David Beckham’s fashion brand ‘racked up nearly £11m of losses’ last year after wife Victoria’s clothes range lost £10m
- Trinity Brands UK which owns the Kent & Curwen brand had £10.7million losses
- Firm had hoped the former England captain’s ‘golden touch’ would rescue them
- Victoria Beckham’s fashion brand recently faced similar financial difficulties
The company which owns David Beckham‘s fashion brand has made losses of more than £10million, just weeks after his wife’s label sank further into its own financial struggles.
Trinity Brands UK, which owns Beckham’s Kent & Curwen brand, had a deficit of some £10.7million in 2017.
The firm’s owners had hoped the former England captain’s ‘golden touch’ would turn its fortunes around but the company has ‘slipped further into the red’, experts said.
The company launched a flagship outlet in Covent Garden but has faced major losses, The Sun reported.
The company which owns David Beckham’s fashion brand has made losses of more than £10million, just weeks after his wife’s label sank further into its own financial struggles. The couple are pictured together in London last week
A finance expert told the newspaper: ‘When he was signed up to front Kent & Curwen four years ago, the owners hoped Goldenballs would bring his golden touch to the brand.
‘But as Victoria’s falling fortunes have shown, the Beckham association isn’t the guarantee it used to be.’
The company is working with TV show Peaky Blinders in a collaboration unveiled last week.
Last month it emerged that Victoria Beckham’s fashion label was losing £10.2million a year.
The ex-Spice Girl’s luxury clothing, glasses and accessories business recently celebrated its 10th anniversary.
But losses have increased by £2million in the past 12 months despite revenues growing 17 per cent to £42.5million in 2017.
The fashion label, which has a flagship store in Mayfair, London and sells items such as coats for up to £2,900 each, posted an £8.4million loss in 2016.
The mother-of-four oversees an empire comprising four clothing lines, more than 400 retail outlets in over 50 countries and offices in London and New York.
David Beckham, pictured right, and Victoria Beckham, pictured left, have both seen their fashion brands face financial losses
Former England captain Beckham at the Kent and Curwen store in Covent Garden last week