Victoria Beckham’s fashion business loses £6million
VICTORIA Beckham’s fashion empire posted losses of £6m in the last year of trading.
The designer’s fashion firm and make-up empire are propped up by the other global business interests owned by David, 47, and Victoria, 48, and a further £2m was ploughed into her cosmetics line last year.
The holding company posted sales of £41m – up from £36m – for the clobber and beauty outfits.
But remarkably, her pop music firm actually did turn a profit of £420,000.
Those earnings are believed to come from the proceeds of Spice Girls merchandise and royalties.
Victoria Beckham Holdings Ltd filed annual accounts for the 12 months to the end of December 2021 that make grim reading.
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However a report attached to the books, says that losses were down on the £8.5m the firm haemorrhaged in the previous 12 months and that her clothes beauty lines were expanding across the world.
Overall losses for the firm now stand at £66.3m and directors of the firm that include Posh and Becks were not paid a dividend.
The study says: “The loss for the year, after taxation and minority interests, amounted to £5,887,036 (2020 - loss of £8,581,944
“During the 2021 financial year the ultimate shareholders provided additional loans of £0.6m to the group.”
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In the documents, bosses insist no injection of cash is needed into her companies.
It continued: “The business continues to show double-digit growth across all channels in 2022.
“The Fashion business is now accelerating its geographic expansion with new customers in Europe and Middle East and the brand is expanding into new product categories with the launch of leather goods and the VB Body line in 2022. There has been no cash requirement this year.”
The statement finished: “2021 marks the return to sales growth for Victoria Beckham Holdings Ltd with revenue up 13% to £40.9m, versus £36.1m in 2020.”
Last year it was revealed David and Victoria’s company, Beckham Brand Holdings Ltd more than doubled sales from £11.4million to £34.3million in 2021.
