Van de Velde revenue increases 5.4% in 2015
today Jan 11, 2016
The positive growth of Van de Velde's European brands and stores is continuing. The Belgian group, intent on developing lingerie brands PrimaDonna, Marie Jo and Andres Sarda, as well as operating a series of specialist stores, including Rigby & Peller, recorded a 5.4% increase in revenue in 2015, reaching €209 million.
In like-for-like terms, the group stated that the growth was actually 5.7%. As for brands, all product segments generated sale increases, whether in lingerie, or swimwear.
In terms of European retail operations, the revenue has also grown, by 5.8% in like-for-like terms, for retail brands Rigby & Peller (in the UK, Denmark, Spain and Germany) and Lincherie (a long-standing brand in the Netherlands only). Results have been especially positive in the Netherlands (+5.7%) and Germany (+7.1%).
Finally, US chain Intimacy, a stumbling block for Van de Velde since its acquisition in 2010, has once again seen a revenue decrease in local currency terms. After a 12% decrease in 2014, the downturn in like-for-like terms in 2015 was 9.8%. However, the transformation of this group of 14 stores has already begun, passing under the Rigby & Peller banner last autumn. The group is hoping to steady its course on US soil with this new brand identity.
Thanks to exchange rate effects and the US dollar's strength, Van de Velde is already reaping the first benefits. Once converted into euro, the revenue of the former Intimacy label, turned into Rigby & Peller US, is actually growing by as much as 8.1%.
The full annual results for the Belgian group will be published on 24th February.
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