Victoria Beckham names new CEO from within its own ranks
today Oct 7, 2019
Victoria Beckham has found a new CEO from among its own ranks with Marie LeBlanc de Reynies taking over the role with immediate effect. She has worked for the company since 2018, becoming managing director of brand and product — a completely new role — in May. She takes up the post left vacant by Paolo Riva, who left before completing his first year there.
The new CEO has a powerful track record in the European fashion sector having been divisional merchandising manager-head of buying at the Printemps department store for almost four years before her move to Victoria Beckham. She was also senior product development manager at Celine, working between Paris and London, for two years, as well as collections manager at American retro, and collections assistant at Isabel Marant for a year back in 2006.
The company has been without a permanent CEO since July when Riva stepped down for personal reasons and has been run by chairman Ralph Toledano who took over as interim CEO.
His permanent replacement faces major challenges at the brand, which remains loss-making, despite its high profile and its ability to win the social media engagement battle at any fashion week its participates in.
Earlier this year it was reported that the company had received £23 million in cash injections from David Beckham in recent years. In 2017, the last year for which accounts are available, the business reported sales up 17% to £42.5 million but the operating loss growing from £2 million to £10.2 million.
The company is backed by private equity firm NEO Investment Partners and has just launched into the beauty sector.