This latest move could be a lifeline for Victoria Beckham’s company’s finances. She’s worked up $53 million in losses since 2016. In 2017, a Luxembourg-based company sunk $38 million into her fashion empire for a 28% stake in the company. Victoria and David Beckham control 48.4% of the shares of her company. Simon Fuller owns 23.6%. Victoria Beckham Holdings Limited has had losses every single year since 2013. Conversely, her husband’s company, DB Ventures saw his profits fall by roughly 50% from 2017 to 2018. David lent Victoria more than $750,000 to revive her business, this is after he sunk $29 million into her company in 2018. Victoria’s fashion empire’s revenue is down from $53.4 million in 2017 to $45 million in 2019. Losses have skyrocketed to $53 million. Posh’s company has also breached the terms of a $12.5 million loan from HSBC a number of times. Due to these numbers, the company was restructured last year in hopes that it would then be closer to Beckham’s own aesthetics. Beckham’s fashion empire also has $37.7 million in new financing to attempt to rescue the brand. That money was used to hire new executives. There are also claims that David Beckham sunk nearly $14 million of the profits from his business into Beckham Brand Holdings, which he and Victoria co-own. The losses in Victoria’s fashion company have been blamed on a number of things, including Beckham’s own designs as well as marking and sales. Here’s hoping she can turn it around. Word of advice, Posh Spice, perhaps $11,000 for a coat is a bit steep for the current market.
