Finnish design company Marimekko Corporation drew more than half its revenue from outside Finland in the third quarter of 2026, as international growth offset falling sales in its home market.
Marimekko reported €52.1 million in net sales for July through September, up 3% from a year earlier. Sales outside Finland climbed 16% to €27.1 million and made up 52% of the total, compared with 46% a year earlier. Finnish sales fell 9% to €25.1 million.
Every international market area recorded growth. Asia-Pacific, Marimekko's second-largest market area, generated €12 million in sales, up 10%, while North American sales rose 29% to €3.5 million. For 2026, the company now plans to add about 15 to 20 stores and shop-in-shops, up from its previous plan of 10 to 15. Most are planned for Asia.
In Finland, wholesale sales declined 18% and retail sales fell 4%. Marimekko said it made fewer promotional wholesale deliveries than a year earlier. Separately, Statistics Finland reported that its consumer confidence indicator fell to minus 9.7 in October from minus 4.9 in September.
Operating profit edged up to €12.7 million from €12.5 million, although the reported operating margin narrowed to 24.4% from 24.6%. Marimekko said higher net sales and an improved relative sales margin supported profit, while increased fixed costs weighed on it. Comparable operating profit rose to €13 million from €12.7 million, and its margin increased to 25% from 24.9%.
Cash generated by operations dropped to €5.3 million from €11.4 million. Marimekko said working capital changes accounted for most of the decline. For the first nine months of 2026, net sales rose to €137.5 million from €134.8 million, while operating profit slipped to €22.6 million from €23.1 million.
Marimekko kept its group forecast, expecting full-year sales to exceed the €189.6 million recorded in 2025 and a comparable operating margin of about 16% to 19%. Its outlook for Finland has weakened: an August forecast called for sales there to be roughly unchanged or slightly lower, while the company now expects a decline. Marimekko President and CEO Tiina Alahuhta said the fourth quarter is important for annual sales.
The company has scheduled an investor and media webcast for Nov. 4 at 7 a.m. ET (12:00 UTC).
