In an exclusive interview, David Belhassen, founder of NEO Investment Partners, said revenue rose 42 percent to 58 million pounds last year, with more double-digit growth to come.
In fiscal 2021, the company reported that losses before interest, taxes, depreciation and amortization more than halved to 2 million pounds compared with the previous year.
Belhassen described the business as “healthy” with 3.2 million pounds in bank debt, mostly for working capital. The deal valued the business at around 100 million pounds, and NEO became a shareholder alongside David and Victoria Beckham. These entrepreneurs, he added, conjure “something totally intangible that creates an impulse, a desire,” said Belhassen, who is as enthusiastic about Ladurée macarons as he is about Marcolini’s chocolate bunnies and Beckham’sThe clutch style, part of a major accessories push, will enable Beckham’s business to achieve “more than” 100 million pounds in revenue in the next couple of years, Belhassen said.
The company has also refined its sourcing, supply chain, manufacturing and distribution to ensure that deliveries land on time. Beckham showcases four collections a year, following the seasonal calendar, and has reduced stock keeping units by about 30 to 35 percent, compared with past years.
Belhassen said Beckham has embraced the changes with vigor, positivity and a ferocious work ethic. “Victoria has been unbelievable — on fire — and taking on every single challenge,” said Belhassen, adding that showing in Paris was a “massive” move for her.last September. On Friday, Beckham’s second Paris show will take place once again at the 17th-century church and monastery of Val-de-Grâce in the 5th arrondissement.
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