Van de Velde sees 2015 growth in wholesale, retail businesses

Van de Velde NV

24/02/2015 07:00

BRUSSELS, Feb 24 (Reuters) - Belgian lingerie maker Van de 
Velde  VELD.BR  on Tuesday said orders for its wholesale 
division at the beginning of the year were higher for 2015 than 
at the same time last year and growth should also continue in 
its retail divisions in the Netherlands, Germany and Britain. 
    The group said core profit in 2014 was 19 percent higher 
than in the previous year at 57.7 million euros ($65.36 
million), buoyed by growth in its wholesale business and better 
selling prices. 
    Van de Velde added, however, that would take another 
impairment on its U.S. brand Intimacy in 2015, after having 
already written off 31.4 million euros in 2014.  
    It said that after the additional 15.1 million euro 
write-off, the goodwill and value of the brand in its books 
would be zero. 
($1 = 0.8828 euros) 
 
 (Reporting by Robert-Jan Bartunek; Editing by Sunil Nair) 
 ((robertjan.bartunek@thomsonreuters.com)(+32 2 2876850)(Reuters 
Messaging: robert-jan.bartunek.thomsonreuters.com@reuters.net)) 
 
Keywords: VAN DE VELDE RESULTS/