Victoria Beckham's fashion empire may be in trouble.
Soccer stud David Beckham has reportedly helped bail out his wife Victoria Beckham's fashion empire after her designer brand lost an estimated £3.8 million ($7.29 million) in one year.
In 2014, the former Spice Girl opened up her nearly £3 million posh shop in London's Mayfair area, but times were tough so her husband reportedly stepped in with £5.2 million ($9.98 million). Victoria Beckham Limited would have reported a £3.8 million loss had it not been for David.
Chartered accountant Robert Leach told Britain's The Sun newspaper, "The accounts suggest it is a transfer of operations between companies owned by Victoria and David. In effect the couple are simply moving the profits between themselves."
While Victoria's fashion brand may be having a tough financial year, in 2015, the Beckhams were said to be worth more than the Queen of England.
The London School of Marketing analyzed their business ventures and estimated that their fortune is as much as £508 million, which is approximately $728.7 million!
David is said to have made $228 million in soccer revenues alone.
But regardless of his financial assistance, Victoria is a fashion icon with a brand that has been noticed for its couture and ready-to-wear collections. In 2011, Victoria won designer brand of the year at the British Fashion Awards.
Her company was further praised two years ago when she was named Entrepreneur of the Year 2014 by Management Today magazine for creating "a company that is both real and wildly successful."
The magazine said she was "an adept exploiter of her own celebrity value."
That value is undoubtedly high as are the prices of the items in her store.
The store's cheapest item is a £150 ($215) leather card holder, and a Victoria Beckham key ring will run you 15 more pounds than that.
Being posh costs!
- Jan. 16, 2018 Check out Chris Hemsworth's best (and worst) films