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18th March 2019, Schellebelle

Van de Velde appoints new CFO

Van de Velde is a leading player in the luxury and fashionable women’s lingerie sector. © Van de Velde Van de Velde, a leader in the luxury and fashionable lingerie sector, has announced that Karel Verlinde will join the company as Chief Financial Officer starting on 22 April 2019. Karel Verlinde will report to Marleen Vaesen, CEO, and be part of the Management Committee.

Karel Verlinde has extensive experience in finance with a strong controlling background and a keen interest in business operations. He holds a Master degree in Economics from the Uiversity of Ireland Maynooth and the Ghent University.

Karel started his career in 2005 at IGI Corp., where he took up international positions in marketing and finance. In 2013 Karel moved to Brady Corp., where he was the finance manager of the EMEA operations. In 2017 he became Group Controller and was subsequently appointed CFO of IVC Group, a division of Mohawk Industries.

“Karel brings a broad international financial experience. We are convinced that Karel will be an important reinforcement of the Van de Velde Management Committee to further focus on our theme: Growing through focus on the retail partners and brands,” commented Marleen Vaesen, CEO.

Van de Velde 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.

Last month, the company reported an annual turnover for 2018, which decreased by 1.8% from EUR 209 million to EUR 205.2 million. At constant exchange rates, this amounts to a decrease of 0.8%. In the wholesale segment, turnover on comparable basis decreased by 0.6% at constant exchange rates.

A decrease in lingerie was largely compensated by growth in the company’s swim collection by the strong start of Marie Jo Swim. Taking the negative exchange rate effect into account on the one hand and the positive effect of higher deliveries of the spring/summer collection, the reported turnover decreased by 1.6%.

www.vandevelde.eu

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