Celebrity David Beckham tells Victoria: ‘Give up on your dream’

As Victoria Beckham’s business continues to make a loss, and after being hit by the pandemic, husband David wants some change

To most, Victoria Beckham seems like a hugely successful businesswoman, especially after having launched her own fashion brand in 2008. Every year, the front row for her show is packed with the crème de la crème of the industry, including Vogue editor Anna Wintour and A-listers such as Kate Winslet and Gwyneth Paltrow, who have been lining up to wear Victoria Beckham dresses for years. Her fashion label was even named Designer Brand of the Year in 2011.

With boutiques in London and Hong Kong, as well as around 400 global stockists, you would imagine that Victoria Beckham’s brand is doing really well. But the truth is Victoria Beckham Limited has not made a profit since its launch – and it seems that her husband David, 45, has been bailing her out.

‘It’s no secret that Vic’s business has been bleeding cash for years now,’ an insider close to Victoria said, adding, ‘David knows how much the business means to her, and has always been supportive, but he thinks it’s perhaps time to call it a day now and give up on the dream. She has proven herself as a fashion designer and is keen for them to pursue other things’.

In 2018, Vic’s fashion company reported a loss of £12.3m. In 2019, it lost £11.8m, and in 2018, a ‘mystery shareholder,’ believed to be David, offered the company a £16m bailout. Tellingly, accounts for David’s business, Footwork Productions, showed he invested £15.5 million into ‘an associated company’ around the same time.

The pandemic has hit 46-year-old Victoria’s business even harder and she and the team are doing all they can to stay afloat, stating in financial accounts they’ve taken ‘all actions possible to conserve cash’, including not spending anything on non-essential items, and put a hiring freeze in place. The former Spice Girl was forced to cut a fifth of her staff in July last year and Victoria’s top designer Ilaria Icardi, who’s been dubbed the company’s ‘creative brains’ is leaving the brand later this year too ‘ by mutual agreement’, after seven years at the helm.

Auditors BDO, who signed off on the business’ accounts, warned that the company is now reliant on shareholder support – and David is said not to be keen on putting any more money in, having already spent millions on his wife’s venture.

Meanwhile, David Beckham Ventures Limited, the brand management firm owned by the couple, is

still very successful – having made profits of £11.3m in 2019. And instead, David wants to focus his attention and money on the football club he part owns, Inter Miami CF.

‘Moving forwards, it seems as though David’s got a lot of exciting plans for the future, with his advertising deals and football club in Miami, but there’s nothing really outlined for Vic, except trying to keep her fashion career alive,’ said the source. ‘He doesn’t understand why she won’t change direction – especially because her fashion line has been a real strain on their business relationship. He says that he can’t keep bankrolling her company, as he needs to put everything into Miami, and he can’t risk their fortune and future on it.’

It looks like Victoria may have to budge on this one…