Victoria Beckham’s Fashion Line Incurs Annual Loss Of £12.3 Million (Photo Credit: Instagram)
One of the most affluent and eminent fashion labels by a former spice girl, Victoria Beckham has incurred a massive loss. It has been reported that her label has incurred loss of £12.3 million this year alone as the demand of her clothes, "plateaued".
The star launched her Victoria Beckham Limited label back in 2008, however, the past years have seen a drop in demand for £2,000 dresses and £1,000 bags. The label hasn't made a single profit since the inception of her company Last year, the company took another loss of £10million for the year to December 2017, which had grown from losses £8.2million in 2016. Given the weaker wholesale demand, sales have slipped by 16%
The company's chairman, Ralph Toledano stated that their aim is to reach profitability mark as soon as possible, however, they consider their performance in line with expectations, and so are not surprised
Victoria Beckham has often been praised for the quality and design of her work. However, financially they are still looking at breaking even. Earlier this year she also went on to say that this is "not a vanity project".
The fashion label now sells fashion and accessories in more than 400 stores around the World.
In September Victoria launched her own beauty line emulating celebs like Rihanna, Kylie Jenner. The Spice Girls star announced the news on her Instagram page, sharing a link to her shiny new social media account. Alongside a promo clip, she told her 26.7 million followers: ‘So excited to finally share @victoriabeckhambeauty with you all this Saturday!! xxxx VB.’ ‘In fashion, it’s what do I want in my wardrobe,’ the 45-year-old said in a voiceover. ‘But in beauty, it’s what do I want in my make-up bag? What do I believe my customer and the Victoria Beckham woman wants in her make-up bag?&rsquo
The products include a Smoky Brick eyeshadow palette, Lid Lustre eyeshadow, Satin Kajal Liner eyeliner pencil, and a sharpener, as well as two mystery items.