January 27, 2021
Victoria Beckham Holdings loss widens as beauty set up costs bite
THE WHAT? David and Victoria Beckham have received a total of £21 million in dividends from their sports and media businesses since the end of 2019, according to a report published by the BBC.
THE DETAILS A spokesperson for the celebrity duo said the dividends had been paid out as a result of a ‘profitable performance’ at David Beckham Ventures Limited, which reported a profit of £11.3 million in 2019, down £3.5 million from 2018 figures.
Victoria’s fashion label, Victoria Beckham Holdings Limited is yet to turn a profit but saw sales rise 7 percent in 2019.
THE WHY? DBVL’s fall in profit was attributed to expenditures associated with expansion and charitable donations while VBHL said that its widening loss (£16.6 million in 2019 versus £12.5 million in 2018) was caused by costs associated with the launch of Victoria Beckham Beauty line.
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