After launching in 2008, Victoria Beckham’s fashion business is finally on the rise – and almost as relieved as Posh Spice herself is husband David.
As heat has previously reported, 49-year-old fashionista Vic had a touch of the failure-to-launch when it came to her clothing brand with year after year of losses, including a reported £6million last year. But, after bringing in investors and taking a major step back from her passion project, the business has finally turned profitable – and our source says that life is looking up for VB.
“For Vic, having the business making money following the huge losses of the last few years is a huge relief – it’s hands down her most important achievement to date,” an insider tells heat. “It’s also a huge sigh of relief for David, who’s keeping his fingers crossed he won’t have to bail the business out any more.”
The past few years have been far from easy for Posh. And, we’re told, for her – even worse than her failing fashion brand – was knowing the world was watching. Our insider explains, “Being a loss-making business was really humiliating for Vic. She was sick of always being in the spotlight for it – her biggest fear was that no one would take her seriously any more.”
And, it seems, the mum of five – who found herself embroiled in a rumoured feud with eldest son Brooklyn’s wife Nicola Peltz, 28 – was given another push to make a success of her business, thanks to some choice comments from her daughter-in-law’s billionaire family.
Our source reveals, “The fallout over Brooklyn’s wedding really got Vic’s back up. The Beckham side of the family felt that the American billionaires were looking down on them. There were frequent references to the ‘failures’, and [Nicola’s dad] Nelson joked on a few occasions that he was such a genius, he could turn it around in a few weeks. That definitely got Vic’s hackles up.”
For David, 47, the job of saving his wife’s business has often rested on his shoulders, with him bailing out the brand with millions of his own money. And, our source says, Vic’s upturn in fortune has come at exactly the right time. “David was very stressed last year – he feared he may have to devastate Victoria by telling her he might not be able to keep propping up her fashion brand and that it might be time to sell.
“It was a difficult position for him to be in and it has caused bust-ups in the past. He’s just so relieved that it’s no longer an issue of contention between them – especially as Vic had supported him on so much over the years. He’s really happy for her and knows how much she had to adapt to turn the business around.”
One of the biggest adaptations the former Spice Girl made was stepping back, with our source explaining, “The role Vic plays has really changed. She’s now a figurehead rather than the person running the everyday stuff . While major decisions are hers, the place can run without her. It’s also become harder for her to pretend she’s not feeling the effects of getting older. She doesn’t have the energy she used to and was struggling to keep up with the hours – especially with so many family things going on.”
And with her business on the up, our source says Victoria’s got high hopes for the months ahead, as well as what her empire could mean for Brand Beckham’s future.
Our source says, “Victoria has some milestones she wants to reach by her 50th birthday, and she’s determined to get there. She’s already had huge success with her beauty line and has some exciting new ideas – and a lot of them are aimed at making sure her brand is desirable for the younger market.
“More than anything, she wants this company to be her daughter Harper’s legacy.”
