Marimekko forays into sport with Adidas partnership, shares soar

Marimekko Oyj

28/05/2021 11:42

** Shares in Finnish fashion company Marimekko  MEKKO.HE 
jump 13% after the company announced a cooperation with Adidas
 ADSGn.DE   urn:newsml:reuters.com:*:nFWN2NE1GA
    ** Marimekko says the licensing income from the agreement,
which involves the company's first ever foray into sport
apparel, will be recognised in Q1
    ** In our view sport clothing is an interesting new
territory, as Marimekko has never before operated in that field,
Inderes says, adding that a company like Adidas raises attention
and adds to reliability
    ** We consider the news as interesting, Inderes adds
    ** Marimekko shares are up 45% YTD, driven also by positive
quarterly results and a guidance upgrade  urn:newsml:reuters.com:*:nL5N2N71UW
 urn:newsml:reuters.com:*:nL8N2IQ1Y6

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