Tightened belts cut losses at Victoria Beckham fashion brand

Victoria Beckham halved losses at her fashion business in 2020 after cutting costs and boosting online and beauty sales.

The former Spice Girl has relied on shareholders pumping millions of pounds into her luxury fashion brand to keep the label afloat, with sales during the pandemic hit by enforced closures of its London boutique and other stores carrying its products.

Victoria Beckham Holdings, which owns her eponymous fashion label and a majority stake in her beauty business, reduced its 2020 pre-tax loss to £8.7 million from £16.6 million a year earlier, which the company attributed to improved management on spending in areas including fabrics, freight and IT contracts.