Victoria Beckham’s fashion and beauty empire has delivered a major financial turnaround after years of losses, with the former Spice Girl’s company posting a £7.3million operating profit following the runaway success of her £104 foundation.

The results mark a striking reversal for the designer, who once feared that the business she had spent years building could collapse after racking up losses running into tens of millions of pounds.

Accounts for Victoria Beckham Holdings, covering the year to December 2025, revealed that revenue climbed 15 per cent from £112.7million in 2024 to £129.8million.

It represents the fifth consecutive year in which the company has recorded double-digit revenue growth, underlining just how dramatically the business has changed since the days when Victoria was forced to rely on husband David Beckham to keep her fashion label afloat.

And behind the impressive figures appears to be the growing strength of Victoria’s beauty division.

Her £104 foundation proved particularly successful after launching in 2025, reportedly selling out within days and attracting a waitlist of 25,000 customers.

The foundation more than doubled the size of the company’s skincare business, while Victoria’s highly rated Satin Kajal eyeliners continued to attract customers.

For the fashion designer, the figures represent far more than a successful year in business.

A source said: “Victoria has worked so hard for the success of her company, she has put blood, sweat and tears into it.

“She almost lost it some years back so she is just so happy that it has posted a profit like this.”

The achievement is particularly significant because Victoria has been remarkably candid about just how close she once came to losing the company.

Last year, the business recorded a revenue loss of £1.6million, while Victoria’s own recollections of the earlier years of the label revealed a much more painful story.

In her Netflix documentary, released last October, the 52-year-old designer became emotional as she discussed the financial difficulties that had threatened her fashion dream.

Victoria launched her eponymous fashion label in 2008, but the early years were anything but smooth.

The business accumulated enormous losses and David repeatedly provided financial support, a situation that Victoria admitted was deeply embarrassing for her.

“This business is everything to me, it’s absolutely who I am but it has been a hell of a journey. I almost lost everything and that was a dark, dark time,” she said.

She recalled crying before going to work and feeling as though she was constantly attempting to prevent another crisis.

“I used to cry before I went to work every day because I felt like a fire fighter,” Victoria admitted.

“We were tens of millions in the red.”

The situation was made even more complicated by the fact that David was not simply her husband but also had a financial stake in the company.

Victoria said she would have to go home and discuss the state of the business with him, despite desperately wanting to prove that she could make the label succeed independently.

David, 51, also spoke openly about the difficult conversations they had during those years.

He recalled looking at the amount he had invested and acknowledged how painful it was to watch his wife struggle.

David explained that Victoria had once been wealthier than him when they first met and had even purchased the couple’s first home in Hertfordshire, famously nicknamed “Beckingham Palace”.

For Victoria to then have to approach him for more money was emotionally difficult for both of them.

Eventually, David said, he reached a point where he realised the situation could not continue indefinitely.

Victoria later admitted that she felt as though her entire world was collapsing around her.

“The entire house was crashing down, I was losing my business,” she said.

“I needed outside investment. I needed someone to help me.”

She described feeling desperate, embarrassed and as though she was trapped in quicksand.

The turning point came when she secured outside investment from businessman David Belhassen, whose company Neo Investments invested £30million into Victoria Beckham in 2017.

That investment helped provide the financial foundation for the next stage of the business and allowed Victoria to continue developing her fashion label rather than abandoning it.

Almost a decade later, the latest figures suggest that gamble has paid off.

Victoria Beckham Holdings now encompasses both the fashion and beauty businesses, with the latter becoming an increasingly important part of the company’s growth.

The success of the foundation appears to have been particularly significant.

The product’s £104 price tag places it firmly in the luxury beauty market, but the enormous demand demonstrated that customers were prepared to pay for Victoria’s offering.

The 25,000-person waiting list became a striking indication of the brand’s ability to generate excitement beyond Victoria’s existing fashion following.

And while beauty has provided a powerful source of growth, Victoria has continued to expand her fashion business internationally.

She opened her first fashion shop in the United States with an exclusive pop-up at Bal Harbour Shops, which ran from May to October.

The next major milestone is expected in New York, where Victoria is due to open a permanent store in September.

The new space is set to be particularly significant because it will bring together the brand’s fashion, beauty and fragrance collections under one roof.

That reflects the wider evolution of Victoria’s business.

What began primarily as a fashion label has gradually developed into a broader luxury lifestyle brand, with customers able to buy clothing, cosmetics and fragrance from the same name.

Victoria has also secured major collaborations that have helped bring her designs to a much wider audience.

In April, the brand launched a sell-out multi-season partnership with Gap, reworking the American retailer’s classic staples through Victoria’s distinctive design aesthetic.

The collaboration represented another important step for the label, allowing Victoria to reach consumers who may not ordinarily shop exclusively within the luxury fashion market.

The contrast with the company Victoria described in her documentary could hardly be more dramatic.

Back then, she was worried about losing everything.

Now, her company has posted a £7.3million operating profit, revenue has passed £129million and her beauty division is attracting huge demand.

The transformation also comes at a fascinating point in Victoria’s public career.

Once dismissed by critics as a pop star attempting to reinvent herself as a serious designer, she has spent nearly two decades working to establish credibility within the fashion industry.

Her business journey has included setbacks, financial crises and moments when even she questioned whether the label could survive.

But rather than abandoning the brand, Victoria repeatedly reinvented it.

The latest financial figures suggest that strategy is finally producing the kind of results she once hoped for.

For David, who supported his wife’s business through its most difficult periods, the turnaround is likely to be especially satisfying.

And for Victoria herself, the £7.3million profit could represent something even more personal: proof that the company she once feared losing has become a sustainable business in its own right.

From tears and tens of millions of pounds in losses to sold-out cosmetics, international stores and a major Gap partnership, Victoria Beckham’s business story has undergone a remarkable transformation.

The former Spice Girl may once have been forced to ask her husband for another financial lifeline.

Now, almost two decades after launching her label, she appears to have finally reached the point where the business can stand firmly on its own.

And after admitting that the company was once a source of daily tears, Victoria has every reason to be smiling now.