Belgian: 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.
When Van de Velde acquired the Intimacy chain in 2010, it had 15 stores, but this year it has cascaded down to 10.