Victoria Beckham’s fashion empire made £8.4million loss last year despite husband David’s £25million injection
VICTORIA Beckham’s fashion empire made an £8.4million loss last year despite husband David’s business stepping in to subsidise it.
DB Ventures, which handles earnings from his image rights, pumped £25million into Victoria Beckham Ltd.
But Posh’s losses for 2016 were 78 per cent up on the previous year’s £4.7million deficit.
The company’s accounts show it sold £36million of her high end clothing, shoes and accessories.
Directors say the negative figures were caused by heavy investment in “design, production and marketing” in a “difficult global trading environment”.
Financial documents also reveal that a debt of £6.8million owed to a related company, Beckham Brand Holdings, has effectively been cancelled.
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BBH was given shares instead of the money owed.
But despite the gloomy figures, the business said it was optimistic about the future.
It said: “The group achieved its overall objective of maintaining its position as a significant luxury fashion brand in the marketplace.”