Van de Velde’s 2016 European sales grow while US slumps
Belgian lingerie group Van de Velde has recorded positive results in Europe for 2016, especially given the general economic situation, though the US remain a sore point. The initial report for the 2016 fiscal year shows the medium and high-end lingerie specialist, owner of the Rigby & Peller, PrimaDonna, Marie Jo and Andres Sarda labels, reaching a global revenue of €206.7 million, despite a shortfall in US retail figures.
In like-for-like terms and at constant exchange rates, Van de Velde actually reported 1.2% growth, but the consolidated figures are altogether stable.
Specifically, the wholesale business performed positively, growing by 3.4% in a flat market. On the retail side, chiefly for the Rigby & Peller label, the results show a 3.5% increase in Europe but a markedly different US performance (-20.2%). Results for the US Intimacy stores are still negative, with many lossmaking stores closed down. When Van de Velde acquired the Intimacy chain in 2010, it had 15 stores, and this year is down to 10. Van de Velde will publish its full yearly results on 20th February.
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