Finnish Marimekko’s net sales increased 7 percent to €37,7 million in the first quarter of 2024. The major growth is thanks to wholesale sales in the company’s home country Finland and internationally. The company’s initiatives in the Asia Pacific area pushed the net sales to rise 22 percent during that period.
The company noticed wholesale sales increased in Asia Pacific and North America. During the quarter Marimekko launched a new digital channel in China and opened online stores in both Vietnam and Malaysia. The company has the aim to open 10 to 15 new Marimekko stores and shop-in-shops throughout the year and most of them will be in Asia.
Furthermore, the company opened two stores in Japan and two pop-up stores in Australia this quarter. Japan is expectedly the most significant market for the full year. Historically Finland made out around half of the company’s net sales, but due to a general weak economy and low consumer confidence have impacted the sales in Finland in the first quarter.
Source: Insideretail.asia
