Financial Statement Bulletin 2024, 19 February 2025:
“Our net sales in the fourth quarter reached a record high, and our result improved in spite of the challenging market situation. We achieved sales growth in all market areas, which reflects our consistent efforts to scale up the Marimekko phenomenon internationally.
Marimekko’s net sales increased by seven percent in the fourth quarter. Net sales totaled EUR 54.0 million (50.6), which made it the biggest quarter the company has ever had. The growth of net sales was driven particularly by the excellent development of our retail sales in all market areas. In the important domestic market of Finland, retail sales grew by eight percent in spite of the continued challenging market situation. Total net sales in Finland grew by three percent, while international net sales increased by 13 percent, supported by growth in sales in all of our market areas.
Our comparable operating profit in the October–December period amounted to EUR 9.3 million (8.3), and the comparable operating profit margin improved to 17.1 percent of net sales (16.4). Operating profit was strengthened especially by the growth of net sales. On the other hand, operating profit was negatively affected by the relative sales margin declining due to higher logistics costs.
Our full-year net sales for 2024 grew by five percent and amounted to EUR 182.6 million (174.1). Our comparable operating profit was EUR 31.9 million (32.0), which represented 17.5 percent (18.4) of net sales, and our financial position remained strong.
We continued to take determined steps in executing Marimekko’s SCALE strategy in the fourth quarter. The third limited-edition brand collaboration collection of the year with the global Japanese apparel retailer UNIQLO supported our work to increase our brand awareness. The various international collaboration collections help us introduce Marimekko to new customers. In addition, a jewelry collection made from recycled silver, created in partnership with Kalevala Jewelry, arrived in stores in October. We also continued to develop our omnichannel retail network. During the fourth quarter, five new Marimekko stores were opened in Asia and one in Finland. We also delighted our customers with five pop-up stores, mainly in Asia.
I would like to extend my heartfelt thanks to all Marimekko employees and partners around the world for our success in 2024. Every customer encounter is important in our work to serve both existing and new friends of our brand in the best possible way and thus take the Marimekko brand and our story forward. We are in an excellent position to continue our determined efforts in 2025 to scale up Marimekko internationally by challenging the fashion and design industry with empowering optimism, the art of printmaking and timeless design.”
Tiina Alahuhta-Kasko