Victoria Beckham has received a £30 million (US$40 million) investment from a private equity firm to fund growth at her eponymous fashion brand.
Neo Investment Partners will take an undisclosed stake in the business in exchange for the investment. Beckham said the funds would allow the business "to enhance our digital and physical retail presence and drive growth in our core categories while expanding into new categories to realize the brand's full potential."
Beckham has expanded the brand from a ready-to-wear mainline into accessories, footwear and eyewear, as well as launching high-profile collaborations with U.S. retailer Target and makeup brand Estée Lauder.
A critical success since its founding almost a decade ago, revenues at Victoria Beckham have hovered around £36 million (US$48 million) for the past two years, although the company said revenues for the first half of the 2017 financial year "indicate double-digit growth on the year."
In 2015 — the last year for which accounts have been filed — it posted a pretax loss of £4.3 million (US$5.7 million). London-based Neo, also founded in 2008, specializes in investments in the European luxury sector and has stakes in Parisian menswear brand AMI Paris and British houseware brand Tom Dixon.
"I started the Victoria Beckham brand from a small room in Simon Fuller's office with him and David believing in me and supporting my vision," Beckham said. "I now have an additional partner who is showing that same belief."