Leathergoods drive Victoria Beckham's financial reco - leatherbiz: Lea Leatherbiz

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Leathergoods drive Victoria Beckham's financial recovery

29/08/2024
Leathergoods drive Victoria Beckham's financial recovery
Victoria Beckham's fashion and beauty business has reported a notable financial improvement, with sales increasing by 52% to £89 million ($117 million) in 2023. This growth helped the brand reduce its losses to £200,000 ($264,000), down from £900,000 ($1.2 million) the previous year.

A key factor in this improvement has been the brand's expansion into leathergoods, introduced in 2022. The category, particularly belts, saw significant demand, with sales growing thirteen-fold year on year.

The introduction of leathergoods, along with continued growth in the beauty sector, contributed to the brand's stronger financial performance. This expansion comes after a £6.9 million ($9 million) investment from Victoria and David Beckham, as well as the private equity group NEO, aimed at stabilising the business.

Marie Leblanc, CEO of Victoria Beckham Ltd, highlighted the progress made in 2023 as the company continues to position itself as a global luxury brand.


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