You may have noticed a new designer label popping up on the fashion scene. There’s something distinctly Victoria Beckham about each piece, whether it’s a sweatshirt or a pair of sunglasses.
But you might be wondering, who is this designer? Meet her: Victoria Beckham. In the fashion industry, she is known for creating pieces with a distinctively modern aesthetic and incorporating classic pieces into her designs. From her label to her accessories brand, Becks x Victoria Secret, the British fashion designer has quite the empire. Here’s all you need to know about the designer’s career as well as her fashion business.
Victoria Beckham’s Fashion Empire
Victoria Beckham’s fashion label has been at the forefront of fashion for the past decade. The brand has a worldwide presence, with flagship stores in London, New York, and Dubai. It also has an atelier in Paris and offices in London and New York. As well as its activewear collaboration with Reebok, the brand also has eyewear collections from sunglass label Giorgio Armani Eyewear and a makeup collection from beauty brand Estée Lauder.
Victoria Beckham launched her fashion label in 2008 with a vision to create fashion that is modern, distinctive, functional and affordable. Her company’s creative direction is inspired by music, art, fashion, and culture. The brand’s ethos revolves around innovation, quality and sustainability.
The fashion label has experienced losses of £66 million since its inception. In 2012-13, it reported a loss of £20 million on sales of £308 million. However, this hasn’t deterred Victoria Beckham from sticking to her vision of creating fashion that reflects individualism and creativity.
From Catwalk to Businesswoman
Victoria Beckham is a fashion designer, entrepreneur, and former singer of the Spice Girls. She is known for her fashion label ‘Victoria Beckham’ and her eponymous fashion line. In 2008, she launched her brand as an aspirational fashion statement. However, in 2011, Victoria decided to take the fashion industry by a different route with her lower-priced diffusion line ‘Victoria Beckham Fashion’. In 2017, she canceled her catwalk show due to it being deemed ‘not appropriate’. That year, she also cut staff at her fashion label in order to go ‘back to basics and focus on creating quality fashion.
Through her fashion empire, Victoria has become an internationally recognized style icon. She has won numerous fashion awards for her designs and has been nominated for several other accolades as well. Her collaboration with the Spice Girls helped launch her label into international fame and popularity.
In 2020, Victoria has ambitious plans for her business. She intends to launch two new fashion lines-one for women aged 18 to 25 and another for younger girls aged 6 to 12 and expand into China, Japan, Canada, and the Middle East. More importantly, she wants to create jobs in the Indian subcontinent through this venture. Through this business venture, she hopes to empower women globally and give them a chance to reach their fullest potential.
Beckham’s business model
Victoria Beckham’s fashion brand, Victoria Beckham Holdings Ltd has seen significant growth over the years. The company reportedly has debts of £ 66.3 million since its launch in 2008. However, the directors of the firm, including Victoria and David Beckham, have not been paid a dividend since the launch of the firm.
According to reports, the company made losses of £ 5.9 million in 2018, down from £ 8.6 million in 2017. The company’s financials are still not favorable though with losses of £ 7.2 million reported in 2020, compared to £ 5.8 million in 2019 and £ 4.9 million in 2017.
As per reports, Victoria Beckham Holdings Ltd was launched in 2008 and has seen steady growth over the years. But due to various factors like high start-up funding costs and product pricing issues, the brand is struggling financially at present time.
How Victoria Beckham became a fashion icon
Victoria Beckham is a fashion icon and fashion designer. Starting her eponymous luxury brand in 2008, the collection of dresses are dedicated to quality, cut, and fit. As a fashion designer, she has received awards such as the “Best Designer Brand” at the British Fashion Awards, the “Brand of the Year” award at the Harper’s Bazaar British Fashion Awards, and an OBE for her contribution to the fashion industry.
Before launching her fashion label, Victoria Beckham expanded her brand from ready-to-wear to eyewear, leather goods, a makeup collaboration with Estée Lauder, and an active-wear collaboration with Reebok. Her success can be attributed to her ability to create fashionable and wearable pieces that women want to wear.
Having said that, it doesn’t hurt that she is gorgeous too!
Future of Victoria Beckham’s fashion business
The financials of Victoria Beckham Limited are quite interesting to analyze. The brand has emerged as a household name and has made a mark for itself in the fashion industry. It’s a profitable business with estimated losses of £66.3 million since its inception in 2008. But the brand’s profits have reportedly doubled after the repositioning in 2021.
The fashion house is facing mounting debts and losses due to investments in new projects, partnerships, and other expenditures. Its investors continue to support and invest in the business for growth. As of now, the brand’s shareholders have exposure to equity of £53.9 million, which is a concern for them as well.
Apart from all this, there have been reports of significant doubt over the survival of the brand’s business model given the drop in online retail sales and other factors affecting fashion retailers across the world. Although Victoria Beckham Limited has seen some setbacks, it’s still one of the most promising fashion brands on the horizon.
Conclusion
Victoria Beckham is a fashion icon. She’s the definition of timeless fashion dressing with an edge. From designing and launching her label, to collaborating with designers like Alexander McQueen and Ralph and Russo, she’s not only made a name for herself in fashion but also paved the way for more women to follow suit. Her brand has become synonymous with creativity, innovation, and quality. Comment below if you’re inspired by her story and want to learn how to start your own fashion brand!
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