Interim Report Q1/2026, 13 May 2026:
“Marimekko’s net sales grew, driven by higher international sales, and our operating profit improved despite continued uncertainty in the operating environment in the first quarter.
Marimekko’s net sales in the first quarter increased by five percent and amounted to EUR 41.4 million (39.6). Net sales were boosted particularly by the growth of wholesale sales in Scandinavia and Finland. Total international sales increased by nine percent, with retail sales rising by 20 percent with growth in all market areas, and international wholesale sales increased by four percent. The uncertainty in the operating environment continued, and consumer confidence, for example, is weak in many countries. Nevertheless, our net sales in Finland for January–March were on par with the comparison period, as non-recurring promotional deliveries increased domestic wholesale sales. The challenging market situation in Finland had an impact on retail sales, which declined by four percent from the strong comparison period. Globally, our omnichannel retail sales grew by three percent and wholesale sales increased by five percent.
Our comparable operating profit for the first quarter increased by 19 percent and amounted to EUR 5.3 million (4.4), representing 12.7 percent of net sales (11.1). Operating profit was increased by the improved relative sales margin and higher net sales. At the same time, higher fixed costs had a negative effect on operating profit.
Credit for succeeding in this challenging operating environment goes to the entire Marimekko personnel. Marimekko is a value-driven company, and we believe that when we feel well at work, it transmits to our customers and, consequently, shows also in our financial performance. We systematically develop our working environment and leadership culture, and we measure employee well-being and gather feedback from our personnel through a variety of ways. According to the results of the comprehensive employee survey conducted at the beginning of the year, which was completed by 90% of our employees, overall employee satisfaction at Marimekko is at a good level and has further improved. Leadership skills are also assessed as strong across the organization, and willingness to recommend Marimekko as a workplace is at an excellent level. Building on these positive results, we will continue to further develop our working community and culture into an even bigger strength going forward.
We kicked off the year 2026 in style by debuting the Winter ‘26 ready-to-wear collection in our hometown of Helsinki to mark Marimekko’s 75th anniversary. Marimekko’s art of printmaking, including both our iconic prints and more recently introduced designs, will also be showcased in completely new kinds of products in our collections throughout the anniversary year.
Optimism and colorful prints also take center stage in our collaboration collections. In March, we announced a new jewelry collection created in collaboration with Kalevala Jewelry. The collection is based on floral prints launched as part of the Field of Flowers exhibition that toured Asia last year. After the review period, a limited-edition collaboration collection with the global tech and lifestyle accessory brand CASETiFY was unveiled. The products range from phone and tablet covers to smartwatch straps and cardholders. Brand collaborations grow Marimekko’s brand phenomenon and brand awareness around the world, this way supporting our SCALE strategy.
At the beginning of March, we offered a glimpse into our rich print archives at the MATTER and SHAPE design event in Paris to introduce our unique aesthetic to industry professionals and design enthusiasts. After the review period, we created a warm and authentic Marimekko lifestyle experience for the media and professional audience at Milan Design Week, the leading international design event. Osteria Fiori di Marimekko celebrated not only colorful floral prints but also togetherness through food and bocce tournaments, for example.
Our store network grew in the first quarter: for example, two new stores were opened in Japan, and additionally six pop-up stores delighted customers across Asia. At the end of March, we also announced our expansion into two new markets in Southeast Asia. The first Marimekko shop-in-shops in Indonesia and the Philippines will open this summer. Marimekko will operate in both countries under the loose franchise partnership model, which is customary to Marimekko in Asia.
Our strong start to 2026 demonstrates our international competitiveness and puts us in a good position to continue to invest in, for example, increasing brand awareness, digitization, the development of our omnichannel retail network and sustainability, even in the constantly changing and challenging operating environment. We are excited to continue building the global Marimekko phenomenon together with all of our personnel and partners.”
Tiina Alahuhta-Kasko