Victoria Beckham’s fashion label suffers big losses with ‘debts of £53.9million’
ok.co.ukVictoria Beckham 's fashion label has suffered big losses, with "debts of £53.9million", a representative has confirmed. The former Spice Girl and mum of four, 48, made quite the transition from footballing WAG to the toast of Hollywood's fashion crowd, but it seems that all is not as rosy as it would seem on the surface.
A spokeswoman for the star told The Mirror: "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 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." Even though the former Spice Girls' fashion house appears to be in turmoil, the Beckhams' global empire has reportedly doubled its profits.
Annual accounts filed with Companies House in London showed the pair made £11.6m in the year ending December 2020 despite the pandemic – compared to £4.5m in 2019.
Auditor accounts submitted in 2021 voiced concerns over the future of Victoria's fashion brand, which has dressed the likes of Julia Roberts, Jessica Biel, Eva Longoria and Cameron Diaz.
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