After 13 years of heavy losses, Victoria Beckham’s fashion business finally turned in a more prosperous direction.
In an exclusive interview with Women’s Wear Daily in early March, David Belhassen – founder of NEO Investment Partners and investor for Victoria Beckham – revealed the fashion business of the last former Spice Girls member. also profitable after 13 years of losses. Specifically, revenue increased 42% to £58 million (VND 1,676 billion) in the financial year 2022. Mr. Belhassen added that had it not been affected by COVID-19 resulting in store closures, the brand could have reported positive EBITDA from two years ago.
Investors use the word “healthy” to describe the business of Victoria Beckham’s brand with a bank debt of £3.2 million (VND 92 billion), mainly working capital. He predicted future growth could reach double digits, surprising critics.
Daily Mail evaluates this as a rare bright spot in VB’s activities after more than a decade of continuous thanks to her husband to compensate for losses. Worth mentioning, this achievement was not achieved by selling clothes.
The key to the celebrity mother of four’s victory lies in her diversification of accessories – especially her signature Chain Pouch handbags – and makeup line. Other best-selling items include the Frame Buckle belt (190 pounds ~ nearly 5.5 million dong) and the distinctive Shield sunglasses (£300 ~ 8.66 million dong), made by Mrs. Beckham herself. advertising models.
Sources at the company confirm that the new chain-strap bag, priced from £650, has become a sought-after item for luxury fashionistas. It sold out after debuting at Victoria’s Spring/Summer 2023 show in Paris in September 2022 and currently has a long pre-order list.
Realizing a good signal, Victoria offers part-time jobs in 3 different sizes. The largest model, priced at £1,290 (VND 37 million), is already sold out in a number of colors despite only appearing on the website.
Moreover, after entering the competitive beauty world, Posh (stage name in Spice Girls) has won the hearts of fans with Satin Kajal eyeliner (£26 ~ VND 751,000). This product sells well in most colors and is on track to reach the top.
That’s a complete change from a few years ago. Website brand Victoria Beckham, based in Hammersmith, West London, has not made a profit since its launch in 2008. In 2021, the company suffers a loss of £5.8 million ($167 billion). , down from £8.6 million (VND 248 billion) in 2020. At that time, the auditor said the company was facing a crisis and needed support from shareholders.
According to sources familiar with the matter, the company has undergone a comprehensive reorganization. Thanks to Victoria’s persistence, the brand has finally tasted the “sweet fruit”.
In 2017, NEO “pumped” an investment of £ 30 million (VND 867 billion) for VB. David Belhassen now expects the brand to generate more than £100 million in revenue over the next few years, half of which will come from the beauty and skin care business. ”Victoria is amazing. Burn up and face all challenges,” Mr. Belhassen praised.
