31/08/2020
Invest in women's happiness! is the company behind the lingerie brands , and . These brands are well known for assuring every woman experiences the perfect fit. Consequently, they have an extremely loyal customer base. Some girls don't even want to wear anything else!
Next to the brands, they also operate the Riby&Peller stores and the Lincherie webshop. As currently online sales are only a smaller fraction of the turnover, Vandevelde suffered from store closures during the pandemic.
This company is large family-owned, and generated great returns on invested capital in the last years. It has done some buybacks recently, and returns almost 5% in the form of dividend.
The company is trading at low prices because of starting (too) late in e-commerce. They don't want to compete with their own customers, the small lingerie retailers. Now they have their webshops up and running, and we'll have to see how this evolves.