Van De Velde H1 turnover increases 0.4 percent

Consolidated turnover of Van de Velde in the first half of 2016 rose by 0.4 percent from 113.4 million euros (125.5 million dollars) to 113.8 million euros (126 million dollars). On a like-for-like basis (including comparable season deliveries) consolidated turnover was up 2.6 percent.

The company attributed the turnover growth to rise in wholesale turnover of 5.8 percent, in lingerie as well as swimwear and pre-orders for the second half of the year are higher than the same period in the previous year. However, turnover in the US decreased by 17.7 percent on comparable basis, both in local currency as well as in Euro as the average exchange rate remained relatively stable. Due to the closure of loss making stores, total retail turnover in the US declined by 27.7 percent.

Growth of retail turnover in Europe on comparable basis at constant exchange rates was 5.3 percent, driven by growth on comparable basis in the Netherlands of 7.6 percent and the UK of 5.5 percent. Taking into account exchange rate differences, growth on comparable basis was 1.2 percent. Total retail turnover in Europe declined by 3.9 percent due to closure of loss making stores and conversion of company-owned ones into franchised stores.

Yan Aerts joins as International Retail Director

Yan Aerts joins the Executive Committee of Van de Velde and will commence his tenure as as International Retail Director on September 1, 2016. Yan Aerts worked for more than 15 years for Mexx. He will be responsible for the further development of retail within Van de Velde, in close collaboration with wholesale and all new channels.