Marimekko Corporation, Press Release 5 October 2011 at 9.00 AM
MARIMEKKO FLAGSHIP STORE OPENS ON NEW YORK’S FIFTH AVENUE
In its stock exchange release of 18 March 2011, Marimekko announced that it was opening its own flagship store in New York City in the heart of Manhattan. The flagship is located in the Flatiron District at 200 Fifth Avenue at 23rd Street, at the intersection of Fifth Avenue and Broadway. With a concentration of many attractive interior decoration and design shops, cafés and restaurants, the district enjoys growing popularity as a shopping area for local people. The store’s opening is celebrated today.
The new flagship store plays an important role in building up Marimekko’s profile and strengthening the brand image in the United States. The store has been built as an experience-rich meeting place in which Marimekko’s varied colours and design idiom lead the customer from one inspiring mood to the next. The range embraces all product lines, and it is intended for the store to act as a showcase for new products in particular. The NYC store is based on the same concept as the flagship opened in Helsinki earlier this year – both stores were designed by the Japanese architectural firm IMA in cooperation with Marimekko’s own shop design team.
“I’m happy that Marimekko’s new flagship store is opening in an exceptionally good business location on the corner of perhaps Manhattan’s most famous streets, Fifth Avenue and Broadway. The store is the spearhead of our strategy for the United States and its mission is to showcase the whole world of Marimekko at its best and its full scope for American consumers. The flagship will support our online store, which opened in the summer, and our large-scale cooperation with Crate and Barrel. At the moment, there are already six Marimekko stores inside Crate and Barrel home furnishings stores, and the intention is to open 17 more. The flagship store will also have a specific role when we seek to open doors to new distribution channels or to find new partnership scenarios, for example something like the Converse ♥ Marimekko range, not only in the United States but also in other international markets. The new store and our other investments in the United States are important to Marimekko, but they can’t be expected to pay off in the very short term. However, I believe that they will bear fruit in the longer term,” says President and CEO Mika Ihamuotila.
The arrival of the new store in New York will be celebrated in a number ways. During the opening week, New Yorkers will also be able to see Marimekko’s colours and patterns around Madison Square Park and the Flatiron District. Tomorrow, 6 October 2011, Marimekko will introduce itself to a large audience of investors and financial media representatives in the Closing Bell ceremony at New York’s NASDAQ. A live webcast of the ceremony, starting at 3:45 p.m. NYC time, will be available at www.nasdaq.com/about/marketsitetowervideo.asx.
For images, please contact Minttu Kuoppala, Communications Coordinator, tel. +358 9 758 7375, minttu.kuoppala@marimekko.fi.
MARIMEKKO CORPORATION
Group Communications
Piia Pakarinen
Tel. +358 9 758 7293
piia.pakarinen@marimekko.fi
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Marimekko is a Finnish textile and clothing design company renowned for its original prints and colours. The company designs and manufactures high-quality interior decoration items ranging from furnishing fabrics to tableware as well as clothing, bags and other accessories. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. Marimekko products are sold in approximately 40 countries. In 2010, brand sales of Marimekko products worldwide amounted to approximately EUR 150 million and the company's net sales were EUR 73 million. The number of Marimekko stores totalled 84 at the year end. The key markets in 2011 are North America, Northern Europe and the Asia-Pacific region. The Group employs around 390 people. The company’s share is quoted on NASDAQ OMX Helsinki Ltd. www.marimekko.com.