LONDON — Victoria Beckham Ltd. saw revenue and profits rocket in 2023, with the company reporting “substantial” growth in wholesale, online and in the Mayfair flagship.

The privately owned company issued a results update four months earlier than usual, reporting a 52 percent uptick in total revenue to 89.1 million pounds compared with the previous year.

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Last year was the third consecutive period of high-double-digit growth, and the brand added that sales momentum has continued into 2024, across all product categories and despite lackluster demand in the luxury market.

In 2023, adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization, reached 1.8 million pounds, compared with 200,000 pounds in 2022.

Operating losses fell to 200,000 pounds from 900,000 pounds as the company continues to focus on streamlining the business, driving efficiencies and becoming profitable.

David Belhassen, founder of NEO Investment Partners, which holds a significant minority stake in the business, said that “in the context of a difficult environment, the brand has sustained very high growth” and has seen improving EBITDA.

“The team is working hard to continue building the House of VB on ever stronger foundations. The priority remains the development of products with the highest standards to offer our community total satisfaction,” Belhassen added.

Earlier this year, Belhassen hinted at the increase in EBITDA and in an interview said: “The house of VB is now fully live, and a reality. It was a dream for Victoria and I when we partnered, and it is happening. We are now embarking on a new phase with only the sky as the limit.”

NEO purchased its stake in Beckham’s business for about 30 million pounds in 2017.

Marie Leblanc, chief executive officer of Victoria Beckham Ltd., said that following a repositioning in 2021, 2023 was “a very strong year of progress for the company. We continue to build a loyal consumer following on the back of successful Paris Fashion Week shows and new partnerships, with performance across direct-to-consumer channels and leather goods being particularly positive.”

The company said that last year it saw “substantial growth” in fashion and accessories sales across all three of its channels: wholesale, online and the flagship at 36 Dover Street in London’s Mayfair.