Van de Velde FIRST LOOK : Looking forward to FY25 with confidence
We maintain our Buy and € 38.5 Target Price as we saw already a better 2H24 and Van de Velde indicates that -despite current market conditions- they look forward to FY25 with confidence. The strong market position of its 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. We welcome that the launch of Sarda in September 2024 is gaining momentum: Van de Velde highlighted that they now reach more consumers than with Andres Sarda.Van de Velde creates, produces and sells luxury women's lingerie under its own brand names. Co.'s brands are Marie Jo – 'Haute Lingerie' which provides timeless underwear fashion for the woman in all her forms; Marie Jo L'Aventure – 'Lingerie Pure' which provides Graphic luxury lingerie for the young-at-heart woman; and PrimaDonna – 'Exigez l'excellence' which provides luxury lingerie that combines a fit with fashion. Co. operates in a single reporting business segment, which is the production and sale of luxury lingerie. Co. reports its opeStefaan Vandammerations based on the geographical location of customers divided into euro zone and non euro zone.
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