Sales rose 26.5% to 112.7m in 2024, the brand's fourth consecutive year of growth. Strong online sales, the London flagship store and a 24% rise in cosmetics online drove performance, aided by new concealer pen and eyeliner launches. Shareholders advanced an additional 6.2m loan amid material uncertainties that may cast doubt over the group's ability to continue as a going concern. The company needs to extend a 4.1m bank loan due for repayment next week after pre-tax losses widened to 4.8m from 2.9m in 2023, and a loan extension is expected. Net liabilities are 29.7m, narrowed by almost 10m year-on-year. Shareholders previously provided 6.9m last year. Funds are intended to support growth plans, cost reductions, operational streamlining, expansion into more UK and French department stores, and to benefit from a Netflix docuseries tied to Paris fashion week.
Sales rose 26.5% to 112.7m in 2024, the brand's fourth consecutive year of growth, helped by strong sales online and at Victoria Beckham's London flagship store, as well as a 24% leap in online sales of cosmetics including a new concealer pen and eyeliner. However, accounts filed at Companies House show the shareholders advanced an additional 6.2m loan earlier this year amid material uncertainties which may cast significant doubt over the group and company's ability to continue as a going concern.
The accounts said these new funds were to help sustain the group's growth plans, drive cost reductions and a streamlining of operations and creating a model for the longer term. Plans include a presence in more department stores across the UK and France, while the brand will get a lift from the launch of Victoria Beckham's docuseries on Netflix, which will focus on this year's spring/summer Paris fashion week show.
Collection
[
|
...
]