Victoria Beckham’s fashion label continues to be loss-making, but as sales rise, losses are shrinking, with new labels set to appear at the company’s house.
The 14-year-old company has been in losses for nine years and the accounts come with another dire warning from auditors about the future.
But there is little concern that the business understands its wealthy owners – who include Victoria and David Beckham and Neo Investment Partners – are ready to back the company with further cash injections, although no specific commitments have been made on that front. .
2021 loss to £5.9 million – better than last year’s deficit of £8.6 million – sales rose a healthy 14% to £41 million.
The previous year was occupied by the mass operation and the outbreak of the London flag.
CEO Marie LeBlanc also said recent results were helped by strong beauty sales as the business expanded in this key growth area. She said the 2022 figures will be even stronger as the company is focused on the new phase and accelerating growth.
Companies House filings for DB Ventures also revealed that Victoria Beckham’s highest-paid director received £2.1 million for the year, with that man believed to be David Beckham. David and Victoria Beckham both received £6.3 million in dividends from the holding company.
The couple has extensive business interests and works in several companies. In addition, Beckham Brand Holdings, which oversees their business empire, reported a net profit of £34.3 million on a net profit of £10.1 million for the year. Last year’s figure was a profit of £11.6m on sales of £11.4m, the wider gain being due to investment income from the partnership.
Include David Beckham’s recent controversial deal to promote Qatar. In the year In early 2022, True Brands Group entered into a joint ownership agreement for Beckham’s global brand and became a shareholder of ABG.
It has long-term sponsorship deals with Adidas, Tudor Watches and other brands.
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