Van de Velde Sales -2.3%

Van de Velde net income for 2024 income fell 4.7% as sales slipped 2.3%. The company, which owns several brands and retail chains, noted that B2B sales were “152.6 million euros, [about $164 million at today’s conversion rate] down -7.1% from last year,” while D2C sales rose 11.3% from 48.0 million euros in 2023, to 53.1 million euros (about $57 million).

On the B2B side of the business, sales slipped from 164.3 million euros in 2023 because, ‘in the first half of the year, sales were negatively impacted by a significant decline in swim sales, while the second half of the year saw a gradual improvement.”

The Belgium based company concluded that “despite current market conditions, we look forward to 2025 with confidence. The strong market position of our Primadonna and Marie Jo brands in the Benelux and Germany, combined with a growing physical and digital presence, form a solid foundation for the future. The launch of Sarda in September 2024 is gaining momentum: we now reach more consumers than with Andres Sarda.”

A small but positive note on Van de Velde’s U.S. business: it is adding a new retail location after spending the last decade closing its stores here. This summer the company plans to open a PrimaDonna by Rigby & Peller location at 4300 Paces Ferry Road in Atlanta. On the  U.S. Rigby & Peller website the company now lists four separate locations. In addition to the new Atlanta location, the list includes three long-standing Rigby & Peller shops in Atlanta, New York and Chicago.

Van de Velde, which has long operated retail shops in Europe, acquired a large stake in the Intimacy chain of lingerie shops in the U.S., in 2007. It then proceeded to grow the chain to around 20 locations, acquiring the entirely of Intimacy by 2015. Meanwhile, in 2011, Van de Velde acquired a majority stake in Rigby & Peller, a U.K. brand founded in 1939, and in 2015 the name of the all the Intimacy stores was changed to that of the English brand. Sales at the U.S. stores proved disappointing, however, and the chain was losing money by 2014. Eventually Van de Velde starting closing stores, and by last year there were only three left in the U.S.

Above, from their websites, two of the Van de Velde brands. Left, from the new Sarda brand, Bremer Bralette (85 euros) and Briefs (50 euros); right, Marie Jo Swim Emly Bikini Top ($171) and Bikini Briefs Brazilian ($69).