She’s been widely praised for the way she has transformed herself from pop star and footballer’s wife to savvy businesswoman.
But Victoria Beckham has been forced to slash the cost of hundreds of her high-end fashion items as she battles to reverse mounting losses at her design label.
Prices are being cut by up to 70 per cent – sometimes amounting to thousands of pounds per item – as her company tries to shift piles of unsold stock before the end of the season.
The fire sale follows a set of accounts which revealed her fashion empire’s losses almost doubled last year from £4.8 million to nearly £8.5 million.
Pictured, Victoria Beckham leaves Barneys in New York City wearing one of her own creations. The print drape sleeve top she is wearing was slashed by £472, now costing £203
In contrast, husband David’s fortune is soaring thanks to a series of brand endorsements.
He banked an £18.75 million dividend from his company DB Ventures last year – up from £10.2 million in 2016.
But he’s unlikely to be helping his wife out much, given that he’s about to realise his long-held dream of owning his own football club. His Major League Soccer club – nicknamed Beckham United – is due to be launched in Miami tomorrow.
The prices of about 200 lines have been slashed on the website of Victoria’s fashion label.
A black floor-length corset dress, originally priced £3,250, is now just £975. A £2,250 cashmere coat is now £675 and a £1,595 fitted curve cami dress is £479. Many outfits are still available in all sizes, showing they have not been as popular as hoped.
That is despite the firm getting a boost from Meghan Markle, who wore a Victoria Beckham cashmere sweater in the official photoshoot to celebrate her engagement to Prince Harry. The £690 garment sold out.
But Victoria herself no longer has the same ability to drive sales.
A two-piece she wore in New York last October is among the reductions, slashed from £1,800 to £541.
Fashion industry analyst Eric Musgrave said: ‘Nobody wants to discount by this amount. It damages the brand credibility and upsets people who have paid full price.
‘All companies need to clear out their unsold stock. But this shows Victoria Beckham has clearly over-ordered – or that she is producing designs that haven’t proved popular. The question remains how long are her backers willing to sustain that.’
The company was founded in 2008 and employs 180 people. Last year it attracted a £30 million boost from outside investors.
An insider at Victoria Beckham Ltd insisted the clear-out was a normal end-of-season sale, adding that the company ‘is in a strong financial position, with long-term backing’.