell to €35.3 million in the first quarter.
This was mainly due to a decline in Finnish wholesale and lower licensing income in the EMEA region. Still, net sales were helped by increased retail turnover in Finland and growing international wholesale. The full-year net sales are estimated to grow both in Finland and internationally.
President and CEO Tiina Alahuhta-Kasko said the results were as expected.
Globally the brand’s omnichannel retail sales increased by 9%. International wholesale sales grew by 8%, while the Asia-Pacific region increased by 16%.
The company has stated, that they have launched a new strategy and that the main focus will be on Asia as the most important geographical area for its international growth.
That was already seen in Q1 with two new stores opening in Beijing. The brand also expanded its e-commerce activities in China, opened a pop-up store in Taiwan and threw a Marimekko fashion show for SS23 in Thailand.