Victoria Beckham will be cutting 20 production jobs and will also decrease the size of her collections by 30 to 40 percent. The news was reported by The Guardian.
As the luxury industry is expected to contract 30 to 40 percent, Victoria Beckham is responding to reduced demand accordingly. Originally launching in 2008, Victoria Beckham's label has been met with acclaim from fashion industry insiders, but has been struggling to find monetary success.
The brand counts major retailers as stockists including Bergdorf Goodman, Moda Operandi, and Net-a-Porter. Like most fashion brands, Victoria Beckham was impacted by the economic fallout from the coronavirus pandemic. In 2018, fashion industry veteran Ralph Toledano joined the brand as chairman with hopes to finally help them gain profitability. According to Toledano, prior to the coronavirus pandemic the brand was on track to be profitable for 2020 after years of losses.
photo: courtesy of us.victoriabeckham.com