LONDON – Victoria Beckham Ltd. saw revenue and profits continue to climb in 2024, with the company reporting steady growth across its fashion and beauty business.

The privately owned company reported a 26 percent uptick in total revenue to 112.7 million pounds, or $151.8 million, compared with the previous year.

Fiscal 2024 was the fourth consecutive period of high-double-digit growth, and the brand added that sales momentum has continued into 2025, across all product categories and despite lackluster demand across the luxury market. 

In 2024, adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization, gained 22 percent to 2.2 million pounds, compared with 1.8 million pounds in 2023.

The brand reported a small, undisclosed operating loss during the period, but confirmed that it is on track for long-term profitability. In 2023, operating losses fell to 200,000 pounds from 900,000 pounds a year prior.

David Belhassen, founder of NEO Investment Partners, which holds a significant minority stake in the business, said the brand has undergone “a remarkable evolution into a global luxury business” from its origins in fashion to the launch of our beauty division in 2019.

“The brand’s increased desirability is a testament to the strength of our vision, the power of Beckham’s iconic image and style, and the dedication of our team,” he added. “With a strong new leadership team, a clear strategic roadmap, and accelerating momentum across both fashion and beauty, the future for Victoria Beckham is incredibly exciting as we continue in 2025 and beyond.”

NEO purchased its stake in Beckham’s business for about 30 million pounds in 2017.

Sybille Darricarrère Lunel, who joined Victoria Beckham in July as chief executive officer, said 2024 was a pivotal year for the brand, marked by strategic investment and rightsizing to position the business for long-term, profitable growth.

“Our 2024 performance reflects the team’s disciplined execution and commitment to building a modern luxury house with global resonance. With a clear strategic vision and a sharpened focus on product excellence, we have a great future ahead as we continue to accelerate growth through 2025 across all categories and a strong foundation for sustained profitability,” said Darricarrère Lunel, who previously served as global business unit director of leather goods at Christian Dior Couture.

The company said the strong performance was led by the fashion business, which saw an increase in visitors to its London flagship store on Dover Street and its website in 2024, as well as all three pillars of the beauty division: makeup, skincare, and fragrance, launched at the end of 2023.

Top sellers in the fashion category included the midi- and gown-style crêpe dresses. The brand also relaunched its denim offering and expanded its leather goods category, and added more wholesale accounts in France and Italy.

As for the beauty business, the brand said it strengthened its leadership in the eye makeup category with its hero product, the Satin Kajal Liner, claiming one sells every 30 seconds.

The brand also pumped up its skincare offering with the launch of a double cleansing protocol and the Concealer Pen in partnership with Augustinus Bader, and introduced a new scent, “21:50 Rêverie” in 2024.

Looking at fiscal 2025, the brand said the investment undertaken throughout the previous financial year is having a positive effect. It is being driven by category expansion, product innovation, and improvements to in-house functions, bringing both development and sales in-house.

This fall, Beckham’s documentary series, which will detail her journey as a fashion designer from 2008, will air on Netflix.

The brand will also introduce its first foundation later this year, which is poised to help the skincare-backed complexion category represent more than 20 percent of total sales by the end of 2025.

As for the wholesale business, the brand said that by the end of 2025, it will open more than 130 new doors in key markets, bringing the brand’s presence to 200 doors worldwide.