Van de Velde Sharpening its market position in challenging spring for fashion industry
We updated our model on Van de Velde after the unfavourable weather conditions led to lower 1H24 sales in many stores. Especially in swim sales, they experienced a decrease.We lower our Target Price to € 38.5 (was € 40) but maintain our Buy-rating as Van de Velde approaches 2H24 with confidence, even though they remain vigilant in the current environment. The strong market position of its brands PrimaDonna and Marie Jo in both the Benelux and Germany provides them with a strong foundation for the future. We welcome that the launch of the Sarda brand got off to a promising start. So, Van de Velde is sharpening its market position in challenging spring for fashion industry.
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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