In-article:

Victoria Beckham on the brink of bankruptcy? His brand is losing millions!

Victoria Beckham would she be broke? According to DailyMailthe manager of the high-end brand Victoria Beckham Beauty would be indebted to 54 million pounds sterling, or 60 million euros. The past few years have seen a string of losses for Victoria Beckham’s clothing company which she founded in 2008. In 2020, her brand and new makeup business lost 6.6 million pounds sterling (7 million euros). Last year, the brand registered a debt of 15.6 million pounds sterling (18 million euros).

What would explain the debts of the company of the companion of David Beckham? According to a spokeswoman for Victoria Beckham Beauty in a report published in The Mirror this group suffered the consequences of the Covid-19 pandemic: “Victoria Beckham Beauty Group total revenue fell 6% to £36.1m due to the global pandemicsays the report. This group reacted quickly to the effects of the pandemic and controlled its cash and expenses, which led to a significant reduction in its operating losses of 57%, thanks to cost savings throughout the business and recalibrating its business model to make it sustainable for the longer term”. Additionally, according to the report: “Victoria Beckham Beauty continues to expand its portfolio with a number of successful product launches this year featuring best-in-class clean luxury beauty and skincare.

Despite these losses, Victoria Beckham’s global brand would have finally reaped 11.6 million pounds sterling, or 13 million euros.

source site-110