Luxury lingerie company Van de Velde experienced its ‘best every year’ in 2010 with a 7.3 percent organic turnover growth, according to an Annual Report, released last week.
Overall turnover rose from 140.1 million euro to 160.3 million euro and post-tax profit profits increased from 26.6 million euro to 40 million euro.
Business reportedly improved in all countries for the company, which owns brands such as Marie Jo, PrimaDonna and Sarda.
The company started positions in new markets during the period, including agencies in Australia, Serbia and Croatia, a fledgling export business in Israel, ‘good progress’ in Poland and initial impetus in Turkey.
In the report, Van de Velde predicted that 2011 would be a more difficult year and that consumer spending would not grow in Western Europe or the United States.
Chairman of the board Lucas Laureys said: “This wonderful achievement is no guarantee for the future. It is unjust and dangerous to expect or even demand constant growth from a company without the odd stutter. Especially in the current climate.”
-The company will provide a new dimension to the company’s Lingerie Styling programme, with the programmes for all the main brands being given extra financial resources.
-The focus of the sales organisation will be altered and the PrimaDonna offering broadened.
-The retail formats (Intimacy in the USA, LinCHérie in the Netherlands, Oreia in Germany) will be given attention and resources to support further growth.
-The company will seek to gradually shift eastwards, with improved delivery of its Sarda brands, a major upgrade to the M3 ERP system and the possible build of a logistics platform in Tunisia.
-The physical space in Schellebelle will be increased and in 2011 the company will expand in Wichelen to create a bigger, better balanced space for production, logistics and administration in 2012.
-Van de Velde will also to take account of potential rises in costs of its stitching operations and currency risks.