- Victoria Beckham Limited raises £30 million from private equity group Neo.
- Investment reportedly values the high-end fashion brand at £100 million.
- The money will be used to open more shops and expand online presence.
LONDON — Victoria Beckham’s fashion brand has received a £30 million investment to help fund expansion.
Private equity group NEO Investment Partners has invested the sum in the luxury brand. NEO’s other investments include French bakery chain Paul and the leisure group behind the Experimental Cocktail Club.
Victoria Beckham said in a statement: “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.”
David Belhassen, founder and managing partner of NEO, said in a statement: “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.”
The investment valued Victoria Beckham fashion business at £100 million, according to the Telegraph, which first reported the investment.
The new money will be used to open new shops and expand its presence online, according to a statement.
Victoria Beckham currently has two shops, in London and Hong Kong, but is stocked in over 400 department stores around the world, including the likes of Harrods and Selfridges.
Victoria Beckham Limited is a high-end fashion brand that makes clothing, shoes, and accessories. Founded in 2008, the London-based brand today employs 180 people. Victoria’s husband David and her former manager Simon Fuller are both shareholders in the business.
The former Spice Girl’s company had revenues of £36.5 million in 2015, the most recent year accounts are available for. The company said in a statement that revenues last year were £36 million but said: “first half 2017 revenues indicate double-digit growth on the year.”