Your fashion empire has accumulated 64 million euros in debt
Victoria Beckham’s fashion company has booked a debt of 64 million euros in recent years. A spokeswoman confirmed this to the British newspaper “Mirror”.
Victoria Beckham, 48, made a name for herself as a designer after her time with the “Spice Girls”. With her fashion label, founded in 2008, she has expanded her image as a stylish fashion icon. But the company is in the red. As “Mirror” learned, the sum of the debts amounts to 64 million euros.
Victoria Beckham: Losses are believed to have been due to the pandemic
As Beckham’s spokeswoman confirmed to the British newspaper, the make-up company and the designer label of David Beckhams, 47, suffered a loss of 7.8 million euros in 2020. This is on top of the €18.45 million in debt Victoria’s brand amassed in 2019 alone. Another 34 million euros have been borrowed from Beckham’s subsidiaries.
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According to a report obtained by Mirror, “Total revenue for the Victoria Beckham Holdings group fell 6 per cent to £36.1m [etwa 42,7 Millionen Euro, Anm. d. Red.] due to the effects of the global pandemic.” However, the company acted quickly. Through targeted control of expenditure, the empire was even able to “reduce operating losses by 57 percent”.
The designer wants to expand her company further
Giving up your business is apparently out of the question for Victoria Beckham. “It’s what gives Victoria her identity, she loves it and despite the obvious obstacles, she’s an avid advocate and very passionate about it,” an insider told the Daily Mail. The Beckham family is said to have made a profit of 14 million euros in 2020 despite the losses of Victoria’s companies.
Victoria’s spokeswoman also emphasizes the continued existence – even speaks of an expansion of the brand: “Victoria Beckham Beauty continues to expand its portfolio with a series of successful product launches this year that are among the best in their class in the field of pure luxury beauty and skin care.” Is that the best idea? Auditors are already expressing “considerable doubts” about the stability of the company.
Sources used: mirror.co.uk, dailymail.co.uk