(Filed Under wholesale Lingerie News). Van de Velde sales rose to 195.3 million euros (m€) (about $220 million at current exchange rates) in 2021, up 28.2% over 152.3 million euros (about $171 million) in 2020.
Net profit rose to 32.0 million euros (about $36 million), an increase of 117.7% over a profit of 14.7 million euros in 2020. The Belgium-based company owns the Marie Jo, PrimaDonna and Andres Sarda wholesale brands, as well as international retail chains including the Rigby & Peller (formerly Intimacy) stores in the U.S.
CEO Marleen Vaesen boasted, “2021 was an outstanding year for Van de Velde, despite a difficult start caused by COVID. We are very proud of our results with a strong growth in turnover and EBITDA. The second half of the year was exceptionally good with the highest turnover ever in this half of the year. We managed to achieve this by choosing the right strategical priorities. We elaborated our brands based on consumer insights and a 360° activation. The retail partner is our preferred partner, and we implemented an opti-channel strategy. This is being supported by advanced digital platforms and systems. Only engaged employees can realize this.”
The company broke out results for both its wholesale business and retail shops. “The comparable wholesale turnover increases by 18.4% to m€ 163.6 and the retail turnover grows by 23.7% to m€ 27.6. In Europe, the retail turnover increases by 17.8% and in the United States by 49.4%. The stronger growth in the United States reflects the fact that there were no lock downs in 2021 compared to long lock downs in 2020.” Despite the growth in the U.S., the company cut the number of its own Rigby & Peller stores to just three as of 2022 (see other article)
“In both segments, wholesale and retail, the following trends can be observed:
• Lingerie sales recovered strongly and even grow compared to 2019. This growth is driven by a strong performance in the second half of the year.
• Swim sales have not yet recovered due to uncertainties and restrictions related to traveling in spring 2021.
• Sales are highly stimulated by the opti-channel customer experience based on a 360° marketing activation through the different channels and improved digital platforms. The different campaigns positively impacted all channels, both physical and digital.”
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