The Belgian Lingerie Group van de Velde had to accept slight losses in sales and profits in the 2024 financial year. The company experienced a weak start due to a “difficult spring for the entire fashion industry”, but was able to recover something in the second half of the year, explained CEO Karel Verlinde in the annual report.
The parent company of the brands Marie Jo, Primadonna, Sarda, Lincherie and Rigby & Peller generated sales of 205.8 million euros, which corresponds to a decrease of 3 percent on a comparable basis.
Sales in the wholesale business decreased by 7.1 percent and slowed down the company’s growth. Verlinden said that sales in the first half of the year had been negatively influenced by a “significant decline in swimwear sales”. The second half of 2024 brought a “gradual improvement” thanks to a “targeted strategy to strengthen the controlled availability of our brands in important city centers through cooperation with premium department stores”. The B2B turnover was 152.6 million euros.
Direct sales to consumers: on the other hand, progress made progress. Van de Velde recorded growth by 11.3 percent in this channel and achieved sales of 53.1 million euros. This growth was inspired by the digital sales channels. Van de Velde had expanded its digital strategy to new markets and platforms last year, which could compensate for the transition from physical sales outlets, according to the annual report.
The win from Van de Velde sinks despite an upward trend in the second half of 2024
The consolidated result before interest, taxes and depreciation (EBITDA) amounted to 50.2 million euros, compared to 56.6 million euros in 2023. This corresponds to a decline of 9.8 percent. The CEO said that this was due to the inflation in conjunction with targeted additional marketing investments and increasing personnel costs due to inflation. Van de Velde’s surplus of Group was 32 million euros, around 1.6 million euros less than in the previous year.
Despite the challenging market conditions, Verben is confident about the 2025 financial year: “The strong market position of our brands Primadonna and Marie Jo in the Benelux countries and Germany, combined with a growing physical and digital presence, form a solid foundation for the future.” The CEO emphasized that the Sarda brand has been attracting more customers since Rebranding in September 2024 than under its old name Andres Sarda. After rebranding, the Spanish lingerie brand should become a “next gene version”-towards a “brave and even more seductive future”.
This article was used with digital tools translated.
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