Listed Belgian luxury lingerie house, Van de Velde says it expects turnover growth of around 6.5% for 2010 (excluding Intimacy). The company said in a statement earlier this week that backorders in December will determine what growth figure is precisely achieved. Turnover indications for the first half of 2011 are also said to be positive.
Profitability growth for 2010 is said to remain healthy and Van de Velde strives for earnings (EBITDA) in excess of €49m (excluding Intimacy).
For full year 2010, Intimacy expects turnover of $36.6m and earnings (EBITDA) of $1.5m. Eight months of this will be fully consolidated in Van de Velde’s figures, the company said. Van de Velde continues to invest in future growth, including two recent openings in Philadelphia and Detroit in the USA.
Van de Velde says it is pressing ahead with its long term initiatives, such as the exploration of Eastern Europe and the Far East, Sarda, the continued rollout of PrimaDonna TWIST and the further expansion of its retail network.
Since the beginning of October, Van de Velde has increased its stake in Top Form by almost 2.4% to 25.7%. This represents an investment of €1.5m. The additional 2.4% stake will not have any major impact on Van de Velde’s financial position, the company said.
Van de Velde NV is a leading player in the luxury and fashionable women’s lingerie sector. It pursues a long-term strategy based on expanding and developing brands around the Lingerie Styling concept (fit, style and fashion), especially in Europe and North America.
Author: Billy Hunter