16.4 C
London
Saturday, May 18, 2024
HomeBusinessBeckhams make £8m, yet Victoria's fashion line loses money.

Beckhams make £8m, yet Victoria’s fashion line loses money.

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.

Beckhams make £8m, yet victoria's fashion line loses money.
Beckhams make £8m, yet victoria's fashion line loses money.

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.

Victorias fashion line loses money
Beckhams make £8m, yet victoria's fashion line loses money.

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.

RELATED ARTICLES

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Popular

Nagelsmann ignores Hummels, opts for regulars at Euro 2024

Nagelsmann disregards Hummels and stays with the Euro regulars. Germany national football coach Julian Nagelsmann ignored the late claims of Borussia Dortmund's Mats Hummels and Julian Brandt when he named a nearly unchanged squad for the 2024 Euros. Dortmund advanced to the Champions League final, where they will face Real Madrid, thanks to the contributions of 2014 World Cup champion Hummels and midfielder Brandt. However, Dortmund manager Jurgen Nagelsmann stated on Thursday that he preferred to stay with the squad that defeated France and the Netherlands in March.

The eight indicators of identity hacker and how to prevent it

Identity theft reports are rising in the US; by 2023, over 15 million people will have reported identity theft. In a time when hackers can easily penetrate your phone's security and obtain your passwords, there are eight subtle indicators that can help you thwart cybercriminals and protect your identity. Experts claim that most identity theft protection services are ineffective because they don't notify you when your finances, accounts, or credit score are at risk.

US tariffs on Chinese imports benefit whom? The experts weigh in

This week, the United States and China fired their latest salvo in the ongoing trade war, a move that coincides with a heated campaign for the White House. On Tuesday, US President Joe Biden announced $18 billion in tariff increases on imports of various Chinese products. Lithium-ion batteries comprise $13 billion of the overall imports, with medical gloves and syringes, in addition to specific steel and aluminum products, accounting for the remaining $5 billion.

The president-elect pleads for unity as Robert Fico recovers from the shooting

According to officials, Slovakian prime minister Robert Fico is in a stable condition but is "not yet out of the woods." The country's president-elect pleaded for unity after a shooting exposed the country's profound political divisions in recent months. The shooting, which marked the first significant attempt at assassinating a political leader in Europe in over two decades, caused widespread concern throughout the continent. Leaders attributed the violence to a progressively tense and polarized political atmosphere in European nations preceding the June elections for the European Parliament.

Recent Comments