Victoria Beckham loans over R130 million in desperate bid to save her fashion business

The singer-turned-designer has been offered the loan after her company, Victoria Beckham Ltd, made significant losses over a four-year period. 

The loan will ensure Victoria retains control of the company. However, if Luxembourg-based London Investments S.a.r.l is not repaid its money, the cash could be converted into shares in Victoria Beckham Ltd.

READ MORE: Victoria Beckham's fashion label suffers more than R220 million loss

A financial expert told The Sun newspaper, "Posh wouldn't want to relinquish any more control in a business which is formed in her name. Yet desperate times require desperate measures.

In November 2019, the company announced it hadn't made a profit since forming in 2008 and revealed losses grew 20 percent by December 2018 as the demand for high-end clothing "plateaued".

In September 2019, the model launched a "clean beauty" makeup line called Victoria Beckham Beauty. In the same year the brand launched two ranges of athleisure and fitness wear in collaboration with Reebok.

Compiled by Phelokazi Mbude

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