Marimekko Asia continues expansion
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Finnish homewares retailer Marimekko says it will stick to its Asia and Middle East expansion program despite declining profits.
“We continue our expansion in line with our internationalisation strategy, particularly in the Asia-Pacific region,” said Marimekko president Tiina Alahuhta-Kasko.
“This year, new markets have opened up in Bangkok and Singapore as well as Dubai in the Middle East. Deliveries to Japan and the rest of Asia were on a good level in the second quarter, although sales for the whole year are forecast to be lower than in 2014.”
Marimekko has reported a net sales growth of six per cent globally in the six months to June 30, to euro 43.6 million, driven by new stores and the development of discount outlet stores and an online shop in Finland, together with the stronger US dollar.
Besides building its Marimekko Asia operations, the company is focusing on its eCommecre offer.
“The development of digital business is an important part of the current stage in our strategy,” explained Alahuhta-Kasko.
“The trend in our online sales has continued to be positive and we will continue to focus on enhancing the customer experience to make it even more inspiring and more seamless between our online and offline stores. As part of this process, we are also updating our store and service concept.”
Questions & Answers
Q.What is Marimekko's strategy for growth, given its declining profits?
What is Marimekko's strategy for growth, given its declining profits?
Marimekko will continue its expansion in Asia and the Middle East, opening new markets. It is also focusing on developing discount outlet stores, its online shop in Finland, and enhancing its e-commerce offer and customer experience.
Q.Which new markets has Marimekko entered recently in its expansion efforts?
Which new markets has Marimekko entered recently in its expansion efforts?
This year, Marimekko has opened new markets in Bangkok and Singapore within Asia-Pacific. Also, the company has expanded its presence into Dubai in the Middle East.
Q.How did Marimekko's global net sales perform in the first half of the year?
How did Marimekko's global net sales perform in the first half of the year?
Globally, Marimekko reported a net sales growth of six per cent in the six months to June 30, reaching euro 43.6 million. This growth was driven by new stores, discount outlets, and an online shop, aided by a stronger US dollar.
Q.Is Marimekko updating its physical store experience as part of its strategy?
Is Marimekko updating its physical store experience as part of its strategy?
Yes, Marimekko is updating its store and service concept. This is part of a process to enhance the customer experience, making it more inspiring and smooth between online and offline stores.
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