Victoria Beckham hails positive 2024 results, says 2025 is stronger too

Victoria Beckham on Tuesday reported “another year of strong sales growth in fashion and beauty”. The company — Victoria Beckham Holdings Ltd — to give it its official name, said 2024 saw total revenues up 26% to £112.7 million with positive EBITDA of £2.2 million, up 23%. And EBITDA excluding the fragrance business, “which was successfully launched at the end of 2023”, grew 47% year-on-year.

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It was the fourth consecutive year of double-digit revenue growth, “demonstrating the continued turnaround in the business as it delivers on its plan for long-term profitability”. 

Direct-to-consumer sales (that is, the brand’s flagship store in Mayfair, London, and its website) grew 26% in 2024, and accounted for 62% of total net sales.

The company said the performance was driven by the fashion business and all three pillars of the beauty division (make-up, skincare and fragrance) with notable beauty successes such as its hero product, the Satin Kajal Liner, selling one every 30 seconds. 

In the fashion business, it saw rising visitor traffic to its flagship and website as well as product initiatives that raised its profile. These included the relaunch of its denim offering and expansion of its leather goods category. Bestsellers in clothing included the midi- and gown-style crêpe dresses for which the brand is known in bold colourways such as dark green and burgundy. 

Meanwhile, the company’s wholesale division saw additional openings in key department stores in France and Italy.

And for this year, it said earlier investment “is having a positive effect, with the company continuing to grow profitability”. This has been driven by strategic category expansion, “breakthrough product innovation”, and improvements to in-house functions, bringing both development and sales in-house.

It added that new product launches are also helping the performance this year, including leather dresses and bold floral prints. 

Store-wise, it has opened and plans to open in more department stores across the UK and France.

And it should get a big publicity boost this autumn with Victoria Beckham’s docu-series to launch on Netflix focusing on her SS25 Paris Fashion Week show.

Additionally, later this year, Victoria Beckham Beauty will launch its first foundation and it will continue its expansion into wholesale. It will open more than 130 new doors in key markets, bringing the brand’s presence to 200 doors worldwide.

The company’s growth is happening under Sybille Darricarrère Lunel, who became CEO of the fashion business in July after holding senior positions at Christian Dior Couture, Galeries Lafayette, and The Kooples.

Commenting on the results, she said “2024 was a pivotal year for the 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.

“We continue to accelerate growth through 2025 across all categories and [have] a strong foundation for sustained profitability.”

And David Belhassen, Victoria Beckham Holdings director and founder of its major backer NEO Investment Partners, added: “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.”