Former Spice Girl, Victoria Beckham has certainly been spicing up the fashion industry over the last few years.
The 40-year-old mother-of-four, whose company was awarded Brand of the Year at the recent British Fashion Awards, reported sales of $28.5 million (CDN) in 2012.
According to british news outlet The Sun, Victoria Beckham Ltd made a $2.4 million profit in 2013. That means a whole lot of merchandise – selling $15 000 worth of stock (or 55 handbags priced at $2,700) per day!
The singer turned designer, who had her first collection of dresses shown on the runway at New York Fashion Week in 2008, has grown her business to include handbags, shoes, sunglasses, denim, a luxury nail polish collection, and created sister labels to her company.
The rising sales are thought to be thanks to her recently launched website, and her September store opening on Dover Street in Mayfair, London, where hundreds of fans waited for the doors to open.
With her prices ranging from $250 for a keyring to $3,600 for a dress and almost $2,000 for a pair of leggings, it is easy to see how the company has been able to do great sales. Merging technology into the equation has also paid off. While opening her shop, Victoria explained ‘We’re not going to have any ugly tills anywhere. Payment is with an iPad, so we can go to the customer on whatever floor she’s on.’ The lower level is dedicated to personal shopping, while the upper level houses the main Victoria Beckham collection.
‘Five years ago, if you’d said that I’d have a store on Dover Street, I’d never have believed it,’ she admits. ‘I feel really really lucky.’