Advertisement:
Ohmygossip.com / Ohmygossip Couture / Celebrity Birthdays / Celebrity Deaths / Celebrity Baby News / Celebrity vacations / Reality TV news / Millionaires / Celebirty Travel News
NordenBladet.com / Society & Business / Travel & Culture / Home & Kids / Health & Spirituality / Helena-Reet Ennet´s blog / Daily news from Scandinavia / Royals / Climate crises
OHMYGOSSIP

Victoria Beckham’s fashion label suffers £12.3m loss last year

OHMYGOSSIP — Victoria Beckham’s fashion label suffered losses of £12.3 million last year.
The designer’s own company – Victoria Beckham Ltd – hasn’t made a profit since forming in 2008, and the brand revealed losses grew 20% for the year up to December 2018 as demand for the high-end clothes “plateaued”.
Chairman Ralph Toledando told trade publication Business of Fashion: “The performance was in line with expectations, so we were not surprised. Our goal is to reach profitability as soon as possible.
“I firmly believe that our destiny is in our hands. We have a great talent in Victoria and, if you take that asset with a dream team, we can do it.”
He explained that sales had stagnated last in 2018 after years of growth.
The company – which is controlled by Victoria and her husband David Beckham through Beckham Brand Holdings – says the performance was in line with shareholders expectations.
In the Companies House accounts, the business said this came after “cutting costs, focusing on its digital channels and refining the product to more closely reflect Victoria Beckham’s aesthetics and values”.
Wholesale revenues are said to have grown by double digits in the UK, but “current challenges” in the market meant a decline internationally – although certain segments of the business have seen sale increases alongside “significantly reduced” losses.
It’s thought the brand can become profitable in the fourth quarter of the year, while the firm has an increased wholesale order book for next year.

Source: VacationHunter.Online
Find us also on Twitter @OHMYGOSSIP




Advertisement:





High quality & nature friendly luxury cosmetics from Scandinavia - ElishevaShoshana.com

Copyright © NordenBladet 2008-2023 All Rights Reserved.
Scandinavian / Nordic news and info in English.
Nordic News Service & Link Directory