Victoria Beckham’s fashion brand has spent more than a decade losing money. Now the company is finally making money, and aims to outshine the celebrities behind it. “I’m very proud, after 20 years, to be able to sit here in this current climate and say that our business is doing very well,” Beckham said at the Time100 Summit in New York today (April 22), noting that her brand is seeing double-digit revenue growth. “To be able to say that as an independent brand in this industry is really incredible.”
This transformation represents a stunning turnaround for a company that once seemed like just another struggling celebrity venture. Beckham, 52, first rose to fame in the 1990s as a member of the Spice Girls, and later became half of an international power duo with soccer star David Beckham. In 2008, she launched her eponymous fashion brand.
For the first 14 years, the company operated in the red. About five years agoit was reported About $68 million in debtt and was burdened with excessive spending. At one point, she was spending £70,000 ($94,000) a year on office plants alone. The scrutiny has been amplified by Beckham’s fame, which she described as a “double-edged sword” for her work. “When my business was suffering, because my name was on the poster, that story was all over the front pages of the newspapers,” she said.
Part of the transformation came from a shift in how she ran the company. Beckham described herself as a “control freak” and once insisted on supervising every detail. “Learning to delegate was difficult for me at first, because I wanted to do everything, but I learned.”
Having a more diverse business has also helped. In 2019, Beckham launched a beauty line, which has since become a major driver of growth. The company achieved profits in 2022 and is expected to generate about $170 million in its current fiscal year.
At the same time, Beckham expanded her brand. The upcoming collaboration with Gap will include 38 pieces priced between $34 and $328, which is well below the four-figure prices typical of its core fashion line.
Despite the renewed momentum, questions remain about the company’s long-term future. Reports emerged in November that Beckham She was exploring selling her fashion and beauty business. I underestimated the importance of the idea. “I’m focused on building the brand,” she said, while leaving the door open to future opportunities: “I never say never.”
For now, Beckham is focused on proving that her brand can last beyond its famous origins. “This was not a trivial project at all,” she said. “What I’m doing is building a legacy.”
