Victoria Beckham FY sales up 13 percent, losses narrow

Victoria Beckham’s eponymous brand narrowed its losses in 2021 as sales increased across all channels.

The high-end womenswear brand returned to sales growth in the year to December 31 2021, up 13 percent to 40.9 million pounds. That compares to a 6 percent drop the prior year as the business was hit by the pandemic.

The company hailed a “pivotal year” in its most recent filings at Companies House as it repositioned its fashion brand and expanded its beauty brand business globally.

It said it is “adapting its logistics and sourcing models to the ongoing worldwide supply chain challenges”, which “has allowed it to absorb the longer lead times whilst keeping price points stable”.

Victoria Beckham narrowed its loss to 5.9 million pounds from 8.6 million pounds a year earlier.

Meanwhile, it managed to more than halve its EBITDA loss to 2 million pounds from a loss of 5.2 million pounds a year earlier.

International expansion

The company said it is accelerating the global expansion of its fashion business with new customers in Europe and Middle East, and has also expanded into new product categories with the launch of leather goods and the VB Body line in 2022.

During the year, the company merged its Victoria and Victoria Beckham brands into one line, which it said led to double-digit growth in three consecutive wholesale fashion campaigns.

The company also expanded its Victoria Beckham Beauty business globally during the year, opening a UK warehouse, debuting in New York department store Bergdorf Goodman, and adding Australian and Canadian storefronts for its online website.