Former Spice Girls member, Victoria Beckham, said she made two big changes to reduce the losses at her namesake fashion company.
“We bought our price point down, and we merged the two brands that we had at the time into one,” Beckham told Bloomberg in an interview published Wednesday. “I wanted to challenge myself and my teams to create collections that didn’t feel like a compromise.”
“They felt very considered, perfectly executed, using really great fabrics. But how could we do that at an affordable luxury price point? And it wasn’t easy,” Beckham continued.
When asked if the company would be affected by President Donald Trump’s tariffs, Beckham told Bloomberg that, for now, it would be “monitoring the situation very closely.”
Launched in 2008, Victoria Beckham Holdings Limited is owned by Beckham, her husband, David Beckham, Simon Fuller’s XIX Management, and private equity firm NEO Investment Partners.
The company has offices in London and New York. Its flagship store is located on Dover Street in Mayfair, London. The brand’s products are in 230 stores across 50 countries, per the company’s website.
Victoria Beckham Holdings Limited has seen major losses in the millions of dollars. However, its losses have shrunk in recent years. The company’s loss before tax dropped from 3.1 million pounds in 2022 to 2.9 million pounds in 2023. The company has not reported its earnings for 2024.
In an interview published in January 2024, Beckham told the Financial Times that she had to work with the company’s then-CEO, Marie Leblanc, to restructure the business.
“A case of lifting up the car bonnet and dealing with everything,” Beckham said. “Not the — shall we say — most exciting topics of conversation for the creatives. But finance, logistics, that side of things all had to be restructured.”
Leblanc left Victoria Beckham Holdings Limited in October, and the company’s chairman, Ralph Toledano, replaced her as interim CEO. In April, the company announced that it had appointed former Dior executive Sybille Darricarrère Lunel as its CEO.
A representative for Beckham did not respond to a request for comment from Business Insider.
