Victoria Beckham’s fashion business profited after a little help from husband David Beckham.
David support’s his wife of 17 years by sitting front row at her fashion shows and now, bailing out her company. Instead of recording a loss in this previous year’s accounts, Victoria Beckham Limited received £5.2 million ($7.5 million) from her generous husband.
In 2014, Victoria’s designer brand made £34 million ($49.2 million) and she credited her success saying, “I have a great team of people who work with me. I’m not doing this on my own,” according to The Telegraph.
Victoria would have recorded a £3.8 million ($5 million) loss if not for David pouring millions into it. The Telegraph states his investment is filed in her company’s books under “discontinued operations.” Now, Victoria’s fashion company shows a £1.4 million ($2 million) profit before tax.
Robert Leach, chartered accountant and tax lecturer said, “The accounts suggest it is a transfer of operations between companies owned by Victoria and David. In effect the couple are simply moving the profits between themselves,” according to The Sun.
Victoria’s fashion house needed to rescued due to spending £2.8 million ($4.1 million) building a shop in Mayfair, London.