David Beckham tripled revenues from his brand and investments to £34 million ($40.9 million) in 2021 before signing a controversial sponsorship deal to promote Qatar ahead of the football World Cup.
After the reporting period closed, the retired footballer faced public criticism for agreeing to promote Qatar despite concerns around the treatment of migrant workers and the country’s record on human rights.
Some critics called on Beckham to donate the fee to LGBTQ charities, given homosexuality is illegal in the Gulf state and Beckham himself enjoys popularity in the gay community.
Besides Qatar, Beckham lends his brand to promote products such as Adidas and Diageo’s Haig Club whisky. Profit after tax at DB Ventures Ltd. rose to £19.6 million last year, up from £10.6 million in 2020.
Beckham and his wife Victoria’s holding company, Beckham Brand Holdings Ltd., which owns DB Ventures Limited and Victoria Beckham’s fashion business, paid £6.3 million in dividends to the couple, compared to £7.1 million in 2020. A further £1.8 million was paid out after the reporting period.
The former Spice Girl’s fashion business narrowed its operating loss to £3.9 million from £6.8 million while growing revenue from Victoria Beckham branded fashion and beauty products by 13%.
The business’s Chief Executive Officer Marie LeBlanc de Reynies flagged further improvement this year.
“With the successful launch of leather goods in 2022 and the continuous acceleration of sales growth in beauty, we have high expectations.”