On August 26, Victoria Beckham Holdings Ltd., the fashion and beauty brand led by former Spice Girl Victoria Beckham, announced that revenue for fiscal year 2024 rose 26 percent year-on-year to $151 million (£112.7 million), marking the fourth consecutive year of double-digit growth.
Growth Across Fashion and Beauty
The main driver of growth was direct-to-consumer channels, centered on the brand’s Mayfair flagship and official e-commerce site, which increased 26 percent from the previous year and accounted for around 62 percent of total sales. In fashion, iconic crepe midi and gown dresses boosted sales, alongside the successful relaunch of denim and the expansion of leather goods. Bold colors such as dark green and burgundy drew particular attention.
The beauty division also gained momentum. Its Satin Kajal Liner has become a hit, selling “one every 30 seconds.” The fragrance business launched at the end of 2023, joining skincare and makeup to form three pillars of the beauty line. Looking ahead, the brand plans to release its first foundation, further broadening its product portfolio.
Sybille Darricarrère Lunel, who became CEO in July 2024, reflected, “2024 was a pivotal year for the brand, marked by strategic investment and rightsizing to position the business for long-term, profitable growth.” She further emphasized, “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.”
Darricarrère Lunel previously held senior roles at Christian Dior Couture, Galeries Lafayette, and The Kooples, experience that now underpins Victoria Beckham’s efforts to reinforce its financial foundation.
David Belhassen, founder of NEO Investment Partners, which invested about $38 million (£30 million) in the company in 2017 and retains a significant minority stake, commented: “The Victoria Beckham business has been on an extraordinary journey. We’ve seen a remarkable evolution into a global luxury business with real resonance. The brand’s increased desirability is a testament to the strength of our vision, the power of Victoria’s iconic image and style, and the dedication of our team.”
Adjusted EBITDA improved to $2.8 million (£2.2 million) in 2024, up 22 percent year-on-year, while operating losses widened to about $2 million (£1.6 million). Although profitability remains a challenge, the company has now delivered four straight years of double-digit sales growth, reflecting clear recovery momentum. With recent investments, new product launches, and expanded distribution, profitability is expected to improve from 2025 onward.
The company is targeting a presence in 200 stores worldwide by the end of 2025, with expanded wholesale distribution in leading department stores in France, Italy, and the UK. This fall, Netflix will premiere a documentary series following Beckham’s journey as a designer, expected to further boost brand awareness.
Since founding the brand in 2008, Victoria Beckham has struggled with years of losses but has steadily built growth. Now, with strength across both fashion and beauty, her namesake brand is firmly advancing on the path toward becoming a global luxury house.
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