Victoria Beckham is not willing to spoil her business and her dream of being someone in the world of fashion. The 47-year-old designer, beset by considerable losses, has set out to relaunch her brand with a new strategy.
David Beckham’s wife created her clothing brand more than 13 years ago, and since then, many celebrities like Meghan Markle, Olivia Palermo, Demi Moore and Kate Winslet have worn her clothes. Queen Letizia yesterday wore a dress of hers at the opening of the World Blindness Summit, in Madrid, and that she had already worn before. But the success of his collections, with rave reviews, has not been accompanied by good financial health. According to him Daily Mail , the Victoria Beckham brand has lost about 53.20 million euros since its inception in 2008. This volume of losses has come to put the former Spice Girl’s professional future in check. But showing a great capacity for resilience, he has set to work to refloat his brand.
The idea is that basic garments cost between 300 and 700 pounds (between 350 and 815 euros)
Now his two clothing lines – Victoria Beckham, with an average price of 900 pounds, and Victoria by Victoria Beckham, a more accessible line, which could be around 300 – are merged into one as in the beginning. In addition, it has announced that it will lower prices, which were now only affordable for a wealthy clientele, by up to 40 percent. The idea is that basic garments cost between 300 and 700 pounds (between 350 and 815 euros). This strategic move, announced at the presentation of the spring 2022 collection, aims to get the firm out of the red and return profitability.
The brand will have four very careful collections a year, compared to the previous eight. The first selection of garments, among which are long knitted or satin dresses, relaxed cut trousers, and suits with all the characteristic femininity of the house, will hit stores at the end of November. Beckham is also enjoying the success of her beauty line, created in October 2019, which includes skin care and makeup products. “It’s like having two daughters: a daughter of fashion and the other of beauty,” says the designer to the portal Fashion Network .
The next thing for the English brand will be, next spring, a pre-launch of shoes and, later, work on leather goods for this autumn-winter. “So Victoria Beckham will become a complete luxury and lifestyle brand,” insists the former Spice Girl. “I have 29 million followers on Instagram that I can reach immediately. I think our opportunities are enormous ”.
A mother of four, Beckham combines family and career. She and her husband continue to take their youngest, Cruz (16) and Harper (9), to school. The eldest son, Brooklyn (22), lives in Los Angeles, and Romeo (18) is about to move to Florida, where his father owns the MLS soccer club, Inter Miami.
Whether or not this new strategy works to refloat its fashion brand, the Beckham’s finances are not in danger. According The Times , the couple owns almost 400 million euros; in order to The Mirror the figure rises to 750 million and Forbes estimates that David alone would have accumulated about 800 million.