By: Giuliana Santomauro
Whether you choose to admit it or not, Victoria Beckham is the woman we all aspire to be. The former Spice Girl lives the life that we all secretly dream of: Marriage to superstar soccer legend, David Beckham, four kids with blessed genes and ageless skin.
But recently, reports by The Sun and Daily Mail claim that her clothing line is not as successful as one might think. In fact, the brand has lost close to 4000 euro a day for the past eight years.
To the untrained eye, the Victoria Beckham brand does not seem to be doing poorly. With celebrities such as Gal Gadot, Eva Longoria and Meghan Markle consistently wearing her designs, it is clear that the lack of profit comes from the disconnect with the average consumer. Victoria Beckham’s designs are no more expensive than other luxury brands, yet her profits remain down while other companies continue to flourish.
Many people attribute these loses to the lack of a universal product within Victoria’s collection. There is no staple piece that people want to buy, such as the over-popular gold Gucci belt or the Longchamp tote bag that everyone seems to own. Beckham also has not established any permanent partnerships with other companies. While she did offer a line of clothing at Target, which increased her sales, the collection was only sold temporarily.
While these claims may be valid, they are more critical than usual because of her high profile. The problem with our outlook is that we are digging for an answer for why her company is not as prosperous as other high-end designers when the answer is so blatantly obvious that we missed it. Beckham’s brand was created in 2008, just over ten years ago. As a relatively new company, it makes sense that she isn’t raking in billions of dollars each year from it, and she doesn’t have to be. Victoria Beckham could never work another day in her life and still have money left over. She doesn’t design clothing to get by, she designs it simply because she loves fashion.
When businesses fail, they shut down because they don’t have the money to continue. But this isn’t the case for Victoria Beckham. She can continuously invest back into her brand, and hopefully one day make it profitable.
This is not to say that newly formed companies cannot be highly successful when they are first starting out. But according to Investopedia, 66% of small businesses fail within their first ten years. Compared to large companies such as Dior or even Nike, Victoria Beckham’s brand is definitely on the smaller side.
The reason we care so much is because of who she is. We want to see Victoria Beckham do well so we can can continue to live vicariously through her. She became more than just a popstar who wore an iconic matching leather outfit with David Beckham, transforming her into a fashion inspiration to us all. By creating a brand with no previous design experience, Victoria Beckham has proven that one’s passions in life should be the priority instead of a blind need for success.
So instead of criticizing a brand that is not doing as well as we would expect, we should be praising Victoria for continuing to do what she loves to do.