Victoria Beckham’s brand had a turnover of $116.88 million thanks to a viral dress

The dress launched in last year’s spring-summer collection represented one in ten online sales. Victoria Beckham Ltd, the fashion and beauty company founded by the pop star, reported that its revenue rose to 89.1 million pounds (US$116.88 million), thus showing a growth of 52% compared to the previous year. Meanwhile, operating losses narrowed to just 0.2 million pounds in 2023 from 0.9 million pounds the previous year. The company reported “strategic progress” in both fashion and beauty, marking a third consecutive year of double-digit revenue growth. Find out more The repositioning of the fashion brand continued during the year “with substantial sales growth in its three channels”: wholesale, online and in its flagship store in Mayfair, London. Among the best-selling products in 2023 is the midi dress with gathered waist, which even accounted for one in ten online sales and remains a success. This highly coveted garment was launched at last year’s spring-summer show and immediately became the best-seller of the season.

Victoria Beckham wears the viral dress from her collection in a lime green color. The company also saw a 13% year-over-year increase in sales of leather belts. Victoria Beckham’s leather goods line, launched in 2022, now accounts for 20% of all sales. The beauty sector was also strong, with an increase in revenue thanks to the expansion of the portfolio in the eye products category, with new shades and items, while debuting in the eyebrows category and launching into the competitive contouring market with Contour Stylus. In this context, Marie LeBlanc, CEO of Victoria Beckham since 2019, explained that 2023 was “another very solid year of progress for the company.” The fashion and cosmetics company seeks to establish itself as a luxury company on a global scale while building a loyal consumer base thanks to the shows at Paris Fashion Week. The brand also plans to promote its presence and sales through new collaborations, such as the latest with the Catalan fashion distribution group, Mango. The Victoria Beckham x Mango collection showed positive performance across direct-to-consumer and leather goods channels. In addition, Victoria Beckham is working with Netflix to create a documentary that will address the businesswoman’s role as a fashion designer. Meanwhile, David Belhassen, founder of NEO Investment Partners, the company’s investment fund partner, added: “In the context of a difficult environment, the Victoria Beckham group has maintained its very high growth with an increase in income of more than 50% year-on-year in 2023, with an improvement in Ebitda profitability. The team is working hard to continue building the VB ‘maison’ on increasingly solid foundations. “The priority remains the development of products with the highest standards to offer our community total satisfaction.”