A Long Journey to Success
Victoria Beckham’s fashion brand has been struggling to make a profit for years, despite receiving critical acclaim and celebrity endorsements. The company reported losses of £5.9 million in 2021, down from £8.6 million in 2020. The cumulative losses for the brand stood at £66.3 million as of 2021.
The COVID-19 pandemic also hit the business hard, forcing it to cut staff and salaries, close its London store temporarily, and cancel its runway show in Paris. However, the brand managed to survive the crisis with the help of its private equity investor, NEO Investment Partners, which bought a minority stake in the company for £30 million in 2017.
David Belhassen, the founder and managing partner of NEO, said that the business would have reported a positive EBITDA (earnings before interest, taxes, depreciation and amortization) two years ago, had it not been for the lockdowns. He added that in 2022, revenues were up 42% to around £58 million, and that he expects further double-digit growth in 2023.
A Diversified Portfolio of Products
One of the key factors that contributed to the brand’s profitability was its expansion into new product categories and markets. The brand launched its beauty line in 2019, which offers makeup, skincare and fragrance products. The beauty line has been a hit with customers, especially online, where it accounts for more than half of the brand’s e-commerce sales.
The brand also introduced new products such as leather goods, accessories and the VB Body range, which features activewear and loungewear. The brand also expanded its presence in Europe and the Middle East, where it opened new stores and partnered with local retailers.
Victoria Beckham said that she was proud of her achievements and that she had lots of ambitions for the future. “This is just the beginning,” she said. “I have laid down the groundwork for the house, and now the real work can begin.”
A Passion for Fashion and Beauty
Victoria Beckham also shared her thoughts on fashion and beauty in the Vogue France interview. She said that she loved creating clothes that made women feel confident and empowered. She also said that she was inspired by her own personal style and by her husband David, who she called “my muse”.
She also talked about her beauty philosophy and how she wanted to create products that were inclusive, sustainable and cruelty-free. She said that she believed in taking care of one’s skin and enhancing one’s natural beauty with makeup. She also revealed some of her beauty secrets, such as using sunscreen every day, drinking lots of water and getting enough sleep.
Victoria Beckham also expressed her gratitude to her fans and followers for their support and loyalty. She said that she was happy to share her journey with them and to inspire them with her work. She also said that she hoped to continue growing her brand and making a positive impact on the world.
