Home / Knowledge / News / Apparel/Garments / Innovation commitment spurs fiscal results at Van de Velde

Innovation commitment spurs fiscal results at Van de Velde

28
Feb '19
Pic: Van de Velde
Pic: Van de Velde
The continuous commitment to innovation at Van de Velde, aimed at unique comfort and fit, resulted in a fiscal stimulus. This resulted in a reduced effective tax rate of 11.9 per cent during fiscal 2018 as compared to 28.6 per cent during last year. Retail turnover on like-for-like store basis during 2018 at constant exchange rates increased 2.5 per cent.

The wholesale turnover on comparable basis decreased 0.6 per cent at constant exchange rates. A decrease in lingerie was largely compensated by growth in swim collection by the strong start of Marie Jo Swim. Taking the negative exchange rate effect into account on the one hand and the positive effect of higher deliveries of the spring/summer collection, the reported turnover declined by 1.6 per cent.

The cash position at the end of 2018 was €15.7 million. The operational cash flow amounted to €17.5 million in 2018 versus €35.0 million in 2017. The decrease is mainly due to the group’s increased cost structure. Working capital (current assets excluding cash and cash equivalents minus short-term liabilities excluding financial debts) rose from €36.1 million to €47.9 million. The solvency of the Van de Velde group remains very strong at 79.6 per cent in the end of 2018 Current assets amount to 3.2 times the short-term liabilities which indicates a very strong liquidity. Furthermore, the group is completely self-financed.

"Growing through focus on retail partners and brands — is the theme by which we want to further strengthen the foundations of our company in 2019. Van de Velde is all about designing and producing fashionable and high-quality lingerie after all. We bring these to the consumer through strong brands and strong retail partners," Van de Velde said about its prospects for 2019. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Textiles | On 17th Apr 2021

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Fibre2Fashion, the online platform for the global...

Pic: Shutterstock

Textiles | On 17th Apr 2021

China's economy grows 18.3% in Q1 2021

Powered by a strong domestic and foreign demand, China's economy grew ...

Pic: Shutterstock

Retail | On 17th Apr 2021

US retail sales saw strong rebound in March: NRF

As government cheques fattened consumers’ bank accounts and more...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Farmers who produce seeds earn 50 per cent more

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Rajesh Vig & Ritu Vig,

Rajesh Vig & Ritu Vig

Rajesh Vig and Ritu Vig, promoters of the kidswear brand Happy Feet,...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search