David Beckham has reportedly bailed out his wife Victoria Beckham’s fashion empire after her high-end designer brand lost STG3.8 million ($A7.29 million) in just one year.
Victoria opened her new STG3 million shop in London’s posh Mayfair in 2014, with the luxurious high-end store including a VIP area and artwork by British designer Damien Hirst adorning the walls.
However, after an apparently disappointing few months for the ex-Spice Girl, her husband David is said to have stepped in to help, giving her STG5.2 million ($A9.98 million) to push through the difficult time.
— Victoria Beckham (@victoriabeckham) March 12, 2016
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 STG34 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 STG50.8 million last year.
Last year David’s companies made a STG12.7 million profit, The Sun reports.