Victoria Beckham's label makes another loss amidst weaker retail demands and slipping sales

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Designer Victoria Beckham, who has her own namesake label, recently launched her own beauty range and it looks promising! But that alone doesn't garner sales. 

Announcing plateaued sales and demand, the label posted another annual loss of $12.3M for the year 2018. 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Victoria Beckham (@victoriabeckham) on

 

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The label, that hasn't made any profits since its launch in 2008, announced that their sales slipped 16% to £35m, amid weaker wholesale demand. 

Chairman Ralph Toledano said sales of clothing and accessories had leveled off after years of growth."The performance was in line with expectations, so we were not surprised. Our goal is to reach profitability as soon as possible," he told trade journal. 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Victoria Beckham (@victoriabeckham) on

 

But while she has received critical praise, the label has struggled financially, leading Mrs. Beckham to say earlier this year that it was 'not a vanity project'. "If I want this brand to still be here in 10, 20, 30, 40 years' time, I need to break even, and then I need to be profitable," she told the Financial Times in March. "We're on the right track to do that, but it's not going to happen tomorrow."

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(SOURCE: BBC.com)

 

 

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