Why Victoria Beckham’s Business Was on the Brink of ‘Disaster’
As remembered by David Belhassenwhose Neo Investment Partners bought a third of Victoria’s business in 2017 and helped turn it around financially, he initially said no to the possibility of getting involved.
“It was a disaster,” he said in the series. They “never made a profit. Honestly, I’ve never seen anything as hard as that to fix.”
Belhassen said he changed his mind after complimenting his wife one night and finding out she was wearing Victoria Beckham – and she beloved the brand.
But to help, he explained, “I needed her to understand if she was really capable of accepting what had to happen. For years she had people telling her what she wanted to hear.”
Unnecessary expenses included “70,000 a year” on office plants, Belhassen said, and “someone came to water the plants for 15,000.”
Victoria admitted in the document that her “entertainment background” led to excessive pleasure.
“I didn’t realize it at the time, but the waste was staggering,” she said. “I had 15 different linings for the inside of the outerwear…Bizarre things like flying chairs from one side of the world to the other. I hear it now and I’m horrified, but I let it happen. And I think part of the problem was that people were really afraid to say no.”
Per Fashion NetworkVictoria Beckham came out of the red in 2022.
