Bloomberg News reports that David Beckham tripled their revenues. And what were the sources that made it happen? His revenues tripled from the investments and brands to £34 million, equivalent to $40.9 million in 2021. It happened before he signed a controversial sponsorship deal for promoting Qatar before World Cup football.
The player received a lot of criticism from many quarters for promoting Qatar. This is because there has been an outcry related to the treatment meted out to the migrant workers and the human rights record. Many critics called on the retired footballer to donate fees to LGBTQ charities since homosexuality is not legal in the Gulf state and footballer is quite popular in the gay community.
Db Ventures Ltd Records
Beckham has also lent his brand to promoting Adidas and Diageo’s Haig Club Whisky products. Records indicate that profits after tax at DB Ventures Ltd escalated last year to £19.6 million, a surge from £10.6 million in 2020.
Effect on Fashion Business
Beckham Brand Holding Ltd, the holding company, belonging to David and his wife and which owns DB Ventures Limited as well as the fashion business of Victoria Beckham, shelled out £6.3 million as dividends to the star couple. This sharply contrasted with £7.1 million, which was paid to them in 2020. Bloomberg News also reports that a further £1.8 million was paid following the reporting period.
The Fashion Business Narrows Losses
The fashion business of former Spice Girl narrowed the operating losses recording the figure at £3.9 million from £6.8 million at the time of building revenue from the fashion brand of Victoria Beckham aside from beauty products by 13%.
Marie LeBlanc de Reynies, the chief executive officer of the business, recorded an improvement in the current year. It was also recorded that the couple hopes for consistent growth in its beauty products aside from its launch of the leather goods business in 2022.
