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Tag: Neo Investment

  • Victoria Beckham unveils major expansion plans in Asia

    Victoria Beckham unveils major expansion plans in Asia

    Asia will be a particular focus as UK fashion brand Victoria Beckham pursues further geographical expansion.

    This follows a £30 million (US$ 41.7 million) investment from NEO Investment Partners in December, plus the appointment of fashion-industry veteran Ralph Toledano as chairman.

    Previously the CEO of Chloe, he will work closely with the team to “nurture the creative vision at the heart of the brand” as well as help it “prepare the business for its next phase of growth”, says the company.

    Toledano says his ambition is to turn the brand into a modern luxury group, while reviewing its cost base to return it to profitability. He says further expansion, particularly in Asia, where Victoria Beckham has a store in Hong Kong, is a “realisation of the company’s direct-to-consumer ambitions”.

    “Following the investment from NEO last year, I am thrilled to have the added expertise of Ralph as chairman,” says founder/creative director Victoria Beckham.

    NEO Investment Partners brands also include Parisian contemporary menswear brand AMI Paris, cult Italian luxury leather-goods brand Valextra, luxury British design brand Tom Dixon and contemporary F&B and boutique hotel brand Experimental Group.

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  • Neo Investment to Fund $40 million for Victoria Beckham

    Neo Investment to Fund $40 million for Victoria Beckham

    Fashion entrepreneur Victoria Beckham has raised £30 million (US$40 million) from growth equity firm Neo Investment Partners in exchange for a minority stake in her namesake luxury label.

    While the terms of the transaction have not been disclosed, market insiders say the deal values the business at £100 million.

    “As the business continues to grow, I appreciate the need for external investment which, in turn, would bring external expertise,” says the former Spice Girl. “Neo has shown it can take founder-led businesses with a global outlook to new heights. Our focus is on building a sustainable, profitable luxury brand.”

    Neo Investment Partners founder/managing partner David Belhassen says Beckham is an inspiration to millions of women around the world. “She has built a unique, differentiated luxury brand with a strong identity and very high potential.”

    Beckham plans to use the funding to expand the luxury womenswear brand’s physical retail and e-commerce presence, as well as drive growth of core product categories.

    After a series licensing deals for eyewear, denim and fragrance, Beckham launched her own luxury womenswear line in 2008 with a range of dresses. Initially shunned by the fashion industry, she has since expanded into handbags, eyewear and shoes and currently employs 180 people with stores in London and Hong Kong as well as an e-commerce site.

    Beckham teamed with Target last year for a capsule collection, and is now working on a collaboration with Reebok expected to launch late next year. “To challenge the traditional notions of fitness wear within a fashion context is something I have always wanted to do,” she says.

    The Victoria Beckham label is controlled by Beckham Brand Holdings, a holding company that also owns the licensing of the former football star’s name. The company is owned by the husband-and-wife team of David and Victoria Beckham as well as Simon Fuller, the entertainment impresario who created the Idol franchise.