Although the company has recorded a loss every year since its inception in 2008, performance has been improving in recent years, with narrowing loss margins.
Ex-Spice Girl Victoria Beckham has invested millions into her beauty and fashion business, in the 2024 financial year. This is following Victoria Beckham Holdings recording a loss before tax of £2.9m (€3.45m) in 2023, down from £3.1m (€3.69m) in the previous year, according to Financial Times.
However, sales still jumped 52% to £89.1m (€105.95m), up from £58.8m(€69.92m) in the previous year, mainly because of robust performance at the company’s Mayfair store in central London, especially following the brand venturing into beauty and leather goods. Sales carried out through wholesalers also increased.
Online sales were also significantly boosted by perfume collections, with belts also being the fastest-growing category, driven by new lines. One of the most popular products in 2023 was a midi dress selling for £850(€1110.73).
The cash investment, which is worth approximately £6.9m (€8.2m), will be invested across Victoria Beckham’s fashion and beauty divisions and will be provided by her husband David Beckham, herself, and Neo Investment Partners, which is a private equity firm. The company is also part-owned by XIX Management.
