Van de Velde: Sales -6.1%, Profit -10.6%

Left, the Marie Jo Melipha Padded Bra Heartshape,  $161; and right, the PrimaDonna Lenca Full Cup Bra, $169.00 on the company websites.

First half sales at Van de Velde fell 6.1% to m€ 113.3 (million euros, about $126 million at today’s exchange rates), compared to m€ 120.6 (about $134 million) in the same period last year.

Meanwhile first half profit for the group (that owns the PrimaDonna, Marie Jo and Rigby & Peller brands, among others) fell 10.6% to m€ 19.7 (about $22 million) from m€ 22.0 (about $24 million) in the six months that ended June 30, 2024.

Van de Velde revealed that “in the first half of 2024, we experienced a decrease in swim sales. The unfavorable weather conditions led to lower sales in many stores.” It added that “the B2B turnover amounts to m€ 87.9,” (about $98 million), “down 9.4% compared to last year. This reflects the present market conditions. We do manage to sustain our market position amongst independent retail partners. PrimaDonna was voted best-selling lingerie and swim brand for the first time by German independent retail partners.” (It said the sale information was based on “surveys with about 70 German independent retail partners by the trade magazine Sous-Magazin.”). 

Van de Velde reported “the turnover of the D2C segment ends at m€ 28.3” (about $31 million), “up 11.1% versus last year, thanks to the strong performance of our digital channels. Through ongoing marketing activation, we consistently attract new consumers to our brands.”

CEO Karel Verlinde, reporting on the first half, stated: “during this challenging spring for the fashion industry, we managed to sharpen our market position. The sales in the D2C segment continue to grow consistently thanks to our marketing activation. Firm control of working capital leads to a growth in cash position.”

Looking ahead at the second half of 2024, Van de Velde declared: “We approach the second half of the year with confidence, even though Van de Velde remains vigilant in the current environment. The strong market position of our brands PrimaDonna and Marie Jo in both the Benelux and Germany provides us with a strong foundation for the future. The launch of the Sarda brand got off to a promising start.”

The company claimed it works “in close partnership with 3.600 independent lingerie boutiques worldwide.” In addition the company has its own network of Rigby & Peller and Lincherie stores, which are located mainly in Europe, although there are still three Rigby & Peller shop in the U.S.