Van de Velde sees 8.8% rise in turnover
After increases of 0.3% in 2013 and 1% in 2012, the time has come once for positive results from Van de Velde. A lingerie specialist that owns the brands PrimaDonna, Andres Sarda and Marie Jo, as well as the retailers Intimacy and Rigby & Peller's, the Belgian group has just announced an 8.8% rise in turnover for its 2014 fiscal year. On a like-for-like basis, the increase was by 7.2%, totaling at 198.5 million euros.
Several positive elements of Van de Velde’s business have set the stage for the growth. First: 9.7% growth in its brands’ wholesale turnover. The excellent performance was driven in particular by the very successful launch of PrimaDonna’s beachwear line in 2013 as well as strong growth in lingerie.
Another supporting element: retail in Europe. The Belgian group has begun solid investment its British chain Rigby & Peller, for whom it is planning future openings. The retailer saw its sales increase in 2014 by 6.9% in the UK (1.8% on a comparable basis in local currency).
In Germany, where the retailer has established itself more recently, the group recorded growth of 14.8% on a comparable basis. In the Netherlands, Van de Velde’s other chain, LinCHérie, recorded a 14.1% rise.
The only sour note for Van de Velde—and this for the past several seasons: the American chain Intimacy’s. Its business still did not recover in the second half, and the retailer ended its year with a 12% decline in revenues on a comparable basis.
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