Victoria Beckham Takes Pay Cut For Fashion Business

Victoria Beckham has decided to cut back on spending for her designer fashion brand as the retail market continues to struggle. The fashion designer is reportedly saving in a variety of ways, from taking a personal pay cut, to ditching the plants that decorate the Hammersmith headquarters in the New Year.

It has also been reported that the former Spice Girl will start taking taxis and driving to save money on a chauffeur. Meanwhile both Communications Director Jo Milloy and Head of PR Ruth Davies have left the business.

Victoria's plans for tightening her purse strings come after the company recorded losses of £12.2 million for the year in a Companies House report last month. Since the star launched the brand in 2008, it has reportedly made losses of £42million and on one occasion was given a helping hand fromVictoria's husband David.

However it has had plenty of wins over the past 11 years, including Victoria's first-ever London Fashion Week show which took place last year after years of New York shows.

Fortunately Victoriais fighting for the company, with a source telling The Sun newspaper, 'Victoria is gutted but she’s put everything into her fashion empire and won’t give up without a fight.'

David's business DB Ventures has also been in decline, with profits dropping from £44million four years ago to £15million in 2018.

Despite the couples various business ventures reportedly declining, the Beckhams still ranked 372 on this year's Sunday Times Rich List.

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