Pop star-turned-fashion entrepreneur Victoria Beckham has raised £30 million (about $40 million) from growth equity firm Neo Investment Partners in exchange for a minority stake in her namesake luxury label. The terms of the transaction were undisclosed, but market sources say the deal valued the business at £100 million ($133.4 million).
“As the business continues to grow, I appreciate the need for external investment which, in turn, would bring external expertise,” Beckham told BoF. “Neo has shown it can take founder-led businesses with a global outlook to new heights. Our focus is on building a sustainable, profitable luxury brand,” she added.