Why Victoria Beckham’s Business Was on the Brink of “Disaster”<\/p>\n
As remembered by David Belhassen, whose Neo Investment Partners bought a third of Victoria’s business in 2017 and helped turn it around financially, he was initially a hard no on the prospect of getting involved.<\/p>\n
“It was a disaster,” he said in the series. They “never made a profit. Frankly, I’ve never seen something as hard as that to fix.”<\/p>\n
Belhassen said he changed his mind after complimenting his wife one night and finding out she was wearing Victoria Beckham\u2014and she loved the brand.<\/p>\n
To be able to help though, he explained, “I needed her to understand if she was really capable of accepting what had to happen. For years she had people telling her what she wanted to hear.”<\/p>\n
Unnecessary expenses included “70,000 a year” on office plants, Belhassen said, and “someone was coming to water the plants for 15,000.”<\/p>\n
Victoria admitted in the doc that her “entertainment background” led to overindulging.<\/p>\n
“I didn’t realize it at the time, but the waste was mind-blowing,” she said. “I had 15 different linings for the insides of the outerwear\u2026Bizarre things like flying chairs from one side of the world to another. I hear it now and I’m horrified, but I allowed that to happen. And I think part of the problem was, people were really afraid to tell me no.”<\/p>\n