Losses at luxury womenswear brand Victoria Beckham increased by 24% to £10.2m in the year to December 31 2017, compared to a loss of £8.2m the previous year.
Revenue rose by 17% to £36.4m and sales were up in core categories including clothing, accessories and eyewear, according to the Times.
Victoria Beckham blamed the fall in profits on investment in the business and attempts to build its “talent base”.
The brand appointed former Diane Von Furstenberg (DVF) CEO Paolo Riva as its chief executive in September this year. He joined the Victoria Beckham brand with the aim of boosting its geographical and product expansion and increasing the brand’s direct-to-consumer business.
Former Chloe CEO Ralph Toledano was named Victoria Beckham chairman in March this year.