Driven by robust wholesale, online, and flagship store sales, Victoria Beckham Ltd. achieves significant profit increases and continues its growth momentum into 2024.
Victoria Beckham Ltd. has announced substantial growth for 2023, with a 52% increase in total revenue, reaching £89.1 million. This marks the third consecutive year of double-digit growth for the company, fueled by strong performances across all product categories despite a challenging luxury market. The company’s adjusted EBITDA rose to £1.8 million, a notable improvement from £0.2 million in 2022, while operating losses were reduced to £0.2 million from £0.9 million, reflecting the brand’s efforts to streamline operations and boost profitability.
David Belhassen, founder of NEO Investment Partners, which holds a significant minority stake in the company, praised the brand’s continued growth and improving profitability, emphasizing the team’s focus on maintaining high standards and customer satisfaction. Marie Leblanc, CEO of Victoria Beckham Ltd., highlighted the success of the brand’s direct-to-consumer channels and the strong performance of its leather goods collection, which has become a key growth driver.
Looking ahead, the brand has continued its upward trajectory into 2024, with flourishing direct-to-consumer sales and successful new partnerships, including a limited-edition capsule with Mango and jointly branded watches with Breitling. Additionally, Victoria Beckham Beauty has seen significant growth, expanding its product range and entering new markets.