Victoria Beckham's fashion brand nabs £30m from Paul bakery chain backer Neo Investment Partners

 
Lucy White
Victoria Beckham founded VBL in 2008 (Source: VBL)

Victoria Beckham Limited (VBL), the luxury fashion brand founded by the former Spice Girl whose name it shares, has caught the eye of London-based Neo Investment Partners.

The growth investor, which specialises in high-end brands, has ploughed £30m into VBL to allow the company to expand its digital and physical retail presence.

Beckham's fashion business also wants to boost growth in its core categories, which include ready-to-wear outfits, accessories and shoes, while launching new product lines and collaborations.

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“Neo is the perfect partner to now accompany us on the next step of our journey: 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,” said Beckham.

Founded in 2008, VBL has been based in London since inception and will move to new premises in the west of the city next year.

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It opened its first bricks-and-mortar flagship store on Dover Street in 2014, in collaboration with architect Farshid Moussavi, and launched its first Asian store in Hong Kong in 2016. The brand now retails through 400 stockists in more than 50 countries.

Global revenues for the 2016 year totalled £36m, and first-half revenues in 2017 have indicated double-digit growth on the year.

“Victoria Beckham is one of the most exciting entrepreneurs I have the pleasure to work with. She is an inspiration to millions of women around the world and she has built a unique, differentiated luxury brand with a strong identity and very high potential,” said Neo's managing partner and founder David Belhassen.

Neo tends to stay invested in companies over a seven- to 10-year time horizon, slightly longer than the average private equity firm, and other businesses in its portfolio include interior designer Tom Dixon, menswear brand Ami Paris, eyewear designer Alain Mikli and bakery chain Paul.

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