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


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Sunil Kumar Sharma, Loknayak JPNSSSG Ltd

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Herbert Guebeli,

Herbert Guebeli

Switzerland-based Sedo Engineering develops technologies for the denim...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


November 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search