The Victoria Beckham fashion and beauty label recorded a increase in sales for 2024. This is the fourth year in a row with sales growth for the company. It reflects the ongoing efforts to turn the trend.
In a statement, Sybille Darricarrère Lunel, who was appointed managing director of Victoria Beckham in July, described as a “decisive year” in 2024. It is “characterized by strategic investments and adjustments to position the company for long -term profitable growth”.
According to Lunel, the two -digit sales growth was “despite a challenging market environment”. It was “worn by a strong consumer: interior demand and a persistent brand dynamics in both fashion and beauty areas”.
In the reporting period, Victoria Beckham recorded an increase in sales of 26 percent. The turnover rose from £ 89.1 million (103 million euros) to £ 112.7 million in 2023. Sales in direct sales channels, including the London flagship store and the brand’s website, rose by 26 percent. This corresponds to 62 percent of the total net turnover.
The company also recorded growth of the result adjusted for special effects before interest, taxes and depreciation (EBITDA). The EBITDA rose by 22 percent to £ 2.2 million compared to the previous year. The EBITDA without the scent business of the brand introduced at the end of 2023 rose by 47 percent compared to the previous year.
The fashion business and all three pillars of the Beauty division of Victoria Beckham were mentioned as drivers for performance. In the fashion sector, the brand recorded an increase in visitors during the reporting period: interior numbers in its London shop and on its website. This was supported by the reintroduction of the Denim offer and an expansion of the leatherware category. In the beauty area, the expansion in the “skin care-supported complexion” should make up more than 20 percent of total sales by the end of 2025.
Such initiatives, together with improvements in internal functions, help the company to further increase its profitability in the current financial year. The planned opening of shop-in-shops in department stores in Great Britain and France should also contribute to this.
This article was used with digital tools translated.
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