Victoria Beckham raises £30m investment for new store openings

The man behind the rise of French bakery Paul looks to expand the number of Victoria Beckham fashion stores

Victoria Beckham was described as an "inspiration" by investor David Belhassen (Getty)

Victoria Beckham’s fashion business has received a cash injection of £30m from an investment firm spearheaded by the man behind the rise of French bakery Paul in the UK.

Funding from private equity group NEO Investment Partners will go towards opening more Victoria Beckham-branded stores and expanding the fashion retailer’s online presence, the company said.

Founder, creative director and former Spice Girl Victoria Beckham, said NEO “understands my vision and my wish for the company to retain its independence, as well as my commitment to continuing to develop the brand with a unique, forward-thinking approach.”

David Belhassen, founder and co-manager of NEO Investment, described Ms Beckham as “one of the most exciting entrepreneurs” and “an inspiration to millions of women around the world”.

Victoria Beckham Ltd, which raked in £36m revenue last year, is controlled by Beckham Brand Holdings, a joint venture run by both Ms Beckham, her husband David Beckham and former Spice Girls manager Simon Fuller’s XIX Entertainment.

"I am so proud of Victoria's success and all of the hard work that has gone into building the business over the past ten years”, said Mr Beckham. “I am sure the next decade will be even more exciting."

Victoria Beckham currently has stores in London and Hong Kong and the brand is stocked in over 400 department stores.