Luxury womenswear brand Victoria Beckham has announced former Chloe CEO Ralph Toledano as its new chairman.
The label, set up by former Spice Girl singer Victoria Beckham in 2008, has appointed Toledano in an effort to drive further growth and expansion and return the brand to profit. The launch of a direct to consumer website, growth in the Asian market and a review of the company’s cost base were all highlighted as core to the next phase of the business.
Toledano is currently president of the Federation de la Haute Couture et de la Mode, the French equivalent of the British Fashion Council, as well as president of Paco Rabane and Nina Ricci owner Puig’s fashion division. Previously he was CEO at luxury womenswear brand Chloe, where he is credited with starting the career of former Celine designer Phoebe Philo when he appointed her as creative director in 2001.
The news follows a £30m investment from investment firm NEO Partners in December 2017.
In the company’s latest results, released in December 2017, the brand was shown to have made a loss of £8.4m for the year ending December 2016. Global revenues for the period were £36m, with the brand indicating that full year revenues for 2017 show double digit growth.
Commenting on his appointment, Toledano said: “I was fascinated to meet with Victoria - an artist, designer and entrepreneur - who remains driven in her ambition for her brand. She is at the forefront of the shifting and increasingly digital fashion landscape and, having established her brand vision over the past decade, is now uniquely positioned to communicate this vision directly to her customers.”
The Victoria Beckham brand is part of Beckham Brand Holdings, which is owned by Victoria and David Beckham, as well as music producer Simon Fuller’s XIX Entertainment.
Last month the brand showed its autumn 18 collection as part of New York Fashion Week, ahead of a move to London Fashion Week for the spring 19 shows in September.