Victoria Beckham’s fashion business has received a cash injection of £30m from an investment firm spearheaded by the man behind the rise of French bakery Paul in the UK.
The injection by Neo Investment Partners, which is led by David Belhassen, a former Goldman Sachs banker who ran the bakery chain in the UK from 2000 to 2010, values the business at about £100m.
Funding from private equity group NEO Investment Partners will go towards opening more Victoria Beckham-branded stores and expanding the fashion retailer’s online presence.
The investment will allow the label, which employs 180 people globally, to move into new headquarters in west London next year.
Victoria Beckham currently has stores in London and Hong Kong and the brand is stocked in over 400 department stores.