Victoria Beckham on the brink of bankruptcy? Her brand is losing millions!

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While she has been at the head of the Victoria Beckham Beauty brand for several years, Victoria Beckham would be on the verge of bankruptcy. How can the former Spice Girls member bounce back?

Would Victoria Beckham be on the straw? According to the Daily Mail, the manager of the high-end brand Victoria Beckham Beauty would be in debt at 54 million pounds sterling, or 60 million euros. The past few years have seen a string of losses for Victoria Beckham’s clothing company which she set up in 2008. In 2020, her brand and new make-up business lost £6.6 million ($7 million euros). Last year, the brand recorded a debt of 15.6 million pounds sterling (18 million euros).

What would explain the debts of the company of the companion of David Beckham? According to a spokeswoman for Victoria Beckham Beauty in a report published in The Mirror, this group has suffered the consequences of the Covid-19 pandemic: “Total revenue for the Victoria Beckham Beauty group fell by 6% to 36.1 million due to the global pandemic, the report said.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 %, through cost savings across the business and recalibrating its business model to make it sustainable for the longer term.” Additionally, according to the report: “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.”