Why Victoria Beckham’s business was on the verge of ‘disaster’
As remembered David Belhassenwhose Neo Investment Partners bought a third of Victoria’s business in 2017 and helped drive its financial turnaround, he was initially adamantly opposed to getting involved.
“It was a disaster,” he said on the show. They “never made a profit. Frankly, I’ve never seen anything so difficult to repair.”
Belhassen said he changed his mind after complimenting his wife one night and discovering she was wearing Victoria Beckham – and she love the brand.
However, to be able to help, he explained, “I needed her to understand if she was really capable of accepting what had to happen. For years, people were telling her what she wanted to hear.”
Among the unnecessary expenses are “70,000 a year” for office plants, Belhassen said, and “someone would come and water the plants for 15,000.”
Victoria admitted in the document that her “entertainment experience” led her to excesses.
“I didn’t realize it at the time, but the waste was mind-boggling,” she said. “I had 15 different linings for the inside of outerwear… Weird things like flying chairs from one side of the world to the other. I hear that now and I’m horrified, but I allowed it to happen. And I think part of the problem was that people were really afraid to say no to me.”
According to Fashion Network, Victoria Beckham is out of red in 2022.
