As her label loses £4k a day, can front row of 5 Beckhams help to save Posh?
WHEN your business is losing money, it must be a comfort to know you have the support of your nearest and dearest.
And Victoria Beckham’s family were out in force yesterday as the designer’s fashion label celebrated ten years by making its catwalk debut at London Fashion Week.
It came as it was revealed that the brand accumulated losses close to £12million – equal to £4,000 a day – over its first eight years.
Despite the bad news, there were smiles in the front row from husband David, 43, and children Brooklyn, 19, Romeo, 16, Cruz, 13, and seven-year-old Harper.
At the end of the show the 44-year-old former Spice Girl took to the catwalk in a pair of her own label’s black trousers featuring split seams above her feet.
The event, at a Mayfair gallery, saw her showcasing her collection for spring and summer 2019. But earlier it had emerged that over the first eight years for which full accounts are available, Victoria Beckham Limited accumulated losses totalling close to £12million.
The label’s net liabilities increased by more than £ 8.5million during 2016, according to the most recent financial statement available. Mrs Beckham generated sales of almost £169million over the eight-year period but has broken even in only four financial years.
Directors said the brand had continued to ‘invest heavily in design, production, marketing, sales and other overheads to ensure that identified growth opportunities can be fully exploited’. The company also signed a deal with Reebok, which will ‘further enhance future profitability’.