Victoria Beckham ‘cuts the price’ of luxurious clothing line as company denies ‘debt’ | Celebrity News | Showbiz & TV
Victoria Beckham, 48, has put her luxurious garments on sale for up to 60 per cent off. The singer-turned-fashion-designer has slashed the prices of almost 200 articles on her website amid rumours that her fashion business is failing. However, a spokesperson for the company has since confirmed: “The balance sheet is good, there is no bank debt.”
“Explore the VB sale with up to 60 per cent off key styles,” the website of David Beckham’s wife read.
The items on sale include sunglasses, coats, gym wear and dresses.
This comes after a report published by The Mirror revealed that the latest accounts for Victoria Beckham Holdings Ltd show it made losses of £5,887,036 in 2021, down from £8,581,944 in 2020.
The study claims: “The loss for the year, after taxation and minority interests, amounted to £5,887,036 (2020 – loss of £8,581,944.”
READ MORE: A Place in the Sun’s Danni Menzies unveils injuries after moped crash
“During the 2021 financial year the ultimate shareholders provided additional loans of £0.6m to the group,” it added.
For example, a green dress in the sale section is down 40 per cent from £990 to £594, while a camel coat is also 40 per cent reduced from £1,590 to £954.
The fashion designer launched her fashion label in 2008 with a small collection of dresses. It swiftly grew to an extensive range that now includes handbags, coats, shoes and accessories.
This means overall losses for the firm now stand at £66.3m since its launch in 2008 and directors of the firm – including Victoria and her husband David – were not paid a dividend.
“With the successful launch of leather goods in 2022 and the continuous acceleration of sales growth in Beauty, we have high expectations.”
It comes as Victoria recently defended her son Brooklyn Beckham, 23, after he showed off his cooking skills on Instagram.
The budding chef cooked up a piece of rare beef, that some viewers called “raw”.
Sharing Brooklyn’s video on Instagram, the designer penned: “Inspiration for Sunday’s roast. I’ll be attempting this for your dad and brothers and sister!”