Victoria Beckham presented her spring-summer 2027 collection at the Conciergerie, the medieval palace in the heart of Paris, and it wasn't an ordinary show. The brand has just closed a record year: revenue grew 15 per cent, and the company is running at an operating profit for the first time. That also means every year before this one was without one - the former pop star's fashion career finally has the accounts to match the image.

Forty-four looks came down the runway. The tailored suits, strict and precise, were balanced with relaxed silhouettes, light fabrics and simple pieces that move easily from day to evening. Soft shades of mint green and powder pink brought freshness, and floaty dresses with pleats, draping and big bows were the romantic counterpoint to the sharp tailoring. Among them - jeans, as a reminder that luxury today has to be wearable on a Wednesday morning, not just on the red carpet.

Support came from the family: David, the children with their partners, and daughter Harper. Missing were Brooklyn and Nicola - an absence the tabloids won't let slide, and one that shows in the family photo from the show more clearly than any look on the runway.

The numbers are what make this show news. Fashion sells the image of success very easily, and a balance sheet in the black far less so. How many of the brands we see on runways and magazine covers actually make money - and how many just look good while losing it?