Home / Knowledge / News / Results/Reports / Marimekko posts Q2 FY20 sales of €23 mn

Marimekko posts Q2 FY20 sales of €23 mn

Aug '20
Pic: Shutterstock
Pic: Shutterstock
Marimekko, a Finnish lifestyle design company, has announced its second quarter (Q2) financial results for fiscal 2020. Company’s net sales fell 20 per cent to €23.3 million (Q2 FY19: €29.1 million) due to retail decline in Finland, North America and Scandinavia and decrease in wholesale sales in Asia-Pacific region during the quarter ended on June 30, 2020.
“During the period under review, the global fashion industry and specialty retail sector faced the worst crisis seen in several decades. The coronavirus pandemic brought discretionary consumption to a halt, which has led to serious financial difficulties for many players and has already toppled several significant companies in our industry,” Tiina Alahuhta-Kasko, president and CEO at Marimekko, said in a press release. “Dramatically, due to the pandemic, the doors of most Marimekko stores around the world closed temporarily.”
Sales in Finland fell 32 per cent while international sales were marginally affected by 3 per cent to €11.9 million (€12.4 million). While operating profit was €2.7 million (€3.7 million) during Q2 FY20. Company reported its result for the period (profit) were €2.2 million (€2.6 million).
“When our stores were temporarily closed, we had the agility to move our sales and marketing promotions online, including our popular annual springtime Friendship Sale promotion in Finland. Strong growth in the online demand for our products continued in the second quarter too and, working together with our recently-started new logistics partner, we were not able to increase the delivery capacity of our online store as quickly as necessary,” Alahuhta-Kasko said.
“The first half of 2020 has been completely exceptional and characterised by rapidly changing circumstances. We have learned tremendously and successfully developed new operating methods and capabilities that will be useful if the pandemic is prolonged or other crises of a similar nature happen in the future,” Alahuhta-Kasko said in the release.

Fibre2Fashion News Desk (JL)

Must ReadView All

Pic: Shutterstock

E-commerce | On 3rd Mar 2021

Digital e-com rules may negatively affect developing

Many digital rules being framed by a group of 86 countries under the...

Pic: Shutterstock

E-commerce | On 3rd Mar 2021

Jordan govt urged to impose tax on online purchases from

Asad Qawasmi, who represents the garment and jewellery sector at the...

Pic: Huntsman Textile Effects

Textiles | On 3rd Mar 2021

Huntsman, Sciessent partner for microbe & odour resistant

Huntsman Textile Effects, a Singapore-based provider of high-quality...

Interviews View All

Top executives, Retailers

Top executives

Weak rupee breeds inflation

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Headhonchos, Indian textile value chain

Indian textile value chain

'One nation, one tax' is a great concept

Rushiraj Mulani,

Rushiraj Mulani

The Shradhdha Group of companies was established in 2010 and is based out...

Puneet Jain & Yatin Jain,

Puneet Jain & Yatin Jain

Odhni is an indutva or ethnicwear brand started in 1999 by the Jain...

Spring Chang,

Spring Chang

A specialist in manufacturing printing machines, <b>Wenzhou Changs</b>...

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 ...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Hemant Bheda, Arevo

Hemant Bheda

Arevo, based in Silicon Valley in California, develops technology to...

Varsha Wadhwa, VW

Varsha Wadhwa

Coming from a family that ran a business of jute and linen mills since...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Igor Chapurin, Chapurin

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2021

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

Advanced Search