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Victoria Beckham losses grow

Losses at Victoria Beckham’s fashion label rose by 78.4% in the year to 31 December 2016, after investing “heavily” in design, production, sales and marketing.

The company posted a £8.5m loss after tax, deepening from £4.8m during the previous financial year.

Revenue at the brand dipped by 1.4% to £36.4m, while gross profit fell by 6% to £16.8m.

However, the company said it was confident in its long-term investment plan. During the year, the company launched a collection with US retailer target, and signed a global licence agreement with Reebok.

Last month the brand received a £30m cash injection from private equity firm Neo in exchange for a minority stake.

The brand’s four product categories are ready-to-wear, “Victoria, Victoria Beckham”, accessories and eyewear.

The company is a subsidiary of parent company Beckham Brands Holdings, which also represents David Beckham’s business interests. It is owned by Victoria and David Beckham as well as music mogul Simon Fuller’s XIX Management.

Readers' comments (1)

  • Another case of good money being thrown at bad, but as many people in the clothing industry will tell you, 'It's not about the money', so you can see why it industry is in such a mess.

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