Van de Velde suffers from slump in physical sales

Belgian lingerie group Van de Velde saw both turnover and profit decrease last year. Sales in independent physical stores suffered particularly hard in the first half of the year, which could not be offset by an online growth.

Stark contrast

Turnover fell by 2.3 % last year to 206.4 million euros, while net profit decreased by 4.8 % to 32.0 million euros in 2024. Direct sales to consumers increased by 11.3%, mainly thanks to digital channels. Van de Velde’s (much larger) wholesale turnover did fall by 7.1 %, partly due to a significant decline in swimwear sales in the first half of the year.

Despite these challenges, Van de Velde continues to invest in brand diversification and logistical support, transforming its Andres Sarda brand into Sarda in September. Van de Velde will be one of the first fashion companies to report according to the new European CSRD guidelines from this year: the company sees this extensive reporting on sustainability efforts as a strategic instrument for the long term.

The company says it remains optimistic about the future, supported by the strong market position of brands such as PrimaDonna and Marie Jo in the Benelux and Germany. It hopes to find renewed growth in the transition from physical to digital sales, as sales are stabilising at a third of independent lingerie boutiques – and even declining at the rest. “Every year, 3 % of stores close their doors. That is why we want our products to be present on more digital channels, with a separate webshop for each of our brands in more countries”, CEO Karel Verlinde told Belgian newspaper De Tijd.