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7th July 2016, Schellebelle

Van de Velde reports increase in turnover in first half of 2016

Van de Velde is a leading player in the luxury and fashionable women’s lingerie sector. Van de Velde, a leading player in the luxury and fashionable women’s lingerie sector, has announced that its consolidated turnover in the first half of 2016 rose by 0.4% from EUR 113.4 million to EUR 113.8 million.

On a like-for-like basis, including comparable season deliveries, consolidated turnover is up by 2.6%.

Turnover growth components

According to the company, this turnover growth consists of the several components. Firstly, it is growth of wholesale turnover of 5.8%. The growth continues both in lingerie, as well as swimwear. Also pre-orders for the second half of the year are higher than the same period in the previous year, the manufacturer reports.

Another aspect is a decrease of retail turnover in the US by 17.7% on comparable basis, both in local currency, as well as in Euro, as the average exchange rate remained relatively stable. Due to the closure of loss making stores, total retail turnover in the US declined by 27.7%.

The final element is growth of retail turnover in Europe on comparable basis at constant exchange rates by 5.3%, especially driven by growth on comparable basis in the Netherlands (7.6%) and the UK (5.5%). Taking into account exchange rate differences, growth on comparable basis is 1.2%. Total retail turnover in Europe declined by 3.9% due to closure of loss making stores and conversion of owned into franchised store.

New International Retail Director

The company has also appointed Yan Aerts as the International Retail Director, who joins the Executive Committee of Van de Velde and starts in his position on 1 September. Yan Aerts worked for more than 15 years for Mexx, an international fashion company.

He will now be responsible for the further development of retail within Van de Velde, in close collaboration with wholesale and all new channels.

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.

www.vandevelde.eu

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