Swimwear range boosts Van de Velde’s turnover

Belgian lingerie group Van de Velde has reported a 10.3% rise in turnover for the first half of the year.

Consolidated turnover rose from €97.0m to €106.9m, helped by the launch of PrimaDonna’s first swimwear collection and a strong growth in lingerie.

The company, which in May predicted that its wholesale turnover would rise by more than 8% in the first half of the year, said sales at this business unit grew by 13.8%.

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Retail turnover at Rigby & Peller in the UK rose by 9.1% (3.9% on a like-for-like basis) in local currency. This was due to the strengthening of the UK pound against the euro, said Van de Velde in a statement.

But the group remains concerned about its Intimacy brand, which saw a 22.7% fall in retail turnover in H1 2014.

“The impact in the carrying value of the intangible assets with regard to Intimacy will be examined during the half-year closing,” the company said.

“Based on the results of the first half of the year, there is a reasonable probability of an important impairment. This impairment is a non-cash charge and accordingly has no impact on the cash flow.”

In February, Van de Velde said it will examine the value of carrying the American brand after sales in the company dropped by 12% in 2013.

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