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8th January 2015, Schellebelle

Van de Velde reports growth in annual turnover

Van de Velde’s long-term strategy is based on expanding and developing brands around the Lingerie Styling concept (fit, style and fashion), especially in Europe and North America. Van de Velde, a leading Belgium based player in the luxury and fashionable women’s lingerie sector, has reported growth in the company’s consolidated turnover of 8.8% in 2014 (from EUR 182.4 million to EUR 198.5 million).

On a like-for-like basis, including comparable deliveries, consolidated turnover is up by 7.2%, the company reports. This turnover growth consists of the two main components.

The first one is growth in wholesale turnover by 9.7%, driven by the very successful launch of PrimaDonna Swim and the strong growth in lingerie, whilst the second shows a fall in retail turnover at Intimacy by 16.7% (12.0% on a like-for-like basis) in local currency.

Key figures

The turnaround at Intimacy remained elusive in the second half of 2014. Van de Velde acquired the remaining 15% of Intimacy shares from the Nethero family in early 2015 and now has a 100% shareholding in Intimacy.

In continental Europe retail turnover rose by 20.6%, especially due to strong like-for-like growth in Germany (14.8%) and the Netherlands (14.1%). Retail turnover at Rigby & Peller in the United Kingdom rose by 6.9% in local currency.

The results for the fiscal year 2014 will be announced on Tuesday 24 February 2015.

www.vandevelde.eu

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