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$83m to expand fashion business

Thursday, November 30, 2017

LONDON - Victoria Beckham, the former Spice Girl turned luxury fashion designer, has raised 30 million pounds ($F83m) to expand her stores and e-commerce channel via a new funding round from NEO Investment Partners.

The Business of Fashion website said the deal valued the business at 100 million pounds ($F277m).

Founded in 2008, Victoria Beckham Ltd sells through 400 stockists and in more than 50 countries. It is privately owned by Victoria, her husband David and agent Simon Fuller, and manufactures the majority of its clothing in Britain.

"NEO is the perfect partner to now accompany us on the next step of our journey," she said in a statement.

"They understand my vision and my wish for the company to retain its independence, as well as my commitment to continuing to develop the brand with a unique, forward thinking approach."

Victoria Beckham shot to fame as one of the Spice Girls, a 1990s girl-band that sold 85 million records to become one of the best selling pop groups of all time.

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