Victoria Beckham's beauty firm suffers £4.7m loss — as total losses hit £16.5m
VICTORIA Beckham’s beauty range has seen her suffer an ugly loss of £4.7million.
Yesterday Victoria Beckham Ltd, which covers just her fashion firm, showed a loss of £11.8million.
Last month parent company, Victoria Beckham Holdings, which covers fashion AND beauty, released figures showing a loss of £16.5million.
The £4.7million gap is a major blow to the ex-Spice Girl and mum-of-four, 46.
Designer Victoria set up the make-up and skincare range in January 2019 and it started trading that October. She hoped it would lift the fortunes of her fashion brand, launched in 2008 but which has reported increasing losses.
Its latest available figures, covering 2019, do show the clothes line reduced losses for the first time in seven years — by £500,000.
An insider said: “Victoria’s cosmetics range proved popular to begin with, and many lines sold out within days. But even taking the extensive set-up costs into consideration, the balance sheet suggests it has got off to a challenging start. It remains to be seen how well the business can recover.”
Victoria Beckham Ltd declined to comment.
This week we told how the stars’ sister Louise Adams has a job ushering cars into a Covid testing centre in Essex.
GOT a story? RING The Sun on 0207 782 4104 or WHATSAPP on 07423720250 or EMAIL [email protected]
Source: Read Full Article