VAN DE VELDE: first half results show strong sales growth
THE VERY successful launch this year of the first swimwear collection under the PrimaDonna label made an important contribution to the first half sales growth recorded by Van de Velde. Against 2013, first half sales rose by 10.3 per cent to EUR 104m. Stronger sales of lingerie, including repeat orders for the S/S season, also helped to boost wholesale business by 13.8 per cent. On the retail front, the Intimacy chain in the US continued to disappoint but the group’s European chains performed well, especially in Northern Europe. Together, these developments pushed recurrent EBITDA to a first half record high, up by 20.5 per cent against a year earlier, at EUR 34.2m. More details are available on the company’s website (see link above).
The stronger wholesale business with lingerie suggests that more affluent consumers in Europe are perhaps becoming readier to loosen their purse strings.