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Victoria Beckham fashion loses money - 4th December 2019

Victoria Beckham's fashion company has lost money again. It said shops were not buying as many of its clothes and customers were buying less designer fashion.

The company made a £12.3m loss in 2018. It has lost money every year since it started in 2008. But its report was mixed. UK sales increased, but international sales and department store orders decreased. Clothes sales went down 16%.

People are worried about the company. 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 cut costs. Online sales went up. It now has better products.

Mrs Beckham's husband is David Beckham, the famous Manchester United footballer. They control her business together, through another company Beckham Brand Holdings.

Beckham Brand Holdings has made its first ever loss because of the losses at Mrs Beckham's company. Beckham Brand

Holdings lost £1.6m in 2018, but it had made £12.3m profit the year before.

But it's not all bad news. Victoria and David are ranked 372 on this year's Sunday Times Rich List. They have a combined fortune of £355 million. They are also one of the 50 biggest taxpayers in the UK.