Victoria Beckham’s clothing range ‘sold up to 70% after her business ran up debts of £53.9million, raising doubts over its future’
Victoria Beckham’s designer purchases are now sold out for up to 70% off a luxury online discount store, after it was reported his business was in debt for £53.9million.
The 48-year-old fashion designer launched her fashion brand in 2008 with a small collection of dresses, but in recent days it has been claimed the brand is well into the red with heavy losses.
Now it has been revealed that some of Victoria’s products are being sold at a steep discount, with a dress reduced by almost £1,300.
Discount: Victoria Beckham’s designer purchases are now up to 70% off at a luxury online discount store, after it was reported her business was in debt for £53.9million .
From humble beginnings, the Victoria brand has quickly grown into an extensive range that now includes handbags, coats, shoes and accessories.
But now the brand faces an uncertain future as a spokeswoman for Victoria has confirmed her fashion label’s figures with The mirror.
Luxury online discount store The Outnet has slashed prices for Victoria’s pieces, with discounts increased from the usual 30% to 70%.
Brand: The 48-year-old fashion designer launched her fashion label in 2008 with a small collection of dresses
An open back roll neck midi dress from £1,845 has been reduced to £554, while a leopard print blouse from £650 is selling for £228.
MailOnline has contacted representatives for Victoria for comment.
A report said: “Total Victoria Beckham Holdings Group revenue fell 6% to £36.1m (2019 – £38.3m) due to the effects of the global pandemic.
“This group reacted quickly to the effects of the pandemic and controlled its cash and expenses, which led to a significant reduction in its operating losses of 57%, thanks to cost savings throughout the company. business and recalibrating its business model to make it sustainable for the longer term.
Slashed: Luxury online discount store The Outnet has slashed prices for Victoria’s pieces, with discounts increased from the usual 30% to 70%
“Victoria Beckham Beauty continues to expand its portfolio with a number of successful product launches this year featuring best-in-class clean luxury beauty and skincare.”
Despite the big losses, Beckham’s global empire reportedly doubled its profits.
Annual accounts filed with Companies House in London showed the pair earned £11.6m in the year to December 2020 despite the pandemic – up from £4.5m in 2019.
Savings: A £1,845 open back turtleneck midi dress has been slashed to a steal at £554, while a £650 leopard print blouse is selling for £228
In accounts submitted in 2021, auditors warned of ‘significant doubt’ over the Victoria fashion company’s ability to continue operating when it was reported the company had racked up debt of more than £46m since launch.
The star’s friends said at the time that she was determined to continue with her business even though her critics dismissed it as a vanity project.
One said: “It’s what gives Victoria her identity, she loves it and despite her obvious obstacles she is a grafter and extremely passionate about it.”
Power couple: Despite big losses, Beckham’s global empire is said to have doubled its profits – totaling £11.6m in 2020
In February 2021, it emerged that Ms Beckham’s beauty range which she created in 2019 had suffered a loss of £4.7million.
A spokeswoman for Ms Beckham said: ‘While 2019 was a difficult year, the business halved its losses – a significant step on the road to profitability. The launch of the wildly successful beauty line in the same year helped drive overall sales up 7% compared to 2018 and both businesses are focused on profitable growth.
“The showcase of the recent AW21 fashion collection was well received by fashion critics and the beauty industry has seen several products sold out in recent months.”
Motivated: The star’s friends say she’s determined to keep going with her business even though critics have dismissed it as a vanity project