Victoria Beckham losses shrink as sales begin to rise

Victoria Beckham’s fashion house appears to be continuing to make a loss, but new accounts filed at Companies House are said to be showing signs of rectification for the 14-year-old brand.

According to This is Money, Beckham Brand Holdings, the umbrella company for the fashion and beauty label, revealed in its accounts that profits had hit 19.1 million pounds for FY21, up from 11.6 million pounds a year earlier.

The publication said much of this was supported by DB Ventures, David Beckham’s brand, which saw a turnover increase from 11.4 million pounds to 34 million pounds.

Meanwhile, the Victoria Beckham label finally saw a bit a respite, after continuing to report a loss over the course of nine years.

Her arm saw losses fall from 8.7 million to 5.9 million pounds, with sales rising 13 percent to 40.9 million pounds.

It comes as Victoria Beckham Holdings announced the beginning of a turnaround plan for the brand in 2021, through which it has merged two fashion lines under one label and reorganised its production process.

In a statement to the media outlet, chief executive Marie Leblanc credited the brand’s launch of leather goods and the acceleration of its newly launched beauty offering as the cause of its results.

Leblanc added that the company is expecting 2022 to be a stronger year, as it looks to focus on accelerating growth and “taking the brand to its full potential”.

Ultimately, Beckham Brand Holdings paid a total dividend of 6.3 million pounds over 2021 to the Beckhams, plus another 1.8 million pounds after the year ended.