10 DAVID & VIC­TO­RIA BECK­HAM

Essex Life - - RICHEST 50 -

Fash­ion & Foot­ball 2018: £340m 2017: £300m (12th)

The Beck­hams are beef­ing up their com­mer­cial in­ter­ests while con­tin­u­ing to earn well from the skills which ini­tially earned them money. While Vic­to­ria is set to reprise her role as ‘Posh’ in some form of Spice Girls re­union, her hus­band is start­ing a new Ma­jor League Soccer fran­chise in Mi­ami. But the cou­ple’s big­gest break over the past year is a £30m pri­vate eq­uity in­vest­ment in Vic­to­ria’s strug­gling fash­ion line. The money poured in by David Bel­has­sen, the man who fi­nanced the growth of the patis­serie chain Paul, val­ued the fash­ion la­bel at £100m. The pair, who di­vide their time be­tween the United States and UK, are both launch­ing their own cos­metic ranges. David mean­while has a new grooming brand with L’Oreal called House 99, while his wife is de­vel­op­ing a fra­grance and skincare range with Es­tee Lauder. Foot­work Pro­duc­tions, David’s main com­pany, paid a div­i­dend of £12.7m in 2016. The sep­a­rate Beck­ham Brand Hold­ings, a third of which is owned by im­pre­sario Si­mon Fuller, showed a div­i­dend of £10.2m in the same year. Fi­nan­cial state­ments for Vic­to­ria’s epony­mous fash­ion la­bel do not make pretty read­ing, show­ing a loss of £8.5m in 2016, debts of £13.1m and flat sales. But the pri­vate eq­uity in­vest­ment, which aims to pay for a dig­i­tal op­er­a­tion and more stores, jus­ti­fies a stronger val­u­a­tion for the business. We raise the golden cou­ple to £340m – a fig­ure which in­cludes £15m, less tax and spend­ing, for the div­i­dends.

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