Victoria Beckham is reportedly making moves to launch a health and lifestyle brand in the US, which is set to rival Gwyneth Paltrow’s $250 million Goop empire.
The former Spice Girl, 46, has been given the green light to sell ‘beauty and well-being products’ across the pond, according to The Sun – and has trademarked ‘Victoria Beckham’ and ‘VB’ for legal protection.
A source told the publication: ‘The Beckhams are huge in the States. Victoria’s products are likely to be lapped up and provide her with a lucrative leap into the international market.’
Big business: Victoria Beckham, left, is reportedly making moves to launch a health and lifestyle brand in the US, which is set to rival Gwyneth Paltrow’s Goop empire
MailOnline has contacted representatives for Victoria Beckham for comment.
Victoria already boasts a host of beauty products to her name, after launching an eponymous brand to complement her fashion label.
Oscar-winning actress Gwyneth, 47, made waves when she launched her Goop brand back in 2008 while living in London with her then-husband Chris Martin.
Sharing her insights on health and wellness, the star has also promoted and sold a number of eyebrow-raising products, including her most recent candle, This Smells Like My Orgasm, which followed on from This Smells Like My Vagina.
Waves: Oscar-winning actress Gwyneth, 47, made waves when she launched her Goop brand back in 2008 while living in London with her then-husband Chris Martin. Pictured in January
Victoria’s latest venture could prove to be a shot in the arm for her business finances, after it was recently claimed by The Sun that she had been loaned a £6.4 million lifeline to save her ailing fashion empire.
The Spice Girl turned fashion designer’s company has allegedly racked up £42 million worth of losses over the past four years.
Mother-of-four Victoria will reportedly be able to keep control of her flagship Victoria Beckham Ltd, after being ‘backed by a private investment agreement’.
The Sun reported that London Investments Sarl will have its cash converted into shares if they are not repaid.
The Luxembourg-based company is said to have put £30 million into the fashion empire in 2017 for a 28 per cent share.
Reports: It was recently reported that Victoria had been loaned a £6.4 million lifeline to save her ailing fashion empire. Pictured with husband David Beckham
Ouch: The Spice Girl turned fashion designer’s company has allegedly racked up £42 million worth of losses over the past four years (flagship store pictured in London)
The newspaper also claimed that Victoria and her husband David control ‘48.4 per cent of shares’ and pal Simon Fuller has 23.6 per cent.
MailOnline contacted both Victoria and David Beckham’s representatives for comment at the time.
In November 2019, it was reported that Victoria’s fashion business plunged almost £36 million into the red after making losses of £12.5 million in 2018.
Her company Victoria Beckham Holdings Limited filed accounts for 2018 which showed she had failed to turn round the troubled fashion empire. It has now made losses for every year since 2013.
The news came as profits from her husband David’s company DB Ventures halved over the span of a year, from £23.2 million in 2017 to £11.5 million in 2018.
‘Control’: Victoria, 46, will reportedly be able to keep control of her ‘flagship Victoria Beckham Ltd’ after being ‘backed by a private investment agreement’ (pictured in February)
David, 45, is thought to have lent wife Victoria some £600,000 for her Victoria Beckham Ltd business, after he bailed out his wife’s company with a £23 million cash injection in January 2019.
But it’s not all woe: the couple were ranked 372 on last year’s Sunday Times Rich List, with a combined wealth of some £355 million and were named among Britain’s 50 biggest taxpayers in The Sunday Times Tax List.
David has endorsement arrangements with brands including Pepsi, Samsung, H&M, Haig whisky and Adidas which give him a cut of rising sales.
The Beckhams’ property portfolio includes a £31.5 million mansion in west London and a lavish £6 million country abode in the Cotswolds.
Losses: Graph shows how losses have mounted up for Victoria Beckham Ltd since it launched in 2013, the 2018 figures show that the company lost £42.3 million
Revenue for Victoria’s holding company went down from £42.5 million in 2017 to £35.8 million last year as the company was restructured.
Overall losses for the company have risen from £23.5 million to £36 million. The Sun claims they are now at £42 million.
Documents also revealed that the company breached the terms of a £10 million HSBC bank loan ‘several times’ but for the time being ‘HSBC has remained supportive by allowing time to explore the options available to the group and shareholders’.
Despite the devastating figures, the report insisted that changes were being made to turn the company round and to make it more in line with Victoria Beckham’s ‘aesthetics and values’.
Business: In November 2019, it was reported that Victoria’s fashion business plunged almost £36 million into the red after making losses of £12.5 million in 2018 (pictured in February)
The accounts said: ‘Whilst revenues and profits were down in 2018, the business performed in line with shareholders’ expectations by cutting costs, focusing on its digital channels and refining its products to more closely reflect Victoria Beckham’s aesthetics and values.’
It also said that the company had £30 million in new investments which had been ploughed into the appointment of a ‘world class leadership team’.
The documents said the investment was targeted at digital marketing and other strategies to enable the company to distribute to over 120 companies.
It said the strategy was paying off and sales were increasing in 2019 in ‘certain segments’ as well as a reduction in losses.
Victoria recently launched a new make-up range, it includes a £180 Cell Rejuvenating Power Serum and £92 Cell Rejuvenating Priming Moisturiser.
Impressive: The Beckhams’ property portfolio includes a £31.5 million mansion in west London and a £6 million country abode in the Cotswolds (Cotswolds property is pictured in 2017)
The Sun claimed that David paid £11.1 million from his profits in the family company Beckham Brand Holdings which he and Victoria co-own.
It was also reported that David’s lendings to Victoria’s fashion company now total £16 million.
MailOnline contacted representatives for David and Victoria Beckham for comment at the time.
In 2016, the former England captain reportedly bailed out Victoria’s fashion empire with £5.2 million after her designer brand lost £3.8 million in a year.
Victoria’s losses were previously blamed on ‘design, marketing and sales’ spending by a spokesperson for the Victoria Beckham brand.
Aid: It has been claimed that David’s loans to Victoria’s fashion company now total £16 million
In contrast David, who is one of the directors at DB Ventures Ltd, made a profit of £23.2 million the same year and paid himself £18.75 million in dividends.
The fashion label has a flagship store in Mayfair, London and sells items such as coats for up to £2,900 each.
In 2016, the firm was £8.4 million in the red and £4.7 million the year before that.
In April, Victoria was met with public backlash following her decision to furlough her staff, which she later reversed.
Pricey! Victoria recently launched a new make-up range, it includes a £180 Cell Rejuvenating Power Serum and £92 Cell Rejuvenating Priming Moisturiser
The star, whose family is worth £335million, had planned to use the Government’s COVID-19 scheme to pay 80 per cent of the wages of some of her staff.
The fashion brand, which employs 120 people, sent letters to 30 members of staff warning them that they were going to be furloughed under the Government’s scheme for two months.
She told The Guardian: ‘We will not now be drawing on the government furlough scheme. At the beginning of the lockdown the shareholders agreed with senior management to furlough a small proportion of staff.
‘At that point we didn’t know how long the lockdown might last or its likely impact on the business. The welfare of my team and our business means everything to me.’
Backlash: In April, Victoria was met with public backlash following her decision to furlough her staff, which she later reversed (her flagship store pictured in 2014)