Victoria Beckham's fashion empire debts amounts to $ 65.3 million

A report put the losses down to the effects of the global pandemic but, despite this, David and Victoria Beckham's global empire reportedly made $14 million.

The designer brand and her new make-up firm lost $7.9 million in 2020. In 2019, it racked up $17 m in debts, The Mirror reports. 

The concern founded by the former Spice Girl is still in the red at $65.2 m – with $35m owed to the Beckhams ’ other business ventures.

A spokeswoman for Victoria confirmed the figures for her fashion label – which sells $605 jumpers and $485 jeans – were accurate.

A report said: “Total revenues for the Victoria Beckham Holdings group fell 6% to $43.6 m (2019 – $46.3m) due to the effects of the global pandemic.

“This group rapidly responded to the effects of the pandemic and controlled its cash and expenditure which led to a significant reduction in its operating losses by 57%, thanks to cost efficiencies across the business and the recalibration of its business model to make it sustainable for the longer term.

“Victoria Beckham Beauty continues to expand its portfolio with a number of successful product launches this year with best in class in clean luxury beauty and skincare.”

But despite the significant losses, David and Victoria Beckham’s global empire reportedly doubled its profits, raking in $14 m.

Their joint business interests earned the sum in 2020, despite the pandemic. And the pair took out total dividends of $18.1m and paid $3m in tax.

Annual accounts filed with Companies House in London this week show the pair made $14m in the year ending December 2020 – compared to $5.4m in 2019.

Much of the cash was from David’s tie-ins with firms like Adidas, watchmaker Tudor and Haig whisky.