Victoria Beckham secures £30m investment, valuing brand at £100m
Victoria Beckham has secured £30m investment from Neo Investment Partners in a move which is said to value her band at £100m.
Neo Investment Partners specialises in luxury businesses and its investment will help Beckham to expand her brand's retail presence and also boost growth in its core product categories of ready-to-wear, accessories and footwear, as well as collaborations.
Beckham recently announced a new long-term collaboration with sportswear giant Reebok to design a new range of fitness wear and last week it was revealed her brand had signed a 10-year lease on a new HQ in Hammersmith, West London. She also has high profile collaboration with cosmetics giant Estée Lauder on a line of make-up – it has been rumoured that she harbours an ambition to expand further into the beauty market – and earlier this year launched a mass-market line with US retailer Target.
"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 ten years. 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," Beckham, who is the founder and creative director of her brand, said.
"Victoria Beckham is one of the most exciting entrepreneurs I have the pleasure to work with. She is an inspiration to millions of women around the world and she has built a unique, differentiated luxury brand with a strong identity and very high potential. I am delighted to be working with her and her team to reach the brand's full potential," added David Belhassen, founder and Managing Partner, Neo Investment Partners.
The Victoria Beckham brand was founded in 2008 and and opened its first bricks and mortar store on Dover Street in London's Mayfair in 2014. It is now sold through more than 400 stockists in 50 countries and global revenues last year were £36m. It recorded double-digit growth in the first half of 2017 and now employs 180 staff.
Since its inception the brand has been independent and formed part of Beckham Brand Holdings, which is equally owned by Victoria Beckham, David Beckham and Simon Fuller’s XIX Entertainment. "This is a hugely positive time for Victoria Beckham. The continued growth and potential has never been so dynamic. This partnership with Neo will enhance our immediate plans and allow us to expand across all areas of the company with new categories and stronger retail and digital presence. 2018 promises to be the most exciting year yet with the tenth anniversary celebrations and a move into new premises," said Fuller.
Neo, which was also founded in 2008, has a string of other luxury brand investments include product designer Tom Dixon, eyewear brand Alain Mikli, perfumer Miller Harris and leather goods brand Valextra.
