Victoria Beckham Limited gets investments from NEO
Courtesy: Victoria Beckham
Victoria Beckham Limited, the luxury fashion brand, is strengthening its position with NEO Investment Partners, a private investment firm specialising in luxury brands, investing in VBL. This will enable Victoria Beckham to enhance its digital and physical retail presence, drive growth in core categories and launch into new categories and collaborations.
The company will move to new West London premises in Spring 2018.
Victoria Beckham, founder and creative director, said: "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. I am hugely excited to be working with NEO."
Founded in 2008 by Victoria Beckham, the company has received international plaudits and now comprises the ready-to-wear mainline Victoria Beckham, a sister line, Victoria, Victoria Beckham, accessories, footwear and eyewear. Based in London since its inception, Victoria Beckham Limited has been entirely independent and is part of Beckham Brand Holdings, owned equally by Victoria Beckham, David Beckham and Simon Fuller's XIX Entertainment. During that time, Victoria Beckham Limited has grown from a staff of three to now employ 180 people worldwide. The design team is based in two ateliers in London and the majority of Victoria Beckham's ready-to-wear line is manufactured in the UK.
Following the success of the e-commerce launch in 2013, the company opened its first flagship bricks and mortar store in 2014 in London, in collaboration with the architect Farshid Moussavi. The first Asian store opened in Hong Kong in 2016, in partnership with the Joyce Lane Crawford group. Through the website and stores, the brand now retails through 400 stockists and in more than 50 countries.
In 2016, in recognition of the brand's profile and appeal, a limited-edition collaboration with US retailer Target was launched for women and children. Victoria Beckham also launched a capsule collection of make-up with Estée Lauder, which sold out worldwide. The second capsule launched in autumn 2017. In November 2017, Victoria Beckham announced a major collaboration with global fitness and lifestyle brand Reebok.
Global revenues for the year ending December 2016 were £36 million and first half 2017 revenues indicate double-digit growth on the year.
David Beckham, shareholder, Beckham Brand Holdings, 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."
Simon Fuller, shareholder, Beckham Brand Holdings, commented: "This is a hugely positive time for Victoria Beckham. The continued growth and potential has never been so dynamic. This partnership with NEO will enhance our immediate plans and allow us to expand across all areas of the company with new categories and stronger retail and digital presence. 2018 promises to be the most exciting year yet with the tenth anniversary celebrations and a move into new premises."
"Victoria Beckham is one of the most exciting entrepreneurs I have the pleasure to work with. She is an inspiration to millions of women around the world and she has built a unique, differentiated luxury brand with a strong identity and very high potential. I am delighted to be working with her and her team to reach the brand's full potential," commented David Belhassen, founder and managing partner, NEO Investment Partners. (SV)
Fibre2Fashion News Desk – India