Home / Knowledge / News / Apparel/Garments / Marimekko restructuring to yield savings of €2.5mn
Marimekko restructuring to yield savings of €2.5mn
07
Feb '14
Marimekko is planning to carry out a re-organisation of its operations, which is expected to result in the elimination of an estimated maximum of 65 jobs in Finland and the United States. 
 
If implemented to its full extent, the re-organisation will yield annual savings in costs estimated at roughly 2.5 million euros and an improvement in operating result. Marimekko has also decided to initiate an international recruitment process to seek a new Creative Director for the company.
 
In accordance with its strategy, Marimekko has undergone a dynamic phase of internationalisation and change in the past five years. The product distribution network has been greatly expanded in all of the company's main market areas: in the past three years, the number of Marimekko stores has grown by around 60 percent and the number of company-owned stores has almost doubled. New markets have been opened up in South Korea, China, Hong Kong, Taiwan and Mexico.
 
“In recent years, we have taken several very significant steps in our internationalisation for a company of our size. In spite of the difficult state of the global economy, we have built Marimekko into a global design company with already more than 130 stores in Asia, Europe and North America. It is now time to move into the next stage of our strategy, in which we seek a significant improvement in profitability at the same time as our growth continues,” says Mika Ihamuotila, President and CEO.
 
“We are reorganising our operations to strengthen the competitiveness of our business in the long term, and our goal is a more efficient organisational structure. Unfortunately, this will mean initiating consultative negotiations in Finland and reorganisations in the United States as well. 
 
We also want to create even more attractive products for our international customer base. For this reason, we are reinforcing our design unit by seeking a new Creative Director with international experience,” says Mika Ihamuotila, President and CEO.
 
Consultative negotiations and reorganisation
 
Marimekko will initiate consultative negotiations on all operations in Finland with the exception of the personnel at the textile printing factory in Helsinki. Reorganisations will also be carried out in the United States. The planned actions are expected to result in an estimated reduction of a maximum of 65 personnel in Finland and the United States. The other offices outside Finland are not within the scope of the reorganisations.
 
Click here to view full results
 

Marimekko


Must ReadView All

Textiles | On 28th Apr 2016

India clarifies position on export subsidies on cotton

The government has clarified India is not a major user of the export...

Textiles | On 28th Apr 2016

Pakistan’s Commerce Ministry to fund textile research

The Pakistani government has said that it would fund the research...

Courtesy: Pacific Brands

Apparel/Garments | On 28th Apr 2016

HanesBrands to buy top Aus underwear co Pacific Brands

HanesBrands, a leading worldwide marketer of underwear, intimate...

Interviews View All

Humayun Kabir Salim
Dird Composite Textile Ltd

The importance of textile industry in the economy of Bangladesh is very...

Engineer Sohail Lashari
Lahore Chamber of Commerce and Industry, LCCI

Should banning import and export of certain textile products be...

Veronique Lee
Modavanti

Sustainable fashion is not necessarily pocket- friendly. Are consumers...

Mr David Rousse
Association of Nonwoven Fabric Industry (INDA)

David Rousse is the new President of the Association of Nonwoven Fabric...

Mr. Anant Kanoi
TechFab India Industries Ltd

Mr. Anant Kanoi is the Managing Director of TechFab India Industries Ltd....

Dr. Rene Wollert
Freudenberg Nonwovens

<i><b>Dr. Rene Wollert</b> discusses the current scenario of the global...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search