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2010-08-12 08:05:00 CEST 2010-08-12 08:05:04 CEST REGULATED INFORMATION Marimekko - Company AnnouncementMARIMEKKO STRENGTHENS ITS PRESENCE IN INTERNATIONAL MARKETSMarimekko Corporation STOCK EXCHANGE RELEASE 12 August 2010 at 9.05 a.m. MARIMEKKO STRENGTHENS ITS PRESENCE IN INTERNATIONAL MARKETS In accordance with its internationalisation strategy, Marimekko is going to take the following significant steps to strengthen its presence in international markets by the end of 2010. In the United States, which has been one of the key market areas for Marimekko since the 1960s, a new subsidiary will be founded to manage and develop the local operations in collaboration with the brand management firm C2Group. A showroom will be opened in Manhattan, New York, in August 2010. In the long run, Marimekko's objective is to expand the distribution of its products in the United States through high-end department and specialty stores as well as by increasing the number of Marimekko stores. The company's current retailers include Marimekko concept stores in New York, Cambridge and Miami. In mid-October, a 1,775 square foot Marimekko shop-in-shop will be opened in home furnishings retailer Crate and Barrel's store in Soho, New York. Marimekko and Crate and Barrel are also exploring further opportunities for collaboration, including additional US shop-in-shops and ecommerce. The valued relationship between Marimekko and Crate and Barrel has spanned over 40 years. The network of Marimekko's own retail shops abroad will be expanded by the end of 2010 with the opening of new stores in Malmö, Sweden, and Berlin, Germany. Marimekko currently has its own retail shops in London (UK), Stockholm (Sweden) and Frankfurt (Germany) in addition to twenty-two shops in Finland. South Korea's first Marimekko concept store will be opened in Seoul in October 2010 by I.D. Look Co., Ltd., a subsidiary of Marimekko's Japanese distributor Look Inc., who has successfully opened as many as twenty Marimekko concept stores in Japan since 2006. For additional information, contact: Marimekko: Mika Ihamuotila, President and CEO, tel. +358 9 758 71 Päivi Lonka, Director, International Sales and Licensing, tel. +358 9 758 7261, paivi.lonka@marimekko.fi Crate and Barrel: Vicki Lang, Manager, Public Relations and Community Affairs, tel. +1 847 239 6658, vlang@crateandbarrel.com MARIMEKKO CORPORATION Group Communications Piia Pakarinen Tel. +358 9 758 7293 Fax +358 9 755 3051 E-mail: piia.pakarinen@marimekko.fi DISTRIBUTION: NASDAQ OMX Helsinki Ltd Principal media Marimekko's web site: www.marimekko.com Marimekko, established in 1951, is a leading Finnish textile and clothing design company renowned for its original prints and colours. The company designs and manufactures high-quality clothing, interior decoration textiles, bags and other accessories. Marimekko products are sold in about 40 countries. Products with Marimekko designs are also manufactured under licence in various countries. In 2009, the company's net sales amounted to EUR 72.5 million, of which international sales accounted for 27.3%. The Group employs about 370 people. The company's share is quoted on NASDAQ OMX Helsinki Ltd. Multi-channel home furnishings retailer Crate and Barrel was founded in Chicago in 1962 by retailing pioneers Gordon and Carole Segal. Working directly with European ateliers and factories to import their products, Crate and Barrel was among the first to make contemporary tabletop and kitchenwares designs affordable to American consumers. Today, Crate and Barrel is an industry leader, known for exclusive housewares and furniture designs, excellent value and superb customer service. In addition to a thriving direct marketing division, the company operates stores in most major North American markets, including Toronto and Calgary. Currently under the leadership of CEO and President Barbara A. Turf, the Crate and Barrel family of brands now includes its more modern off-shoot, CB2, and childrens' home furnishings retailer, The Land of Nod. Crate and Barrel is a privately held company owned by the Otto Group of Hamburg, Germany. www.crateandbarrel.com |
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