Belgian women’s intimate wear group, Van de Velde has recorded positive results in Europe for 2016, however the US remains a sore point by the end of the last year. The initial report for the 2016 fiscal year shows the medium- and high-end lingerie specialist reaching a global revenue of € 206.7 million, despite a shortfall in the US retail figures. In like-for-like terms and at constant exchange rates, Van de Velde actually reported 1.2 per cent growth, but the consolidated figures are altogether stable.
Owner of the Rigby & Peller, PrimaDonna, Marie Jo and Andres Sarda labels, the company’s wholesale business performed positively, growing by 3.4 per cent in a flat market. On the retail side, chiefly for the Rigby & Peller label, the results show a 3.5 per cent increase in Europe but a markedly contrary US performance (- 20.2 per cent). Results for the US Intimacy stores are still negative, with many loss-making stores closed down.
Also Read – Van de Velde expects continued growth in 2015
When Van de Velde acquired the Intimacy chain in 2010, it had 15 stores, but this year it has cascaded down to 10.
