Victoria Beckham’s fashion empire loses £4.6m… and even has debts of £6.7m to hubby David’s firm
The label made £36.5m last year but still ended up in the red
VICTORIA Beckham’s fashion empire may have helped to earn her an OBE — but it has also reported a £4.6million loss.
The designer brand boss’s firm owes one of her husband David Beckham’s businesses £6.7million after he continued to lend it money.
Latest accounts reveal her Victoria Beckham label made £36.5million in sales in 2015 — but still ended up in the red.
In March last year The Sun revealed how her firm, set up in 2008, reported a profit after David’s company transferred £5.2million.
His DB Ventures posted a £44million profit yesterday with paperwork referring to “a £3million pledge — along with Beckham Brand Holdings Ltd, to secure the banking arrangements of Victoria Beckham Ltd”.
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It also states: “At the balance sheet date, the amount owed by Victoria Beckham Limited was £6,671,744.”
Victoria’s fashion range – where dresses typically sell for £2000 - has a London store and this year launched a partnership in Hong Kong and a collaboration with Estee Lauder.
A high street range of more affordable clothes is set to be launched this spring with American retailer Target.
The accounts show the highest paid director, believed to be Victoria, paid themselves £700,000 while the company employed 138 staff at a combined cost of £7.3 million.
A spokeswoman for Beckham Brand Holdings said: “These businesses may be funded in different ways at any point in time.”