Victoria Beckham taps Pablo Sande as CFO
He will be responsible for turning around the designer fashion label. “I am looking forward to changing the direction of the company: we must go from losses to profits. It is a big challenge and I am sure it will be highly rewarding,” he told Spanish newspaper La Voz de Galicia.
Victoria Beckham launched her eponymous brand in 2008, and although the label has become a leading name in the global fashion stage, it has been struggling to turn a profit. In the 2018 financial year, the company reported losses of £10.1 million (€11.2m), up by £2 million on the previous year, despite revenues rising to £42.5 million (€47.2m).
As its new CFO, Pablo Sande will seek to reverse the company’s fortunes. He brings a wealth of experience managing the financial departments of international fashion brands. According to his LinkedIn account, he cut his teeth as an accountant at Inditex, where he worked for more than two years, rising to finance accounting manager in 2005.
After that, he spent more than a decade at luxury brand Burberry, holding various senior roles at its offices in London and New York, including finance director for the Americas region. Most recently, he was chief financial officer of Salvatore Ferragamo in the Americas.
At Victoria Beckham, Sande will serve under chairman Ralph Toledano, who took the helm of the fashion house following the immediate departure of former CEO Paolo Riva last Friday. The search for a new CEO to replace Riva, who stepped down for personal reasons, is already underway.
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