As one of the richest families on the celeb circuit, you might think the Beckhams could write the book on fame and fortune. But even global stardom has not made them immune to financial woes, and once again, it’s Victoria bearing the brunt. According to reports, the designer’s high-end fashion brand – which she launched in 2008, with just a single line of dresses – now has debts of almost £54million.
Victoria’s fashion line has expanded over the years to feature £500 jumpers and £400 jeans, and she went on to launch a make-up brand in 2019. But financial warning signs became apparent in 2020, when both ventures collectively lost £6.6m in 12 months. The year prior, the businesses had racked up £15.6m in debt, with a spokesperson for Victoria confirming in a recent report that the figures for her fashion label were accurate.
And the outlook gets bleaker, as it has also been alleged that £29m is owed to the Beckhams’ other business ventures. Six years ago, it was reported that retired footballer David – who brings most of the money to their estimated £339m fortune, thanks to lucrative marketing deals with brands including Adidas and Haig whiskey – bailed out Victoria’s fashion empire with £5.2million after her brand lost £3.8million that year.
Amid speculation that Victoria, 48, could be stepping away from her fashion company, we’re told that turning to her husband could be the only way to save it. Our insider reveals, “Before David launched his Inter Miami football club in the US, he never really understood commercial pressure. Now that he does, he’s supportive of Victoria’s desire to do things the VB way. But he’s also telling her she needs to listen to the experts and the market in terms of pricing. Brand Beckham can’t keep bailing out her label and changes need to be made.”
According to another report, a number of Victoria’s products are being sold for up to 70 per cent off on a luxury online discount store, with the price of one dress slashed by almost £1,300. Our insider adds, “The company has run up huge losses, and the only way out of the hole is to start selling more and cutting costs– which means lower prices, lower quality and all the ‘tacky’ things Vic doesn’t want. She has always been adamant that the VB name was
to be associated with the most luxurious and high-end products, which makes them essentially unaffordable for the masses. The management have other ideas, so there’s been a lot of urgent discussions."
There was once a time when the fashion brand seemed unstoppable. In 2011, the label was named the Designer Brand Of The Year and it was loved by A-list celebrities from London to LA. And, despite the hardships, VB has never lost her zest for fashion and her services to the industry saw her made an OBE.
In April, the former Spice Girl launched her VB Body range and explained that the inspiration came from wanting to feel glam again. She said, “For quite a few years, the more time I spent working in fashion, the more clothes I wore and I ended up buried under all these ‘fashion’ layers. Last year, when I was in Miami and starting to go out again post-COVID, I wanted a change. I wanted to feel sexy again.”
And heat has learned that, although Vic is still obsessed with her brand after all these years, she is considering putting all her energy into her beauty line instead.
We’re told, “Vic is very defensive about all the failings. The fashion business is a headache, and she’s really unsure how much more of it she wants to take in terms of the impact on her personal life. If she could just do the beauty line, she would be happier. She even jokes that she’s gone into semi-retirement and that she needs to start taking all those holidays she never took for 25 years.”