Becks in £10m bailout for Posh
Star helps wife with crisis-hit fashion firm
David Beckham has helped his wife’s struggling fashion business with a £10million bailout.
Despite her luxury clothes being worn by stars including Meghan Markle, Lady Gaga, Amy Adams and Kendall Jenner, Victoria’s firm made a loss of £10million. So Goldenballs’ company DB Ventures gave it a £ 6.6million cash injection and guaranteed a loan of £ 4million. Another company they own is owed £ 12.2million by Victoria Beckham Ltd, accounts for 2017 filed last December show. The ex- Spice Girl, 44, founded the luxury design firm in 2008 but, despite sales of £169 million by 2016, it broke even in only four f inancial years. A spokesman last year blamed big investments in “design, marketing and sales”.
Last April, Victoria slashed staff numbers by a third and saw a boost in sales. She halved prices in her January sales – a £2495 leopard print coat was on sale at £1247 and a £1535 drape neck midi dress for £767.50.
The revelations come as Victoria launches a tie-in with Reebok – but her workout gear is up to 10 times the cost of similar items in their range. She posed in the Reebok x Victoria Beckham range, where jogging bottoms are £219.95 and a pair of socks is £ 34.95.
One fan quipped: “I’d have to remortgage my house.”
Mum-of-four Victoria has hinted she may join Emma Bunton, Mel B, Mel C and Geri Horner on stage when their Spice Girls reunion kicks off in May. She admitted it was “difficult to say no”. Asked if she would appear with them, she replied: “I don’t know. Let’s see.”
David ,43, paid himself £18.75million after making a profit of £23.2million in the same period. The Beckhams declined to comment.