Marimekko reports steady Q2 net sales driven by APAC growth

Finnish lifestyle design company Marimekko has released its half-year financial report for January to June 2026. The Helsinki-based company recorded second-quarter (Q2) net sales of 43.9 million euros (50.57 million dollars), nearly matching the record comparison period of 44.5 million euros. The performance was supported by strong international retail growth, particularly in the Asia-Pacific (APAC) region, which offset a retail decline in its domestic market.

For the first half (H1) of 2026, Marimekko's net sales increased by 2 percent to 85.3 million euros, compared to 84.1 million euros in H1 2025.

Tiina Alahuhta-Kasko, president and chief executive officer (CEO) of Marimekko, stated: “Marimekko’s net sales were nearly at the previous year’s record level, with international sales continuing growth in the second quarter, driven by the Asia-Pacific region. The challenging market situation affected retail sales in Finland.

International sales expansion counters domestic softness

During Q2, international net sales grew by 7 percent, led by strong retail performance across all overseas markets. The APAC region delivered the highest growth rate. In contrast, net sales in Finland fell by 7 percent, as domestic retail performance was impacted by a price-sensitive operating environment and lower-than-expected campaign yields. Rainy weather in Helsinki during Q2 also affected traffic for major events, including the annual Esplanade Park fashion shows. However, domestic wholesale sales grew, supported by non-recurring promotional deliveries.

In H1 2026, total international sales rose 8 percent, with APAC remaining the primary growth engine. Domestic sales in Finland declined by 4 percent overall during the six-month period.

Q2 operating profit stood at 4.7 million euros, down from 6.3 million euros in Q2 2025. Comparable operating profit for the quarter reached 5.1 million euros, or 11.7 percent of net sales, compared to 6.5 million euros or 14.6 percent in the prior-year period.

For the January-to-June period, operating profit totalled 9.9 million euros, compared to 10.6 million euros in H1 2025. H1 comparable operating profit reached 10.4 million euros, representing 12.2 percent of net sales, down from 10.9 million euros in the previous year.

Retail network expansion and strategic collaborations

Marimekko continued to expand its global physical footprint during Q2, opening six new stores across Asia and converting three pop-up locations into permanent units. The brand now operates over 100 stores and shop-in-shops in the APAC region. Additionally, the company entered two new markets in Southeast Asia, opening its first shop-in-shops in Manila, the Philippines, during May, followed by store openings in Indonesia after the end of the reporting period.

Brand awareness was further supported by three major collaboration launches in Q2: a jewellery collection with Finnish manufacturer Kalevala Jewelry, a tech accessory capsule with CASETiFY, and a home decor collection with US-based rug brand Ruggable.

“Our original lifestyle brand, which resonates with a broad customer base, paired with our strong financial position provide us an excellent foundation to continue our consistent work and investments in growth – both in Finland and in international markets,” added Tiina Alahuhta-Kasko.

Medium-term financial targets set amid steady 2026 guidance

Following the review period, Marimekko's board of directors established new medium-term (three to five years) financial targets to navigate current global market volatility. The company aims to achieve annual net sales growth of 10 percent and maintain a comparable operating profit margin of 20 percent. The company's long-term targets, set in 2022, remain unchanged.

For the full year 2026, Marimekko reaffirmed its financial guidance. Full-year net sales are expected to exceed the 189.6 million euros recorded in 2025, while the comparable operating profit margin is estimated to land between 16 percent and 19 percent.

Management noted that consumer confidence in Finland remains weak despite early economic indicators, and domestic net sales for 2026 are expected to remain flat or decrease slightly. Conversely, international sales and APAC turnover are projected to grow, supported by 10 to 15 planned store openings across Asia in 2026 and an anticipated increase in licensing income.