Victoria Beckham’s brand reported a significant reduction in operating losses for 2023.
- Operating losses narrowed from £0.9m in 2022 to £0.2m in 2023.
- Revenue surged by 52% year-on-year, reaching £89.1m.
- The company saw an 800% increase in adjusted EBITDA, rising to £1.8m.
- Strong sales of the gathered-waist midi dress and leather goods boosted performance.
Victoria Beckham’s fashion brand has demonstrated notable financial improvement, reporting a significant reduction in operating losses for the fiscal year ending 31 December 2023. The losses decreased from £0.9 million in 2022 to £0.2 million, marking substantial progress for the business.
Revenue experienced a 52% uplift year-on-year, reaching £89.1 million. This notable growth was primarily driven by successful sales strategies, particularly in the online sector.
The brand’s adjusted EBITDA saw an impressive 800% increase, rising to £1.8 million from a modest £0.2 million in the previous year. Such growth indicates an effective management approach and operational efficiency.
Product sales have played a crucial role in this financial success. The gathered-waist midi dress, a customer favourite, was responsible for 10% of online sales in 2023. Additionally, the leather goods range, launched in 2022, now constitutes 20% of all sales, with leather belt sales increasing thirteenfold.
Marie Leblanc, CEO since 2019, remarked that 2023 was “another very strong year of progress for the company”. The brand’s focus on establishing itself as a global luxury house has been reinforced through successful shows at Paris Fashion Week and strategic partnerships, such as the one with Spanish fashion brand Mango.
Victoria Beckham’s fashion brand has made significant strides in reducing losses and enhancing profitability, signalling promising growth for the future.
