Victoria Beckham has received $52 million in funding for her fashion label
Victoria Beckham has proven herself as a designer in ways not many other celebrities ever could, and now, her eponymous label is growing — fast.
The brand has just announced they have received £30 million in funding, that’s about AUD$52 million, from Neo Investment Partners, who will now take up a minority stake within the company.
“Partnership and collaboration is incredibly important to me - working with an amazing team has been the root of the success of my business over the past 10 years,” Beckham explained of her business decision. “Neo is the perfect partner to now accompany us on the next step of our journey: they understand my vision and my wish for the company to retain its independence, as well as my commitment to continuing to develop the brand with a unique, forward thinking approach. I am hugely excited to be working with Neo.”
Announced via a release from Victoria Beckham Limited, the brand revealed it will use the money to enhance digital platforms, improve and expand their bricks and mortar stores, and launch new collaborations and categories. The label will also move to a new headquarters in West London in early 2018.
Beckham started the label in 2008, and by 2011 was showing at New York Fashion Week and had become established and respected amongst the global fashion community. Now, Beckham is known for her classic take on tailoring and form-flattering shapes in luxurious materials.
Most recently, the former Posh Spice announced a collaboration with Reebok, set to be a massive expansion for the designer into active wear.
Big things ahead for VB, that’s for sure.
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