Decent turnover growth for Van de Velde thanks to PrimaDonna Swim

Decent turnover growth for Van de Velde thanks to PrimaDonna Swim

Belgian lingerie group Van de Velde had a 8.8 % turnover growth last year, mainly thanks to its extremely successful PrimaDonna swimsuit collection. The group has performed well in Europe, but still has work to do in the US.

European retail turnover up 20.6 %

Its full-year results will be presented on 24 February, but a trading update has revealed that consolidated turnover reached 198.5 million euro, an 8.8 % increase. On a like-for-like basis, that is a 7.2 % turnover growth. The wholesale division had a 9.7 % turnover increase, which it mainly attributes to the PrimaDonna Swim collection. Retail turnover on the European mainland grew an astonishing 20.6 %, thanks to strong German (+14.8 % on a like-for-like basis) and Dutch (+14.1 %) growth.

 

It is also the first full year the former Donker stores have been added to the numbers, as those stores only counted for three quarters in 2013. British Rigby & Peller results have also improved, up 6.9 % (+1.8 % on a like-for-like basis), despite a strong pound sterling.

 

The company, led by Ignace Van Doorselaere, is still struggling in the United States, where Intimacy store sales have dropped 16.7 % (-12 % on a like-for-like basis). Van de Velde owns 100 % of the store since the start of the year and has not denied it might write off part of the value of its American activities.

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