David and Victoria Beckham received an £8 million dividend from their business empire, despite Posh’s fashion line continuing to lose money.
The power couple, whom this year celebrated the wedding of their eldest son Brooklyn to American heiress Nicola Peltz, entered 2022 feeling flush as a result of increased revenues across all of their companies after lockdowns.
In reports filed yesterday, Beckham Brand Holdings, the umbrella company for Mr. Beckham’s investments and branding and Mrs. Beckham’s fashion and cosmetics firm, reported that profits for 2021 reached £19.1 million, up from £11.6 million the previous year.
The majority comes from Mr. Beckham’s 47-year-old DB Ventures; the former England footballer’s brand is licensed to companies such as Electronic Arts, Adidas, Tudor, Haig Club, and Maserati.
The revenue of DB Ventures increased from £11.4 million to £34 million, while net income increased from £12.9 million to £24.1 million.
Mrs. Beckham’s arm, which in the past has been buoyed by her husband’s success, saw its losses decrease from £ 8.7 million to £ 5.9 million while sales increased by 13% to £ 40.9 million.
In 2021, Victoria Beckham Holdings, which is partially owned by the Beckhams and London private equity firm Neo Investment Partners, initiated a recovery strategy.
It united two fashion lines, the flagship line and the ‘playful’ sibling label VVB, under one brand and “reshuffled” all of its processes, from sourcing and manufacture to delivery.
CEO Marie Leblanc stated, “The turnaround of Victoria Beckham Limited in 2021 was successful, and 2022 is expected to be an even stronger year.” We have begun a new chapter, and our focus is on accelerating growth and maximizing the brand’s potential.
With the successful debut of leather goods in 2022 and the continued acceleration of beauty sales development, we have high hopes.
In 2021, Beckham Brand Holdings paid the Beckhams a total dividend of £6.3 million plus an additional £1.8 million after the end of the year.
Additionally, the company controls Mr. Beckham’s share of the US soccer team Inter Miami, which he co-owns with Jorge and Jose Mas.
According to the financial statements, his ownership in the football club was worth £23 million by the end of 2021.
