Victoria Beckham fashion label suffers losses but future is bright

Victoria Beckham fashion label suffer losses but future is bright

Victoria Beckham fashion label suffers losses but future is bright

Victoria Beckham fashion label suffers losses but future is bright. British fashion designer, Victoria Beckham has seen her own fashion label suffer millions of pounds losses last year.

The Ex Spice Girl who set up her own fashion label back in 2008, saw her company record a €14.3 million euro loss for 2018.The 46-year old designer’s company that she owns with her husband David Beckham is yet to make any profit.

Her company has seen its losses grow by 20% for the year up to December 2018. This is a common trend that lots of luxury fashion brands are experiencing at the moment. Experts put this down to the decline in the market for high end fashion goods.

Chairman of Victoria’s fashion label Ralph Toledando confirmed to commerce magazine, Business of Fashion: “The performance was in line with expectations, so we were not surprised. The goal for our company is to reach profitability as soon as possible.

“I firmly believe that our destiny is in our hands. We have a great talent in Victoria and, if you take that asset with a dream team, we can do it.”

He went on to explain that sales had stalled in the last twelve months after years of growth. Beckham Brand Holdings believe that last year’s performance was in line with the expectation of their shareholders.

Filed in their report to Companies House, Beckham’s company stated that their performance last year was in reducing costs and focusing on their digital channels. The company is also refining their product to more closely reflect Victoria Beckham’s aesthetics and values”.

However, it’s not all doom and gloom for the Beckhams. Revenue for their wholesale business continues to grow .They are closely monitoring the international market place which has seen a decline in business.

More positive news though as certain parts of their business have experienced sales increases. The company believe that the future is bright for the Victoria Beckham label with the introduction of her Victoria Beckham Beauty label.

Their fashion wholesale order book has also seen an increase in orders for this year.

 

Victoria Beckham fashion label suffers losses but future is bright

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