Victoria Beckham cuts retail prices to 'future proof' brand

Victoria Beckham cuts retail prices to 'future proof' brand

By Cecilia Matanatabu
Saturday 26/06/2021
Victoria Beckham cuts retail prices to 'future proof' brand.

Victoria Beckham is cutting its retail prices by up to 40 percent in a bid to ‘future proof’ the company.

The London-based design designer said she is moving to a simpler silhouette and less expensive fabrics after the pandemic saw demand for embellished party dresses fall.

Victoria Beckham’s chief executive officer Marie LeBlanc said the changes were necessary in order to “guarantee the future.”

In an interview with the Guardian broadsheet, LeBlanc stated: “We are going to come out of this time with a hybrid lifestyle.

Maybe you don’t have to dress up so much to take a meeting. Our customer is smart, she wants value for money.”

While tailoring is expected to remain a core category, Beckham is embracing a lo-fi aesthetic paired with a more accessible price point.

A collection of easier silhouettes focussed less on high-end simplicity and more on price and wearability could see Beckham expand her market reach and draw in new customers, especially a younger, more cost-conscious clientele.

Since launching in 2008, the pop-star-turned fashion designer is yet to see her fashion business make a profit.

In the company’s last funding round in 2017 Victoria Beckham Ltd raised 30 million pounds.

In recent years the London team has seen a roster of high-profile designers and managers exit the label. The business remains in flux, albeit with a new plan.

By: Don-Alvin Adegeest

[Source: fashionunited.uk]



Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Womens Rugby World Cup 2022
Quarter-final qualification is now the goal for the Rooster Chicken Fijiana 15’s following their 21-17 victory against South Africa.
105 days ago

Queen Elizabeth II passes away
Queen Elizabeth II, the UK's longest-serving monarch, has died aged 96, after reigning for 70 years.
135 days ago

Fiji wins Melrose Cup after 17 years
Fiji wins the RWC 7s title after 17 year drought
137 days ago
FEATURE NEWS
WAF trying to restore water supply for thousands affected along the Suva-Nausori corridor
Thousands of people along the Suva to Nausori corridor affected by no water supply or low pressure from last night are uncertain as to when supply wil...
3 hours ago
LATEST NEWS
Rihanna to perform at halftime of the Super Bowl
Rihanna will perform at halftime of Super Bowl 57 on the 13th of this month. The NFL is going back to the traditional setup of a singular act ...
2 hours ago

FBI search President Biden's Delaware home over classified documents
The FBI is searching President Joe Biden's home in Rehoboth (Reh-Ho-Berth), Delaware as part of an investigation into classified documents. In a ...
2 hours ago

Year 8 exam results out today
Fiji Year Eight Examination provisional results have been released today as the Education Ministry has recorded a 62 percent pass rate compared to 69 ...
3 hours ago

Children are held back from saving - Fisher
National Coordinator for the Financial Management Counselors Association of Fiji, Lagi Fisher, says parents in Fiji and around the world are one of ...
16 hours ago

Navitilevu villagers in desperate need of water
Villagers from Navitilevu in Navosa say they have been calling for assistance for many years as they need water tanks as a back up to their water ...
17 hours ago

TOP