Its the beginning of 2022 and the DVB brand is already suffering from an $8 million dollar loss.
According to company house Victoria Beckham Holdings reportedly made a loss of over £8 million in2020 with sales dropping by 6% compared to the previous year. Ms Posh spice ;aunched her namesake brand in 2009 followed by her cosmetic line in 10 years later in 2019.
The company told a media source that – ‘In a pandemic year when stores selling Victoria Beckham fashion and beauty are shut, the company managed to halve its losses and grow its online sales in the fashion business and significantly grow its beauty business.’
The company stated that they have “tightened” their belts when it comes to creation costs for samples, fabrics and freights. They’ve also stated to have merged the two companies, therefore reducing operating costs.
What do you think, will the Victoria Beckham brand bounce back from this setback?
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