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Marimekko continues expansion in Asia while profits decline

The Finnish design house Marimekko plans to continue expanding the number of its outlets in the Asia-Pacific region. Although the company’s Q2 volume of business was up, results slipped downwards.

Marimekon myymälä Hong Kongissa.
A Marimekko shop in Hong Kong. Image: Marimekko

Marimekko has continued international expansion particularly in the Asia-Pacific region, opening up new markets in Bangkok and Singapore, as well as Dubai in the Middle East. The company has a total of 150 outlets, most of them outside Finland.

The company’s second quarter net sales grew by 7 percent over the same period of 2014 to 23.4 million euros. Operating profit excluding nonrecurring items was 0.3 million euros.

Marimekko reported Wednesday that its operating profit was decreased by a decline in the sales margins on wholesale sales, and by an increase in design and marketing expenses.

Most of Marimekko’s retail outlets are located in Finland, North America and the Asia-Pacific region.

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