Victoria Beckham’s fashion business has posted another annual loss as demand for the former Spice Girl’s high end clothes “plateaued”.
Victoria Beckham Limited, which has not made a profit since it launched in 2008, reported a loss of £12.3m for 2018.
Sales slipped 16% to £35m, amid weaker wholesale demand.
Chairman Ralph Toledano said sales of clothing and accessories had levelled 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 Business of Fashion.
Mrs Beckham launched her label in 2008 with a collection of luxury dresses, and now sells fashion and accessories in more than 400 stores around the world.
Image copyright Getty Images 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.”The company has been trying to improve its performance, launching its own cosmetics range, striking a partnership with Reebok, and making price cuts.