Exclusive:
Victoria Beckham’s fashion empire has debts of £54MILLION – despite selling jumpers for £500
A report put the losses down to the effects of the global pandemic but, despite this, David and Victoria Beckham’s global empire reportedly made £11.6million
Victoria Beckham has her own clothing label which sells £500 jumpers and £400 jeans
Image: REUTERS)
(
Victoria Beckham’s high end clothing company has debts of £53.9million.
The designer brand and her new make-up firm lost £6.6million in 2020. In 2019, it racked up £15.6m in debts.
The concern founded by the former Spice Girl is still in the red to the tune of £53.9m – with £29m owed to the Beckhams ’ other business ventures.
A spokeswoman for Victoria confirmed the figures for her fashion label – which sells £500 jumpers and £400 jeans – were accurate.
A report said: “Total revenues for the Victoria Beckham Holdings group fell 6% to £36.1m (2019 – £38.3m) due to the effects of the global pandemic.
“This group rapidly responded to the effects of the pandemic and controlled its cash and expenditure which led to a significant reduction in its operating losses by 57%, thanks to cost efficiencies across the business and the recalibration of its business model to make it sustainable for the longer term.
Victoria Beckham’s high end clothing line has debts of over £50m
Image:
( PA)
“Victoria Beckham Beauty continues to expand its portfolio with a number of successful product launches in this year with best in class in clean luxury beauty and skincare.”
But despite the big losses, David and Victoria Beckham’s global empire reportedly doubled its profits, raking in £11.6m.
Their joint business interests earned the sum in 2020, despite the pandemic. And the pair took out total dividends of £15m and paid £2.5m in tax.
Thankfully the couple still made profits with their joint business interests
Image:
( Getty Images)
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Annual accounts filed with Companies House in London this week show the pair made £11.6m in the year ending December 2020 – compared to £4.5m in 2019.
Much of the cash was from David’s tie-ins with firms like adidas, watch maker Tudor and Haig whisky.
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