Vanity Fair Brands Europe (VFB) is looking to increase its revenue by 60% by 2020 after undergoing a major restructure.
Speaking to Lingerie Insight, international sales director Pierre Garnier said he expects sales to soar with the help of a new management team and exciting new collections.
“I can’t disclose actual sales figures, but we were making around EUR50mn last year and we are targeting EUR80mn by 2020,” he said.
VFB showcased the results of its major restructure at Mode City last month with debut beachwear collections and redefined lingerie lines from its LOU, Vanity Fair, Bestform, Cherry Beach and Variance brands.
After becoming part of the Perceva investment fund in summer 2015 and appointing new president Joelle Pellegrin, the French business has focused on repositioning the brands with new identities built on their original signature styles.
“One of the first things we did was to look at all the brands, one by one, to find their real identity and their real DNA. So now we have a clear vision of what we have,” said Garnier.
“Now, when you look at all our brands, you can see that they are all doing a different job and, all together, they meet the needs of most consumers. There is something for everybody. You have stylish products for a good price, the French corsetry of LOU and the fashion and the incredible modernity of Vanity Fair.”
Over the past few months, Pellegrin, the former managing director for continental and south Europe at La Perla, has hired her own aides-de-camp to fulful an expansion project for the brand portfolio consisting.
Former La Perla CFO for the French and Spanish business Miguel Santoro was appointed CFO of VFB, while Philippe Natrella has been hired as the new HR and Business Controlling director.
Carol Johnson, the former Sales Manager for the Body Cover Group, has also come on board as country manager for the UK and Ireland.
“Carol is doing very well and she opened a lot of new doors for us,” said Garnier.
“She has contacts with some beautiful department stores so it’s really exciting. We need to push and grow with key accounts and digital business. We are ready to consider every option the UK marketplace offers.”
Garnier said VFB has high hopes for the future, with plans to become one of the leading lingerie and swimwear groups in the industry.
“What you saw in Lyon was beautiful, but that was just the first step,” he said.
“Our CEO and our shareholder, Perceva, are very ambitious about the future. They understand that if we want to achieve our goal, that is to be one of the key players of this industry, then we will have to invest a little bit more and we are ready for that.”
Read the September issue of Lingerie Insight for a full interview with Pierre Garnier.