Lend it like Beckham: David bails out Posh’s failing fashion firm with £5.2million

EXCLUSIVE INVESTIGATION: It’s Goldenbails as Victoria loses £3.8m despite topping business list

Family business ... last year Brand Beckham was estimated to be worth £500million

VICTORIA Beckham’s fashion empire was bailed out by Goldenballs husband David after being swamped with costs of almost £38million.

Posh shop ... Victoria's shop in Mayfair, which cost £2,854,091 to set up

It left her brand with a £3.8million deficit for 2014 despite a turnover of £34million. Becks, 40, stepped in with £5.2million after Victoria spent £2,854,091 setting up an architect-designed shop in Mayfair, central London.

Former Spice Girl Victoria launched her fashion label in 2008 and in 2011 won designer brand of the year at the British Fashion Awards

Accounts reveal she signed a ten-year lease on the three-storey outlet with an annual rent of £650,000. At the time Posh, 41, topped a list of Britain’s top 100 entrepreneurs with a management magazine praising her “finely tuned business acumen”.

Dress to impress ... David and Victoria enjoy a Posh night out

 The store’s cheapest item is a £150 leather card holder. A Victoria Beckham key ring costs £165.
The most expensive item is a simple white structured dress at £2,650. Handbags are £1,690 and £1,850.

 Her store’s VIP section has a £600,000 Damien Hirst artwork and offers customers champagne as they browse. The website cost £670,641 and the highest paid director, believed to be Victoria, received £455,000.


The Director’s Report said: “As part of the corporate restructuring planned last year, the company is now focused purely on the Victoria Beckham fashion business and the Victoria Beckham brand.

“As such, the contracts held by the company relating to the David Beckham brand were transferred during the year to DB Ventures Ltd, a sister company of David Beckham Brand Holdings Ltd which is focused on exploiting the David Beckham brand.”

Chartered accountant and tax lecturer Robert Leach told The Sun: “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.”

The former Spice Girl launched her fashion label in 2008 and in 2011 won designer brand of the year at the British Fashion Awards.

She opened the Mayfair shop in September. On Thursday just 11 out of 86 people who visited left carrying shopping bags. They included a man in his 40s and his son, dropped off by a chauffeur, and a group of five tourists. Two mopeds picked up bags for delivery.

Whatever the shop finances, David and Victoria need not worry. Last year Brand Beckham was estimated to be worth £500million.