Victoria Beckham Ltd receives US$40m cash injection

Victoria Beckham Ltd receives US$40m cash injection
PHOTO: AFP

Private equity group NEO Investment Partners, founded and co-managed by David Belhassen, has recently invested GBP 30 million (US$40.4 million) in Victoria Beckham Ltd. in exchange for a minority stake in the company.

The investment is to be used to expand both the offline and online presence of the fashion retailer, which makes clothes, shoes, glasses and other fashion accessories.

According to Independent, founder and creative director Victoria Beckham commented: "[NEO Investment Partners] understands 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."

It also quoted Belhassen remarking that Beckham was "one of the most exciting entrepreneurs" and "an inspiration to millions of women around the world".

Victoria Beckham Ltd., which has since been valued at GPB 100 million ($132.3 million), is run by Beckham Brand Holdings, which is managed by the Beckham celebrity couple and another company belonging to former Spice Girls manager Simon Fuller.

David Beckham noted that he was proud of his wife's achievements. "I am sure the next decade will be even more exciting," he added.

The label has two stores in London and Hong Kong, and is stocked in over 400 department stores in the United Kingdom and the United States.

Also read: Victoria Beckham wants to create fashion 'empire'

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