Victoria Beckham’s fashion brand finally makes a profit – 15 years after it launched
VICTORIA Beckham has spoken of her delight that her fashion brand has turned a profit for the first time in 15 years.
VICTORIA Beckham has spoken of her delight that her fashion brand has turned a profit for the first time in 15 years.
The former Spice Girl launched her clothing line in 2008 and has been repeatedly bailed out by husband David, who has pumped in about £30million to keep her afloat.
But Posh, 49, confirmed the business was now on the right track, telling French Vogue: “It’s such an exciting time. This year, we made a profit.
“This is just the beginning. I have lots of ambitions and never wait for things to fall into my lap.
“Making a profit takes time, especially for an independent brand.”
Earlier this year her main backer, David Belhassen, gave the first positive forecast for the company, saying it was expecting to turn a profit when accounts are published next month, with revenue up almost 50 per cent to £58million.
Victoria has seen a surge in sales after pulling in a host of big-name stars, including Kim Kardashian and supermodel Gigi Hadid, to wear her clothes.
The business has also expanded into leather goods and fragrances.
It is a welcome turnaround for Victoria, who has repeatedly filed losses.
In January, accounts showed she had made a loss of £5.8million.
And total losses for the business now stand at just over £66million since its launch.
Auditors even questioned the brand’s future in 2021.
Paperwork filed at the time showed they had “significant doubt” about whether she would be able to continue trading.
Now, Victoria is gearing up for bigger things. She told the mag: “Now that I have laid the foundations, the serious things begin.
“I want the business to develop while remaining authentic — whether it’s fashion, beauty, perfumes…
“There are so many things I want to do.
“I would like to emphasise, as humbly as possible, I have a lot of ambition.
“Creating a big fashion house is my dream.”