Victoria Beckham fashion loses money - 4th December 2019
Victoria Beckham has a fashion company. It is called Victoria Beckham Limited. It lost money again last year. Customers aren't buying expensive clothes.
The company started in 2008. It lost £12.3m in 2018. It loses money every year. But there is some good news. UK sales went up, but international sales went down. Sales decreased 16%.
People are worried about the company. Victoria wants it to be a success. She thinks there will be a profit at the end of 2019. Sales for 2020 are good. She thinks the company is now on the right track.
Company chairman, Ralph Tolendo, is hopeful and thought the results were fine. The company has cut costs and online sales went up. It now has better products.
Mrs Beckham's husband is David Beckham. He is the famous Manchester United footballer. They own the business together. They own it through another company, Beckham Brand Holdings.
Victoria Beckham Limited is making Beckham Brand Holdings lose money. It lost £1.6m in 2018. In 2017 it made £12.3m profit.
But it's not so bad. Victoria and David are 372 on the Sunday Times Rich List. Together, they have £355 million.
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