Saturday, March 25Welcome

Fiscal 2021 Victoria Beckham brand sales up, losses narrow

London – Victoria Beckham Holding Limited’s earnings are rising and losses are narrowing, according to a 2021 filing to be published in Companys House, the official register of British companies.

In the year ended 31 December 2021, Victoria Beckham Holding Limited, owned by Beckham, her husband David and private equity investor NEO, increased revenues by 13% to £40.9m.

Other works by WWD

The EBITDA loss was halved year-on-year to £2m and the operating loss fell from £6.8m to £3.9m.

The company attributes its 2021 results to its decision to consolidate and reposition its fashion collections and “accelerated growth” in its beauty business.

Filing did not make Beauty sales, but noted that the business has expanded its footprint by opening a UK warehouse in fall 2021 and signing a deal with Bergdorf Goodman. The beauty website added stores in Australia and Canada, further growing its business in top performing stores. market.

The company expects an even stronger year in fiscal year 2022, with double-digit sales growth expected from geographic expansion, the launch of leather products, new beauty products and a strong Spring 2023 show in Paris. I’m here.

Victoria Beckham Pre-Fall 2023

Victoria Beckham Pre-Fall 2023

Chief Executive Officer Marie Leblanc said 2021 “has seen a turnaround for Victoria Beckham Limited. With the successful launch of leather products in 2022 and the continued acceleration of sales growth in the beauty sector, we have high hopes. .”

Over the past few years, Leblanc says the business has been “challenged. It has had to rethink its brand value proposition and make significant changes. We had to consolidate into one, we are uniquely positioned in the market with distinctive designs that reflect the Victorian lifestyle and are the entry price of luxury.”

“With the continued support of our shareholders and Chairman Ralph Toledano, the business is poised to realize its potential. We believe we can reach new heights,” LeBlanc said. rice field.

Shareholders see great potential in the business and will continue to fund its growth, according to the Companies House report.

In 2021, despite lockdown closures, all three of Victoria Beckham’s channels (wholesale, online and in-store) performed well in both fashion and beauty. During this period, we also reorganized our end-to-end processes, from procurement and manufacturing to the final consumer.

Beckham Brands Holdings Limited, the holding company that pays dividends to shareholders Victoria and David Beckham, also had a strong year in 2021, according to a separate filing with Companies House.

Beckham Brand Holdings manages and licenses the David Beckham business and brands. Investments in Victoria Beckham’s global fashion and beauty brands. Ownership participation in Major League Soccer club, Inter Miami CF.

The holding company reported an increase in 2021 revenue from £11.4m to £34.3m and a 65% increase in profit after tax to £19.1m.

The group paid out a £6.3m dividend to the couple, with a further £1.8m payout at the end of the year.

In additional Companies House filings, David Beckham Ventures Limited, which comprises Beckham’s commercial and sponsorship ventures, has boosted revenues to £34m in 2021 from £11.4m in 2020. Net profit increased to £19.6m from £10.6m in 2020.

The company and its subsidiary Seven Global LLP won additional new contracts during this period, expanding its portfolio of product categories. It currently includes sports, media, entertainment, automotive, fragrance, eyewear, luxury brands and financial services.

LONDON, UK - JULY 6: Sandra Beckham and David Beckham at Royal before the match between Spain's Rafael Nadal and USA's Taylor Fritz during the men's singles quarterfinal match on Day 10 of the 2022 Wimbledon Championships Watching from the box The All England Lawn Tennis and Croquet Club in London, England on July 6, 2022.  (Photo by Clive Blanckill/Getty Images)

David Beckham and his mother Sandra Beckham in the royal box of the 2022 Wimbledon Championships.

For 2020, Beckham has signed three new brand deals with Maserati, EA Sports and GEM forex, joining a long-term roster that includes Adidas, Tudor, Suns, Diageo (Haig Club Whiskey) and Panini.

In parallel with this brand partnership activity, Beckham continues to build and support Intel Miami CF.

According to the company, Beckham’s commercial and licensing business and associated brand marketing efforts have proven successful in generating long-term revenue streams.

Beckham’s online presence is one of the largest in the world, with 138 million followers and 9 billion impressions per year on Instagram, Facebook, China-only channels Weibo and Douyin.

In the UK, he is one of the most followed and engaged individuals on social media, and his profile on Chinese platform Douyin has the highest engagement of any international account.

After he launched a strategic partnership with Authentic Brands Group in February 2022, the company is “well-positioned to further develop its brand and licensing business through 2023,” he said.

The company said ABG’s support will help it achieve further growth through many avenues, including strategic endorsements, innovative business models, digital and media partnerships, and new consumer products.

Click here to read the full article.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *