When Gwyneth Paltrow launched Goop, everyone was puzzled about what her lifestyle brand was really about. It wasn’t entirely a new concept but still, it piqued curiosity and she made it click, making the company a reputable name. Naturally, other business-minded individuals would follow suit – the latest one of whom is Victoria Beckham who is dipping her toes in the industry.
As per rumors, Posh Spice, one of the most aspirational celebrities of all time, is taking it to the United States to rival Gwyenth’s Goop with her business trademarked as ‘Victoria Beckham’ and ‘V.B.’ The brand will reportedly sell beauty and wellness products, pretty much what her staunch competitor currently markets.
Saving Grace
One Daily Mail source believes that Victoria is going to make it big on the other side of the pond since the entire Beckham family is famous in the United States. This can also be a lifeline for her and her husband David’s struggling empire.
S_bukley/Shutterstock | Victoria Beckham is rumored to be launching her own Goop-like business
In recent years, the former Spice Girls member’s business has incurred losses amounting to $53 million. In 2017, a company rumored to be based in Luxembourg poured $38 million into her fashion brand for a 28-percent stake. She and David own 48.4 percent of the Victoria Beckham Holdings Limited while Simon Fuller controls 23.6 percent of the empire.
Since 2013, Victoria’s company suffered massive losses, and sadly, the former footballer’s brand, DB Ventures, also saw its profits fall by around 50 percent in 2017.
Bakounine/Shutterstock | David Beckham has been helping his wife
While they may have their own ventures, the husband and wife help tackle each other’s problems. In fact, David lent Victoria $750,000 to aid her already sinking business – this is on top of investing $29 million in her company in 2018.
Gwyneth Paltrow’s Highly Successful Brand
It doesn’t come as a shock that Victoria is trying her luck in the lifestyle business as Gwyneth showed how lucrative it can be through Goop, a brand she started in 2008 as a weekly newsletter. The ‘Avengers’ star was living with her ex-husband Chris Martin in London when she got this brilliant idea.
Tinseltown/Shutterstock | Gwyneth Paltrow launched Goop in 2008
It became an instant hit, especially with its eyebrow-raising products. Critics point out that if Victoria will indeed create her own lifestyle brand, it would differ from Gwyneth’s in the sense that her items would be classier.
However, just like any business, Goop has endured a major bump a couple of years ago. TINA.org, an advertising watchdog, called out the lifestyle brand for allegedly fooling its customers with deceptive claims on more than 50 products. It was forced to pay $145,000 to settle the mess.
