In 2022, David Beckham’s business ventures brought in over $80 million in revenue, while his wife Victoria Beckham’s ventures required millions to stay afloat.
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David Beckham’s Firm Sees Profit After Former Football Star Sold More Than Half His Shares in 2022
According to the accounts released by Companies House, Beckham’s holding group DRJB saw a doubling of profit to £72.6m in the year to December 2022. However, this blessing didn’t come without its sour side, as a dramatic surge in operating costs ate into profits.
Administrative expenses for the group doubled due to Beckham’s push for a reorganization of the firm. Due to this, the group reported a pre-tax profit of £10.8m, a huge drop from the £23.5m reported the previous year.
Early 2022 also saw Beckham sell 55 per cent of his firm to the US group Authentic Brands for £200m. The move saw brand Beckham join Reebok, Hunter, Elvis Presley and Ted Baker as part of celebrity brands with shares from the US Group.
David Beckham Ventures Limited and Seven Global Are The Two Group’s Subsidiaries That Manage Beckham’s Brand Partnerships and Sponsorships.
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In 2022, his brand was supported by long-term contracts he’d already obtained from partners Sands, Maserati, Panini and Guild eSports. While his ambassadorial role with the 2022 Qatar World Cup came with its own backlash and controversies, it put millions in his account.
Seven Global, which oversees deals that fall outside DB Ventures Limited, brought in over £8.6m in revenue profits through partnerships with Adidas, Tudor and Safilo.
Losses Mount For Victoria Beckham’s Firm As Shareholders Inject Cash Hoping For A Turnaround
On the other hand, the year wasn’t as graceful to Victoria as it was for her husband David Beckham.
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While there was a surge of profit through her fashion and beauty business, her firm still required cash injections from shareholders to survive the losses as bosses press on with turnaround plans.
Their accounts revealed that the firm’s co-owner, private equity firm NEO, made additional loans of £6.9m to the firm.
Whereas the firm was able to narrow their losses to less than £3.3m, auditors are still worried about its ability to continue to operate profitably.
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