David Beckham 'bails out wife Victoria's fashion empire'
David Beckham has reportedly bailed out his wife Victoria Beckham's fashion empire after her high-end designer brand lost $6 million in just one year.
Victoria opened her new $4.8 million shop in London's posh Mayfair district in 2014, with the luxurious high-end store including a VIP area and artwork by British designer Damien Hirst adorning the walls.
However, after an apparently disappointing few months for the
ex-Spice Girl, her husband David is said to have stepped in to
help, giving her $8.3 million to push through the difficult
time.
Chartered accountant Robert Leach told Britain's The Sun newspaper:
"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."
Reports of a tough financial year are in sharp contrast to 2014, in
which Victoria's fashion brand - which includes her couture and
ready-to-wear collections - made a turnover of $54 million .
David is the highest paid former sportsman in the world, due to his
deals with companies including Adidas, H&M and luxury watch
firm Breitling, as well as other business ventures. Forbes magazine
reported that he was worth more than $81.2 million last year
(15).
The couple have gone from strength to strength since launching
their 'second' careers, but are still reliant on David's personal
income. Last year (15), his companies made a $20.3 million profit,
the newspaper reports.
A representative for the David and Victoria have yet to
comment.