Possessing 24 million followers on Instagram and a fashion brand bearing her name, Victoria Beckham appeared in a famous Japanese restaurant with oversized sunglasses, her familiar image in public. Once nailed by her role as a singer in the famous Spice Girls, but now Victoria Beckham exists as a designer and a businessman in the fashion world.
Victoria Beckham’s day usually starts at 6 a.m. with a 90-minute workout, walks 7.5km on a treadmill with climbing mode, then works out with a personal trainer. Victoria got married 20 years ago, when she was a global superstar and he was David Beckham, a famous midfielder at Manchester United. Together, they have built one of the world’s most recognizable brands with an estimated combined value of hundreds of millions of pounds. Victoria and David were paid £30 million in dividends in 2017.
During that time, their relationship was always monitored by the media with many speculations, when will they break up? Are they in crisis? “Me and David, love us or hate us, we still work hard,” Victoria said.
From a music star to a designer
When Victoria launched her eponymous line in 2008, with a small collection of 10 dresses, there were many doubts about her design abilities, as Victoria never went to school. Today, the market is flooded with designs by stars, like Rihanna’s Fenty Beauty beauty line or Kylie Jenner’s billion-dollar empire. But a music star’s foray into design often makes people doubt the real possibility.
“I know it’s very difficult to pull people out of their prejudices” – Victoria says of her brand – “In the beginning, a lot of people asked who I worked with.” Roland Mouret, is a major inspiration to the Victorian design aesthetic, of which designer Marc Jacobs is an exemplary guide. “He said: if it’s made of good quality, people can say they like or dislike it depending on their taste, but no one can call it trash.
” If it’s made of good quality, people can say they like it or not according to their taste, but no one can call it trash.
That’s interesting advice. Her outfits are well-tailored and beautiful, although the design process has changed over the years, from designs using stretchy materials like Spandex to tuxedo pants and ‘sweeping’ jackets. coats’. The Victorian brand has passed its 10th anniversary with a show in London and dozens of headlines in leading fashion magazines.
“It was just the two of us when I started and it was simply a dress, now we have grown. It is not only a dress, but also a tailoring, knitwear, it has become a complete wardrobe, with accessories. So I learned a lot from the team and I learned a lot about business. I did something that I’ve never done before, so I’m surrounded by the right people and the team that evolves after every fashion season.”
Build a luxury brand
Despite a 17% increase in sales in the past year, Victoria Beckham Limited still had to report a loss of £10.2 million as of December 2017. In November 2017, Victoria received a £30 million investment from NEO Investment Partners, equivalent to a 28% stake in the business. Currently, Victoria’s fashion brand is co-owned by NEO, Simon Fuller15 XIX Entertainment and Beckham Brand Holdings.
In the investment that came with the appointment of a new chief executive, a process of adjusting operations and reducing Victoria’s power. “I’m not surprised at all,” she said. “It’s not surprising to investors either,” Victoria added. Sometimes reputation is a double-edged sword. Sometimes it’s nice to be in the spotlight. But that’s also the downside.”
Building a luxury brand is expensive. But where did the proceeds go? “We had no one to look after the production, the factory, the factory,” says Victoria. “I think from the very beginning, I spent too much on unknowns. I don’t think anyone has benefited, I just think my people didn’t know that they’ve fallen behind.”
If I want the brand to last 10, 20, 30, 40 years from now, I need to break even and then be profitable.
For the past ten years, Ms. Beck has taken the role of chief executive officer and now is a major turning point that opens a new chapter for the brand: “I never asked for this position. But I have taken on many roles. This is not a frivolous project, and if I want the brand to last 10, 20, 30, 40 years from now, I need to break even and then be profitable. We are moving towards such a strategy but this is not going to happen anytime soon…”
A new strategy for the Victoria Beckham brand Despite many changes, Victoria is still moving forward with plans to expand more stores. Along with that is “the focus of fashion on the digital aspect… because it really helps build the brand and take it to the next level”.
Proving this, in early 2019, Edward Barsamian, who previously worked at The New York Times and American Vogue, was appointed Editor for the Victoria Beckham brand. Barsamian will work with the Communications Director to create content that engages the brand’s audience. As can be seen, in the Victoria Beckham brand vision, content is recognized as a key component for direct connection with consumers, as well as continuous communication with customers and storytelling as one of the strategies. Marketing strategy to retain customers.
Victoria Beckham also added that the arrival of Paolo Riva as the brand’s CEO, has given her the opportunity to improve her strategy of developing accessories, shoes and bags. Accessories are a business segment that often brings a lot of profit to the brand. Obviously, a new CEO, a new strategy, promises many exciting things for the Victoria Beckham brand in the future.
