Beckhams’ business empire sees revenues drop 18%

David and Victoria Beckham’s brand empire has suffered a sharp fall in revenues, a few months after the celebrity couple bought out their longtime business partner Simon Fuller, creator of the American Idol talent show.

The British pair owns a holding company that controls their sprawling business interests, including stakes in Mrs Beckham’s beauty and luxury fashion ventures and Mr Beckham’s endorsement deals and stake in football club Inter Miami FC. Overall revenues for the Beckhams’ combined businesses fell 18 per cent to £45.8m in the year ending December 2018.

The slump was partially driven by a slowdown in the former Manchester United player’s income from Seven Global, a joint venture that manages some of his partnerships such as that with Adidas.

Pre-tax losses at Mrs Beckham’s fashion business — which has not made an annual profit since it was launched a decade ago — widened by almost a fifth.

Via FT