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Marimekko reports improved profits, sales in 2018

Cooperation with international brands like Uniqlo and Clinique helped raise profits by 42 percent, according to Marimekko's CEO.

Satu Maaranen
File photo of Marimekko-designed fabric. Image: Mikko Koski / Yle

Finnish fashion firm Marimekko's net sales grew by 9 percent and comparable operating profits increased by 42 percent in 2018, according to a company financial statement issued on Wednesday.

Overall sales for 2018 reached 111.9 million euros, while operating profits rose to 17.7 million euros, according to the company.

The firm's final-quarter net sales of 29.7 million euros were on par with the same period in 2017 and boosted by growth in retail and wholesale sales.

Marimekko's CEO Tiina Alahuhta-Kasko said its limited time retail promotions with Japanese fashion brand Uniqlo and US cosmetics firm Clinique helped to increase sales.

That collaboration raised the company's visibility around the world, according to Alahuhta-Kasko, adding that the firm also invested in its retail stores.

"The Marimekko flagship stores in Stockholm, Tokyo and Sydney were revamped during the year. The flagship stores play a central role as the most prominent embodiment of our brand in the world," Alahuhta-Kasko said.

More sales anticipated in 2019

The firm said it expects improvements to continue through this year.

"The Marimekko Group’s net sales for 2019 are forecast to be higher than in the previous year and comparable operating profit is estimated to be approximately at the same level as the year before," the company reported on Wednesday.

“In 2019, we will invest considerably more in growth than in the past year. We will revamp our store network and improve IT systems to underpin our digital business," Alahuhta-Kasko said.

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