Victoria Beckham’s luxury fashion company is reportedly £53.9m in debt.

The 48-year-old fashion designer launched her fashion label in 2008 with a small collection of dresses. It expanded rapidly and now has an extensive range that includes handbags, coats, shoes and accessories.

But now that Victoria’s spokeswoman has confirmed her fashion label figures to The Mirror, the brand faces an uncertain future.

Fiancée: Victoria Beckham’s luxury fashion company reportedly owes £53.9m

According to the report, “Victoria Beckham Holdings Group’s total revenue fell 6% to £36.1m (2019 – £38.3m) due to the impact of the global pandemic.

“The group responded quickly to the impact of the pandemic and managed cash and expenses. 57% significantly reduced, in the long run.

“Victoria Beckham Beauty continues to expand its portfolio with many launches this year of best-in-class clean, luxury beauty and skin care products.”

Despite heavy losses, Beckham’s global empire reportedly doubled its profits. Annual accounts filed at The Companies House in London showed the pair earned £11.6m in the year to December 2020 despite the pandemic, compared to £4.5m in 2019. do.

Brand: The 48-year-old fashion designer launched her fashion brand in 2008 with a small collection of dresses.

In a report filed in 2021, auditors warned there was “serious doubt” about the company’s ability to continue operating when it was reported to have raised more than £46m since its inception.

Star’s friends say she’s determined to keep her company going, even if her detractors dismiss it as a vanity project.

One said: “This is what gives Victoria an identity. She loves it, and despite her obvious disability, she’s a transplant and she’s very passionate about it.”

Power couple:m Despite heavy losses, Beckham’s global empire has reportedly doubled its profits, making £11.6m in 2020.

In February 2021, it was revealed that Mrs Beckham’s 2019 beauty range had suffered a loss of £4.7m.

A spokesperson for Mrs. Beckham said, “2019 was a difficult year, but the business halved its losses. This is an important step on the road to profitability. The launch of the line increased overall revenue by 7% in 2018, with both businesses focused on profitable growth.

“The recent AW21 fashion collection showcase has been well received by fashion critics, and the beauty business has seen multiple sell-outs in recent months.”

Motivation: Friends of the star say she’s determined to keep the company going, even if her detractors dismiss it as a vanity project