Sunday, March 13, 2016

David Beckham bails out wife Victoria Beckham's fashion empire



David Beckham has reportedly bailed out his wife's fashion empire after her high-end designer brand lost £3.8 million (NZ$7.97 million) in just one year.
Victoria Beckham opened her new £3 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 is said to have stepped in to help, giving her £5.2 million (NZ$10.9 million) to push through the difficult time.

Chartered accountant Robert Leach told Britain's The Sunnewspaper: "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 £34 million (NZ$71.3 million).
David Beckham 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 £50.8 million (NZ$106.6 million) last year.
Last year, his companies made a £12.7 million (NZ$26.6 million) profit, The Sun reports.

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