Victoria Beckham said she is “so proud” seeing a financial turnaround in her fashion business, which has now turned a profit 17 years after its launch.
Since debuting her fashion and beauty line in 2008, the former Spice Girl’s brand has accumulated losses exceeding £66 million.
However, recent years have shown a positive shift, partly due to high-end items, her collaboration with high street retailer Mango and popular makeup products, including £30 eyeliners.
Her success is largely credited to her strong social media presence and smart marketing tactics.
Beckham’s “get ready with me” videos and beauty tutorials have created high demand, with fans eager to replicate her signature style.
In 2022, the business showed a profit of £200,000, while her luxury label has also received more than £30million in support from other areas of the Beckham family enterprise since its inception.
Speaking in a new interview with Harper’s Bazaar, ahead of receiving their Entrepreneur accolade at the Women of the Year Awards 2024, the 50-year-old said: “It’s a huge accomplishment.’
“The company has been through so much over the last 17 years – ups, downs, restructuring… it’s been quite the journey. So, finally, to be able to say we’re profitable is something I’m so proud of, because it’s not an easy industry, and it’s getting harder and harder.
‘To be able to say that I’m selling clothes right now, when you look at how luxury is struggling…’
The fashion star went on to reflect that it was her fragrance that turned things around at the British fashion house.
She added: “When I think about the past 17 years… I mean, there was a point when this brand was all fires, and every day we were putting them out.
“But when I created the fragrance, that’s when I believe that we turned from a brand into a house.
“I’ve spent years building the damn foundations. Now I can start really building the house.”
She said proudly: “A friend was talking to one of the kids recently, and they said I was a builder. And that’s what I am.”
Beckham’s business began climbing two years ago when revenue soared by 44% £58.8million, compared with £40.9million in 2021.
This growth continued throughout 2023 as she saw “unprecedented” demand for her beauty items and fragrances.
The December/January issue of Harper’s Bazaar UK is on sale from November 6
