Victoria Beckham’s fashion label spent more than a decade losing money. Now, it’s finally turning a profit — and aiming to outdo the celebrity behind it. “I’m very proud, after 20 years, to be able to sit here in this current climate and say our business is doing extremely 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.”
The turnaround marks a remarkable turnaround for a company that once seemed like just another famously struggling venture. Beckham, 52, first rose to fame in the 1990s as a member of the Spice Girls and later became one half of a global power couple with the football star David Beckham. In 2008, she launched her own eponymous fashion label.
For the first 14 years, the business operated in the red. About five years agois said to have committed about $68 million in debtt and was burdened by excessive expenses. At one point, she was spending £70,000 ($94,000) a year on decorative office plants alone. The observation was reinforced by Beckham’s fame, which she called a “double-edged sword” for her business. “When my business was struggling because my name was on the label, that story was on all the front pages,” she said.
Part of the change came from a change in the way she runs the company. Beckham described himself as a “reformed control freak” who once insisted on overseeing every detail. “Learning to delegate was difficult for me at first because I wanted to do everything – but I’ve learned.”
A more diversified business has also helped. In 2019, Beckham launched a beauty line, which has since become a major growth driver. The company turned a profit in 2022 and is projected to generate around $170 million in the current fiscal year.
At the same time, Beckham has expanded the reach of her brand. An upcoming collaboration with Gap will feature 38 pieces priced between $34 and $328 — well below the four-figure prices typical of its mainline fashion line.
Despite the renewed momentum, questions remain about the company’s long-term future. Reports emerged in November that Beckham was exploring a sale of her fashion and beauty business. She downplayed the idea. “I’m focused on building the brand,” she said, leaving the door open for future opportunities: “I never say never.”
For now, Beckham is focused on proving her label can endure beyond its celebrity origins. “This has never been a waste project,” she said. “What I’m doing is building a legacy.”
