David and Victoria Beckham have paid themselves £14.5 million in dividends from their business empire, according to accounts for 2019. The payout, from David Beckham Ventures Limited (DBVL), was up from £11.1 million in 2018. A further £7.1 million was declared and paid in 2020.
The dividend comes despite widening losses at Victoria Beckham's fashion label, which reported a statutory loss of £16.6 million for 2019, compared to £12.5 million the previous year. The fashion brand's revenues rose 7% to £38.3 million, boosted by a new beauty line and online sales growth.
DBVL, the global brand management company for David Beckham, saw sales improve to £16.2 million from £15.6 million, but pre-tax profits fell to £11.3 million from £14.8 million. The decline was attributed to charitable donations, currency headwinds, and increased staffing.
Victoria Beckham Holdings Limited also reported revenue growth, though losses widened due to pre-launch costs for the beauty business. Stripping out one-off costs, core fashion losses reduced to £4.6 million from £10.5 million, aided by revenue growth and cost control.
The accounts cover the period before the coronavirus outbreak. In 2020, the pandemic hit trading, with the Dover Street store closing during lockdowns, though online sales surged and a new homeware range performed well.
