Beckhams net £8m windfall but Victoria’s fashion range is still in the red: Posh making a loss
Davidand Victoria Beckham have shared an £8m dividend from their business empire – even though Posh’s fashion range is still making a loss.
The power couple, who this year celebrated the marriage of their eldest son Brooklyn to American heiress Nicola Peltz, entered 2022 feeling flush after sales across their ventures surged following lockdowns.
Beckham Brand Holdings, which acts as the umbrella company for Mr Beckham’s investments and branding and Mrs Beckham’s fashion and beauty firm, revealed in accounts filed yesterday that profits for 2021 hit £19.1m, up from £11.6m a year earlier.
Power couple: The Beckhams entered 2022 feeling flush after sales across their ventures surged following lockdowns
Most came from 47-year-old Mr Beckham’s DB Ventures – the former England footballer’s brand is licensed to the likes of video games producer Electronic Arts, Adidas, watch company Tudor, whisky brand Haig Club and car manufacturer Maserati.
DB Ventures’ turnover shot up from £11.4m to £34m, while profits climbed from £12.9m to £24.1m. Mrs Beckham’s arm, which has in the past been propped up by her husband’s success, saw losses fall from £8.7m to £5.9m as sales climbed 13 per cent to £40.9m.
Victoria Beckham Holdings, part-owned by the Beckhams and part-owned by London private equity firm Neo Investment Partners, kicked off a turnaround plan in 2021.
It merged two fashion lines – which had included the flagship range and the more ‘playful’ sister line VVB – under one brand, and ‘reshuffled’ all of its processes from sourcing and manufacturing to deliveries.
Chief executive Marie Leblanc said: ‘2021 saw the successful turnaround of Victoria Beckham Limited and 2022 is set to be an e n stronger year. We have entered a new chapter and our energy is focused on accelerating growth and taking the brand to its full potential.
‘With the successful launch of leather goods in 2022 and the continuous acceleration of sales growth in beauty, we have high expectations.’
Beckham Brand Holdings paid a total dividend to the Beckhams of £6.3m over the course of 2021 plus another £1.8m after the year ended.
The company also owns Mr Beckham’s stake in US ‘soccer’ club Inter Miami, which he owns along with brothers Jorge and Jose Mas.
As of the end of 2021, according to the accounts, his stake in the football club was valued at £23m.