Victoria Beckham delivers fourth year of double-digit growth as fashion and beauty boom

Victoria Beckham has reported another year of strong growth, with revenues up 26% to £112.7 million in 2024, despite an increasingly competitive luxury and beauty landscape.

The business, which has been undergoing a long-term turnaround, achieved positive EBITDA of £2.2 million, up from £1.8 million the year prior. Excluding its recently launched fragrance arm, EBITDA rose 47%.

It marks the fourth consecutive year of double-digit revenue growth for the company, once known for its high losses before a strategic reset began in 2019.

Direct-to-consumer channels, its Mayfair flagship store and e-commerce, remain a major driver, rising 26% year-on-year and now accounting for 62% of net sales.

VBH’s progress is being driven across both fashion and beauty at a time when many luxury brands are navigating softer demand. In beauty, its bestselling Satin Kajal Liner strengthened its dominance in the eye category, selling one every 30 seconds, while skincare was bolstered by a double cleansing protocol and The Concealer Pen developed with Augustinus Bader.

The fashion division has also regained momentum. Denim was relaunched, leather goods expanded, and crêpe dresses in jewel tones emerged as bestsellers. Beckham’s September 2024 Paris Fashion Week show (her fourth) was again met with positive reviews, reinforcing the brand’s positioning as a serious player on the international stage.

Looking ahead, the company said the investment made in 2024 has already positioned it for stronger growth in 2025.

Victoria Beckham Beauty will launch its first foundation later this year, a milestone in complexion products - a category expected to contribute more than 20% of total sales by year-end. Meanwhile, the brand’s wholesale presence is set to surpass 200 doors globally.

July saw the appointment of Sybille Darricarrère Lunel as CEO of the fashion division. With experience at Christian Dior Couture, Galeries Lafayette and The Kooples, she arrives at a moment when the brand is building sustained profitability and international recognition.

Darricarrère Lunel said: "2024 was a pivotal year for the Victoria Beckham business, marked by strategic investment and rightsizing to position the business for long-term, profitable growth. Despite a challenging market environment, the Company delivered its fourth consecutive year of double-digit revenue growth, underpinned by strong consumer demand and continued brand momentum across both fashion and beauty.

"I am excited to be joining a driven team with a visionary Creative Director and founder. With a clear strategic vision and sharpened focus on product excellence, we have a great future ahead as we accelerate growth through 2025."

David Belhassen, VBH Board Director and founder of NEO Investment Partners, added: "The Victoria Beckham business has been on an extraordinary journey. From its origins in fashion to the launch of beauty in 2019, we’ve seen a remarkable evolution into a global luxury business generating over £100m in sales. With a strong new leadership team and accelerating momentum across both fashion and beauty, the future for Victoria Beckham is incredibly exciting."

The results underline how Beckham’s label, once viewed as a celebrity vanity project, has carved out space in the global luxury market through consistent brand-building and beauty innovation. VBH’s ability to sustain double-digit gains during this luxury economy places it in a rare group.