VICTORIA BECKHAM’S FASHION GROUP REPORTS REDUCED ANNUAL LOSSES AMID SIGNIFICANT SALES GROWTH
THE WHAT? Victoria Beckham’s luxury fashion and beauty group has reported a significant narrowing of its losses, with annual revenue rising over 50% in 2023, defying a broader luxury sector slowdown.
THE DETAILS The company, Victoria Beckham Holdings Limited, announced that its pre-tax loss fell to £2.9 million in 2023, down from £3.1 million the previous year. Revenues soared to £89.1 million, marking the third consecutive year of double-digit growth. The brand also reported a positive adjusted EBITDA of £1.8 million, a notable increase from £200,000 in 2022. Despite its improved performance, the company has relied on shareholder cash injections, totaling £6.9 million, to support inventory investment and working capital needs. The business has been restructured under the leadership of CEO Marie Leblanc, merging its luxury and contemporary lines, cutting jobs, and streamlining production.
THE WHY? This financial turnaround reflects the brand’s successful repositioning and a strong consumer base, bolstered by its presence at Paris Fashion Week and expanded product offerings, including leather goods and perfumes. The group aims to reach £100 million in revenue within the next three years, underscoring its ambition to establish Victoria Beckham as a global luxury house.
