Tampere's Agtuvi returns to profit as Finland's garment sector reels

YLE reports that bankruptcies have hammered Finland's garment industry, but Tampere children's clothing maker Agtuvi is still operating and has returned to profit. The family-run firm credits cautious risk management and a narrow product focus for its resilience.

The Finnish textile sector has shrunk drastically from its heyday, hit by years of weak domestic demand, rising production costs and thinner margins. Economists say such conditions often lead to bankruptcies when companies simply run out of cash. Agtuvi CEO Janne Puskala says the company avoided aggressive expansion in favour of steady, controlled growth, concentrating on children's clothes. It reduced trade with Russia well before the 2022 war and shifted exports toward Norway, which now accounts for nearly half of export sales. Most domestic sales come through its online store. Its financial statements show Agtuvi posted a €38,000 profit last year and carries an equity ratio above 40 percent. About ten people work there, and the business involves three generations of the Puskala family, with younger family members already involved though their long-term plans remain undecided.

Earlier reporting has highlighted bankruptcies and cash-flow crises among Tampere-region textile and retail firms, including Besign's filing for bankruptcy and Löytötex's liquidation sale.