In fiscal 2021, the net sales of Marimekko, a Finnish fashion and textiles company, grew by 23% to EUR152.2m (123.6). The net sales of Marimekko were driven by the positive trend in wholesale and retailer sales in Finland. Wholesale sales in Asia-Pacific and Scandinavia, as well as retail in North America, also grew strongly.
In 2021, operating profit increased to EUR31.2 millions (18.8). Comparable operating profits grew by 59% to EUR31.2 millions (19.6). The earnings were driven by an increase in net sales, but also a better relative sales margin. A rise in fixed costs, on the other hand had a negative impact on results.
Marimekko reported a 29 percent increase in net sales to EUR48.1 million (37.3%) during the fourth quarter fiscal 2021. Marimekko stated in a release that net sales increased by 32 percent in Finland and by 23 percent internationally.
“Our strong performance was largely due to our efforts over the years to modernise and improve our lifestyle and brand collections, strengthen our digital business, and enhance the customer experience across all channels, as well as increase our international brand recognition from year to year,” Tiina Aalahuhta Kasko, President and CEO , , said.
The new operating practices that we adopted during the pandemic, and our ability to adapt to the ever-changing operating environment were important factors. I would like to thank the entire Marimekko Team for their incredible work. In spite of difficult market conditions our staff has persevered and worked with passion to overcome the challenges caused by the pandemic.
Marimekko Group is expecting to increase its net sales in 2022 compared to the previous year. The comparable operating profit margin is estimated at between 17-20%. The outlook for 2022 is volatile due to global supply chain disruptions, as well as generally higher material and logistic costs.
