Victoria Beckham 's designer clothes are now being sold at highly discounted prices, after her high-end fashion company amassed debts of almost £54million.
The 48-year-old’s designer brand and new make-up firm lost £6.6million in 2020. In 2019, they racked up £15.6million in debts. The former Spice Girl is still in the red to the tune of £53.9m – with £29m owed to the Beckhams ’ other business ventures.
Shoppers can now snap up Victoria's expensive clothes online, with some pieces being sold with up to 70 per cent off.
Luxury online discount store The Outnet has at least 30 per cent off all items in her range. Many tops, skirts, blouses, coats and dresses then have 70 per cent reductions.
In one instance, a turtleneck midi-dress has been reduced from £1,845 to £554.
A spokeswoman for Victoria said the losses were partly as a result of the Covid-19 pandemic.
A report said: "Total revenues for the Victoria Beckham Holdings group fell 6% to £36.1m (2019 – £38.3m) due to the effects of the global pandemic.
"This group rapidly responded to the effects of the pandemic and controlled its cash and expenditure which led to a significant reduction in its operating losses by 57%, thanks to cost efficiencies across the business and the recalibration of its business model to make it sustainable for the longer term."
They added: "Victoria Beckham Beauty continues to expand its portfolio with a number of successful product launches in this year with best in class in clean luxury beauty and skincare."
But despite the big losses, David and Victoria Beckham’s global empire reportedly doubled its profits, raking in £11.6m. Their joint business interests earned the sum in 2020, despite the pandemic.
The pair also took out total dividends of £15m and paid £2.5m in tax.
Annual accounts filed with Companies House in London this week show the pair made £11.6m in the year ending December 2020 – compared to £4.5m in 2019.
Much of the cash was from David’s tie-ins with firms like adidas, watch maker Tudor and Haig whisky.
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