Sales fell by 16% to 35 million pounds (40 million euros) compared to 42.5 million pounds (47.2 million euros) in 2017.
Victoria Beckham struggles. The fashion company lead by eponymous designer has ended its fiscal year 2018 with losses of 12.3 million pounds (14.3 million euros), according to The Telegraph.
In 2017, Victoria Beckham’s losses stood at 10.2 million pounds (11.3 million euros), compared to the red numbers of 8.2 million (9.1 million euros) reached at the end of 2016. Sales also fell in 2018 by 16% to 35 million pounds (40 million euros) compared to 42.5 million pounds (47.2 million euros) in 2017.
Chairman Ralph Toledano has stated to The Business of Fashion that the goal is “to reach profitability as soon as possible.”The company is lead by Sidney Toledano and both Neo Investment and David Beckham own a minority stake.