Victoria Beckham’s numbers don’t add up. After having achieved unanimous critical success with her fashion brand, despite her initial misgivings, the designer would not be achieving profitable enough sales. An audit estimates that in 2019 alone she had nearly 14 million losses. A figure that is assumed to be much worse in 2020, the year in which the pandemic has strongly shaken the textile sector.
According to the British newspaper Daily Mail, through the data collected by an audit, Victoria Beckham’s fashion brand would be in danger due to the constant accumulation of debts, which could lead the former to end her business dream . The figures speak: the losses in 2019 would exceed 13 million euros and in 2018 they amounted to a decrease of 14.2 million. In total, since its foundation in 2008, it is estimated that the company has generated losses of 53.2 million.
To these dire numbers we must add the bad forecasts for 2020, a year in which due to the coronavirus health crisis the fashion industry has suffered a millionaire loss of income. In fact, to face the consequences of the pandemic, the designer took advantage of the aid plan designed by the British government for entrepreneurs. Decision that sparked fierce criticism. “Spoiled prima donna, the rescue plan was not for a millionaire like you,” famous presenter Piers Morgan went on to say on Good Morning Britain.
Finally Victoria took a step back and banished the idea of applying an ERTE that would make 80% of the salary of her employees be paid with public money to face the debts herself. “At the beginning, the shareholders reached an agreement with the management to suspend a small proportion of the staff. At that time we did not know how long the lockdown was going to last or what impact it was going to have on the business,” the British defended in a interview with The Guardian newspaper.
Are we facing the beginning of the end of Victoria Beckham’s fashion firm? “The conditions indicate that there is a material uncertainty that can lead to significant doubt about the company’s ability to continue operating,” states the information shared by Daily Mail.
However, the millionaire status of the Beckhams is not in jeopardy. Although the sources do not quite agree on the fortune figure tamed by the ex-footballer and his wife, the lowest estimate estimates that both have about 380 million euros. According to The Sun, David Beckham earns about 40,000 euros a day just for his image rights. While Victoria, like many other celebrities, has already ventured into the profitable world of cosmetics with her eponymous beauty firm.