Victoria Beckham sells her clothes at a discount due to debt
– Victoria Beckham’s eponymous brand is selling up to 70% after her company’s £53.9m debt increased.
According to the Daily Mail, designer Victoria Beckham pieces are for sale at The Outnet. If earlier the discount was 30%, now it has reached 70%. For example, the open-back midi dress has been reduced from £1,800 to £554, and the leopard-print blouse from £650 to £228.
Beckham launched the fashion label in 2008, starting with a small collection of dresses. Victoria Beckham now sells the entire range of clothing, including outerwear, as well as bags, shoes, cosmetics and accessories.
However, the brand suffers losses. Victoria Beckham Group’s total revenue fell 6% to £36.1 million (2019 – £38.3 million) as a result of the global pandemic.
The group responded quickly to the challenges of the pandemic and controlled its available funds and expenses, which resulted in a significant reduction in operating losses by 57%, thanks to cost optimization and business model revision, which allowed it to become more sustainable in the long term,” the report says.