The Belgian clothing group Van de Velde NV was able to keep its sales largely stable in the 2023 financial year. However, the parent company of the lingerie brands Primadonna, Marie Jo and Andres Sarda had to announce a decline in profits on Thursday.
Last year, group sales amounted to 211.3 million euros. This meant it was only slightly below the 2022 level (-0.2 percent). Adjusted for the effects of postponed delivery dates, revenue increased by 0.3 percent, the company said.
The result, however, fell significantly short of the previous year’s level. The operating profit shrank by 5.7 percent to 45.3 million euros, the annual profit fell by 8.7 percent to 33.6 million euros.
The group announced fundamental reforms at its Andres Sarda label for the current year. In order to underline the repositioning of the brand, it will be renamed Sarda, the company announced.