Home / Articles / Victoria Beckham nets £30m expansion cash

Victoria Beckham nets £30m expansion cash


Victoria Beckham’s luxury fashion brand has secured a £30m investment to help fund its expansion.

Victoria Beckham Limited (VBL) said London-based NEO Investment Partners had acquired shares in return for its cash.

The former Spice Girl, who launched the company in 2008 to some scepticism, is its creative director and now employs 180 people.
Her designs have received critical acclaim and they sell through 400 stockists in more than 50 countries – with a wholly-owned flagship store in London and another in Hong Kong.

Image: David and Brooklyn Beckham attend the Victoria Beckham Spring/Summer 2018 collection presentation
The business had a turnover of £36m in 2016.
:: Victoria Beckham gets OBE for ‘fashion success’

VBL said the partnership with NEO would “enhance both its digital and physical retail presence, drive growth in core categories and will allow it to launch into new categories and collaborations.”
She added: “Partnership and collaboration is incredibly important to me – working with an amazing team has been the root of the success of my business over the past ten years.
“NEO is the perfect partner to now accompany us on the next step of our journey: they understand my vision and my wish for the company to retain its independence, as well as my commitment to continuing to develop the brand with a unique, forward thinking approach.”
VBL is part of Beckham Brand Holdings – owned equally by Victoria Beckham, David Beckham and the company owned by their manager Simon Fuller – XIX Entertainment.
The former football star said: “I am so proud of Victoria’s success and all of the hard work that has gone into building the business over the past ten years. I am sure the next decade will be even more exciting.”

Source: Sky

About Business Ideas UK

My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups. I am an author of various websites including Franchise UK https://www.franchise-uk.co.uk

Check Also

Persimmon chairman quits over bonus backlash

It’s pretty rare to see a company chairman resign when something goes wrong in …

Free Franchise Guide

Free Franchising Guide

 

Interested in buying a franchise? The our FREE Franchise Guide is a must! The guide contains lots of information to help you decide if franchising is right for you.

 

To claim your Free Franchise Guide click here