Victoria Beckham Cuts Prices in Brand Restructure

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Victoria Beckham Pre-SS22 collection. Victoria Beckham.

The British company will lower average prices for dresses by 40 percent and merge its main Victoria Beckham collection with its diffusion line to appeal to a wider audience, it told BoF.

Though the brand plans on retaining its luxury positioning and aesthetic, its eponymous designer and CEO Marie Leblanc are betting on accessible prices and pared-back designs to draw in new shoppers. “We’ve seen a huge opportunity in the market, which is a space for an affordable luxury brand,” Leblanc wrote in an email. “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.”

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The new brand direction, which will see Victoria Beckham and Victoria, Victoria Beckham merge into a single label, will launch with a Pre-Spring 2022 collection that debuts in stores this November. 

Victoria Beckham reported losses for 11 years in a row until 2018, but saw sales return to growth before the pandemic hit, according to accounts published in January. While the brand is still working towards profitability, Covid-19 has redrawn the fashion landscape, prompting many businesses to rethink their offerings.

”None of the collection feels like a compromise to me,” Beckham said in an email. The new direction is a “rebirth,” she said. “We have worked hard on fabrication and production to deliver the same quality for our community.”

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