It’s no secret that Victoria Beckham’s eponymous luxury fashion label has struggled to turn a profit, despite being one of the most relevant names in the industry. Earlier this year, it was revealed that the company may need cash injections from shareholders to keep it afloat. And now, Victoria Beckham is reducing the average selling price of her clothes by almost 40% by switching to simpler silhouettes and merging its main Victoria Beckham collection with its diffusion line, Victoria, Victoria Beckham, to appeal to a wider demographic.
“We’ve seen a huge opportunity in the market, which is a space for an affordable luxury brand. It’s about maintaining our elevated DNA, but providing an ease — and making sure our consumer can relate to the brand both in terms of use and price point,” said CEO Marie Leblanc, who also remarked that this shift was necessary to ‘future-proof’ fashion.
“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,” she added. The new direction, which will see Victoria Beckham and the diffusion line merge into a single label, is set to launch with a Pre-Spring 2022 collection that debuts in stores this November.
“None of the collection feels like a compromise to me. We have worked hard on fabrication and production to deliver the same quality for our community,” Beckham said about the line-up