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Belgian bra-maker Van de Velde full year beats view

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Reuters
Published
today Jan 7, 2010
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BRUSSELS, Jan 7 (Reuters) - Belgian luxury bra and knickers maker Van de Velde NV (VELD.BR) said sales growth in 2009 beat its expectations and added that as far as it could tell the first half of the current year would see a broadly similar increase.


Marie Jo lingerie, a Van de Velde brand - Photo: www.mariejo.com

"Only 50 percent of my forecast is possible so it's very difficult to pin me down on numbers, but in the next six months we see the current trend going on," Chief Executive Ignace Van Doorselaere told Reuters in a telephone interview.

The company said earlier on Thursday 7 January its full-year revenue rose 5.3 percent to 140.1 million euros ($201.2 million), beating its expectations for up to 4 percent growth as its luxury boutique customers stuck with well-known brands, giving it market share gains.

Van de Velde's brands include Marie Jo and PrimaDonna.

"(In a recession) you take less risks, you do less experiments and you go back to what you know ... that's a human reflex," said Van Doorselaere.

Van de Velde, which sells high-end lingerie in Europe, the United States and Asia, added that excluding its 2008 Spanish acquisition Andres Sarda, turnover for 2009 rose 3.4 percent. (Editing by David Holmes) ($1=.6963 Euro)

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