LONDON – Victoria Beckham Holdings revenue rose 17 percent to £ 42.5 million in fiscal 2017, with operating losses increasing to £ 10.2 million from £ 8.2 million a year earlier.
This week the company is due to file its annual income statement with Companies House, the official register of UK businesses, and has lifted the veil on some of the numbers it plans to release.
VBH said that in a difficult trading environment in 2018, it invested in future growth and built its leadership team, with Paolo Riva as chief executive officer and Ralph Toledano as chairman. Shareholders said they are determined to cut the 2017 loss and expect to break even in the medium term.
The company said sales grew in 2017 across its core categories, including premier ready-to-wear label Victoria Beckham, its sister collection Victoria, Victoria Beckham, and accessories and eyewear, both online and in-store.
In 2017 Victoria Beckham brought a limited designer collection for Target Corp. on the market, where 150 models were sold out within a few hours. The company also brought Estée Lauder Cos in September 2017. Inc. launched a second makeup collection. In November, the brand signed a long-term licensing partnership with Reebok that reflects Victoria’s lifestyle ambitions and brings the brand to a wider global audience.
As reported last December, the company raised £ 30 million from NEO Investment Partners. Part of the long-term strategy with the new shareholders is not only to promote growth but also to rationalize costs in order to make the company profitable again.
In September 2018 Victoria Beckham Ltd. celebrated their 10th anniversary with their first London Fashion Week show, which featured the Spring 2019 collection. The company also announced a long-term global license agreement for its eyewear category with Marchon.
“I was excited about what I did at Victoria Beckham Ltd. since joining the company. It has a strong, unique brand with a great team and great international potential, ”said Riva. “We will continue to invest in growth markets such as the USA and Asia and at the same time pay attention to the right strategy in order to secure profitability in the medium term.”