Van de Velde records solid growth in first half

By

Anaïs Lerévérend

Published
Jul 8, 2014

The Belgian company Van de Velde performed well in the first half of 2014. The lingerie and beachwear manufacturer (PrimaDonna, Andres Sarda, Marie Jo) has so far shown solid growth given economic conditions and despite flat results for its American chain Intimacy. The group’s turnover rose by 10.3% to 106.9 million euros, an increase of 9.1% on a comparable basis.

The group explains the improvement by pointing to the successful launch of its swimwear line PrimaDonna, but lingerie is also growing, its wholesale segment having increased by 13.8%.

The trend should remain positive for the second half, although, of course, somewhat less so as beachwear will not play as important a role over.

In terms of retail, however, the group’s three chains didn’t have the same luck as in the first six months of the year. Unfortunately, the American chain Intimacy continues to see its sales fall. During the first half, the decline was by 14% on a comparable basis - 22% taking into account the weakening of the dollar against the euro.

The European chain Rigby & Peller has, on the other hand, had a good first half. In the United Kingdom, its home country, it has seen its turnover increase by 9.1%, or 3.9% on a comparable basis. In Germany, the increase was by 18.9%, also on a comparable basis.

As for the rest of Europe, growth was 12.6%, but there were closures in Spain, and in Paris of its only French stores. There have been openings, however, in Denmark as the chain orients itself toward Northern Europe.