Victoria Beckham welcomes revenue uptick as turnaround efforts take effect

Victoria Beckham’s namesake fashion and beauty brand posted an uptick in revenue for 2024, marking the company’s fourth consecutive year of revenue growth and reflecting continued turnaround efforts.

In a statement, Sybille Darricarrère Lunel, who was appointed chief executive officer of Victoria Beckham in July, called 2024 a “pivotal year” that was “marked by strategic investment and rightsizing to position the business for long-term, profitable growth”.

The double-digit revenue growth came “despite a challenging market environment”, Lunel noted, “underpinned by strong consumer demand and continued brand momentum across both fashion and beauty”.

Over the period, Victoria Beckham reported a revenue uptick of 26 percent, reflecting an increase from 89.1 million pounds in 2023 to 112.7 million pounds. Sales in direct-to-consumer channels, including the brand’s London flagship store and website, rose 26 percent, representing 62 percent of total net sales.

New CEO takes position as department store expansion rolls out

The company also saw a growth in EBITDA, which was up 22 percent on the year prior to 2.2 million pounds. EBITDA excluding the brand’s fragrance business, which launched at the end of 2023, was up 47 percent year-on-year.

The fashion business and all three pillars of Victoria Beckham’s beauty division were cited as drivers for the performance. In fashion, the brand reported an uptick in footfall at its London store and website during the period, bolstered by the relaunch of its denim offering and an expansion of its leather goods category. In beauty, meanwhile, expansion in the “skincare-backed complexion category” is forecast to represent more than 20 percent of total sales by the end of 2025.

Such initiatives, alongside improvements to in-house functions, are expected to help the company continue growing its profitability within the current financial year. Plans to open in more department stores across the UK and France are also anticipated to contribute.

Looking ahead, board director and founder of NEO Investment Partners, David Belhassen, said: “The brand’s increased desirability is a testament to the strength of our vision, the power of Victoria’s iconic image and style, and the dedication of our team. With a strong new leadership team, a clear strategic roadmap, and accelerating momentum across both fashion and beauty, the future for Victoria Beckham is incredibly exciting as we continue in 2025 and beyond."