POSH IN THE BLACK

After 15 years of hard graft, Victoria Beckham's fashion business is finally turning a profit

- NICI DE WET

YOU have to hand it to her. She has millions in the bank and could easily have said "the hell with it" when her business teetered on the brink of bankruptcy.

But did she throw in the towel? She did not - and love her or loathe her, you have to admit Posh has staying power.

For the first time in 15 years, her fashion business is seeing a profit and the dark days of financial ruin look like they're over for the former Spice Girl.

Victoria Beckham had to turn to husband David to bail out her beloved self-titled brand (VB) in the past but things are finally looking up.

David Belhassen, her private equity investor, recently announced revenues were up by 42% to £58 million (R1,1 billion) in 2022- and Posh's business acumen and never-say-die-attitude are front and centre of the turnaround.

Instead of slinking off in her stilettos and admitting defeat, she put her head down, made several strategic changes and brought her brand back to life, silencing critics who dubbed it a "vanity project".

"This is what gives Victoria her identity, an insider says. "She loves her business and despite its obvious obstacles, she's a grafter.

Her latest spring/summer collection, which she debuted at Paris Fashion Week in September, has been fawned over by critics, with many items selling out and waiting lists growing.

Victoria has been embracing the changes she's made with vigour and her trademark ferocious work ethic, Belhassen says. "She's been unbelievable - on fire - and is taking on every single challenge. She wants to create a legacy."

WORKING IT

In the aftermath of the pandemic, many fashion brands scaled down their businesses to cope with lower demand - and Victoria did the same.

She emerged with a new, leaner structure and vision that are already reaping rewards. "Lockdown was a great time to look at the business and the strategy, Posh says.