Victoria Beckham is seeing pound signs galore after her fashion business turned a corner.
The Spice Girls icon’s fashion and beauty empire has accumulated losses of over £66million since its launch in 2008.
However, after 15 years, things finally started looking up.
Thanks to items like an £890 clutch bag and makeup products such as £30 eyeliners, the VB brand has started earning money again.
Much of the success can perhaps be attributed to her presence on social media and genius marketing strategies, with her ‘get ready with me’ videos and beauty tutorials forcing products off the shelves like hotcakes as everyone wants to replicate her classic look.
In 2022, her financial accounts showed she was £200,000 in the black, while her high-end label has borrowed over £30million from other parts of the Beckham empire since its launch.
Now, though, Vicky B has plenty of reasons to celebrate.
Speaking in a new interview, the 50-year-old said: ‘It’s a huge accomplishment.’
Victoria continued to Harper’s Bazaar, ahead of receiving their Entrepreneur accolade at the Women of the Year Awards 2024: ‘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…’
Reflecting on building her business up, the fashionista shared what she believes was the product that turned things around.
‘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.’
‘A friend was talking to one of the kids recently, and they said I was a builder. And that’s what I am,’ she declared proudly.
Victoria’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 Victoria saw ‘unprecedented’ demand for her beauty items and fragrances.
Speaking to Vogue France one year ago, the Wannabe hitmaker insisted this was ‘just the beginning’.
She teased that she has ‘lots of ambitions’ and stated that she ‘works hard to achieve [her] goals’.
‘I never wait for things to just fall into my lap,’ Victoria added.
‘It’s such an exciting time. This year, we made a profit! This takes time, especially for an independent brand.’
And it’s not just Victoria who will reap the benefits of her newfound profits, as her daughter also looks set to make millions.
Harper, 13, whom Victoria shares with husband David, may only be in her teens, but she’s already expressed desires to follow in her mother’s fashionable footsteps.
But now, Victoria has incorporated a business called H7B Limited into her own self-titled brand, which The Sun reports is to funnel any future earnings for Harper.
The business lists Posh as a director for the company, titled after Harper’s initials.
It’s been claimed that Harper has already been inundated with offers from big brands wanting to work with her, suggesting the only way really is up for the Beckham clan.
The December/January issue of Harper’s Bazaar UK is on sale from November 6.
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