Complementing their careers with a dive into the fashion and beauty world has always been a thing for music stars. Rihanna’s Fenty, Selena’s Rare Beauty, Kanye’s Yeezy and Victoria’s Victoria Beckham are only a few in the long line of music superstars turned fashion entrepreneurs. Beckham’s transition into the fashion world has been quite the experience – a remarkable journey, which reveals the stylist’s determination and resilience in the face of most unusual circumstances. The eponymous fashion label, Victoria Beckham, which primarily focuses on high-end women’s clothing and accessories was launched in 2008. Despite the positive attention and critical acclaim that the brand received for its designs, it’s quite interesting that the infamous history of losses is still yet to be remedied. As tales of rising profits for the fashion empire emerge, here’s your chance to enjoy all the tea about the business venture’s expansion and fails through the years.
Who Is Victoria Beckham
Born on April 17, 1974, Victoria Caroline Adams Beckham, who is widely known as Victoria Beckham or “Posh Spice,” is the first of three siblings, birthed by Anthony Williams and Jacqueline Doreen, with both parents playing significant roles in supporting her ambitions right from a young age. Having displayed a passion for the arts, particularly musical films, it was quite easy for them to foster her budding talent by enrolling her at Jason Theatre School, from where she moved on to Laine Theater Arts, located in Surrey, reflecting her commitment to the craft. Honing her skills in dance and modelling, Beckham quickly set the stage for her future in the spotlight, further igniting her desire to pursue an entertainment career. While her time at Laine Theatre Arts was instrumental in shaping her artistic abilities, it was merely the beginning of her remarkable journey.
As a result of her evolving aspirations, the young Caroline eventually ventured into the world of music as a member of the band “Persuasion,” before her journey took a significant turn when she became a part of the iconic girl group “Spice Girls.” which achieved international fame and left an indelible mark on the music industry in the 1990s.
After the Spice Girls disbanded, Victoria didn’t abandon her music career, influencing the release of her self-titled debut album, Victoria Beckham in 2001. However, when the “Spice Girls” tour made a comeback in 2007, she chose to take part, viewing it as a chance to show her children that “mummy was a pop star” and to enjoy an exciting time with her old friends before resuming her fashion business.
Personal Life
Beyond her music career, the 48-year-old fashion designer had her life take a noteworthy turn when she married the famous English footballer David Beckham in 1999. Their high-profile relationship and marriage not only made them a prominent celebrity couple but also solidified their status as style icons. The power couple has since had a family together and continued to be influential figures in the worlds of entertainment, fashion, and sports. In 2008 she made an official transition into the fashion and design world. She established herself as a successful fashion designer, launching her brand and becoming a prominent figure in the fashion industry.
Story Behind The Brand
While she gained more fame as the face and model for various brands like Dolce & Gabbana, Rock and Republic and Marc Jacobs in the late 2000s, the upcoming designer had earlier made her debut appearance on the catwalk for Maria Grachvogel during London Fashion Week in 2000.
Finally, in 2008, in a very modest event attended by a small group of people and the press, she made her official foray into the fashion world by launching her own fashion line, with her first collection of ready-to-wear dresses, Being an endeavor which came off as a surprise, given her earlier ‘tacky’ style, the industry elites were amazed at her dedication and ability to provide a very detailed explanation of her fashion brand, speaking just like a true fashionista, detailing the type of materials used and the reasons behind each piece.
Despite her efforts to prove she’s worth being in the fashion world, the then-new kid on the block had a lot to prove, as there was scepticism among industry experts about her transition into the fashion sector. However, in the face of adversity, Beckham never gave up on her vision as she continued to work towards the success of her new business line. About a decade later, the brand would expand into the beauty industry, by launching Victoria Beckham Beauty in 2019. She also expanded her luxury fashion business to Europe and the Middle East, with the annual accounts saying the brand was also expanding into new products, with the launch of leather goods and the VB Body range, a conglomeration of what we have as Victoria Beckham Holding Company. Alongside her equally famous and successful husband David Beckham brand, the couple co-own a string of businesses under the family’s name, Beckham Brand Holdings and are ultimate shareholders.
Losses, Rising Profit and Current State of the Victoria Beckham Brand
You wouldn’t think about Victoria Beckham’s name and not naturally associate it with fame, money and style. However, another disconcerting but interesting brand about the influential fashion empire is that there has not been a record of significant profit since it was launched in 2008. Despite her big losses, David and Victoria Beckham’s global empire saw double-digit sales growth. According to the annual accounts report submitted to Companies House in London, the couple generated over £11.5 million total revenues in the financial year end in December 2020, even amid the pandemic, a steep rise, compared to the £4.5 million they earned in the previous year. However, the fashion empire as a separate entity started experiencing more operating losses in 2018.
While giving annual accounts audits, it was revealed that the 2018 overall losses were over £12 million. Unfortunately for Victoria Beckham Holdings Ltd, that was not the end of the unfavorable financial years, as the business reportedly recorded more losses the following year. However, 15 years into the business, Victoria’s fashion empire finally has hopes of finally turning in a profit for the first time, with new customers and friends of the star coming in. This is happening after accumulating overall losses and significant reduction of £66.3m over a decade and a half, Speaking in recent news about the latest accounts of the empire, the Former spice girl, Victoria Beckham states that “this is just the beginning,” because creating a big fashion fashion is her dream. As she gears up to put in more hard work celebrate bigger feats and another significant step in her business, we’re all out for it.