LONDON-David Beckham’s businesses weathered the pandemic in 2020, delivering profits and rich dividends, despite declining revenues in a challenging environment, WWD reports.
According to the latest filings on Companies House, the UK’s official business register, revenue from Beckham’s main company, David Beckham Ventures Ltd., fell 10% to £11.4m (£13.7m). dollars) from the previous year.
Although revenues were down, profits rose 18% to £10.6 million ($12.8 million), supported by $7.5 million in investment income from a share of profits in Seven Global LLP.
Seven Global is Beckham’s global brand management business, which he took full ownership of in July 2021.
In the year to 31 December 2020, Beckham also signed new multi-million pound sponsorship deals with companies including video game company Electronic Arts; Italian comic book and trading card company Panini and fitness company F45. They joined an existing portfolio that includes Haig Club whiskey, Adidas and Tudor watches.
Revenue for Seven Global, which oversees Beckham’s deals with Coty and Safilo eyewear, was $23.2 million in 2020, broadly flat from a year earlier.
Despite flat revenue, profit doubled to $18.1 million due to lower administration costs, the company said.
However, there have been a lot of changes within the Beckham brand since 2020.
Earlier this year, Authentic Brands Group bought a 55% stake in David Beckham Ventures Ltd., paying around $270 million, according to media reports.
Seven Global was previously a joint venture between David Beckham Ventures Ltd. and Global Brands Group. GBG, which eventually belonged to China’s struggling Shandong Ruyi, ended operations last year.
As part of the new partnership, Beckham also became a shareholder in ABG, which has a growing entertainment roster that includes brands such as Muhammad Ali, Shaquille O’Neal and Sports Illustrated. ABG also took control of Reebok earlier this year.
The Seven Global joint venture with GBG previously oversaw contemporary menswear brand Kent & Curwen. Designed by Daniel Kearns and run by Beckham, the brand used to parade during London Men’s Fashion Week. Today it mainly operates in China and Beckham no longer has any connection with the brand.
In addition to David Beckham Ventures Ltd. and Seven Global, the former England soccer captain has another company on the books, Beckham Brand Holdings Ltd. It is the holding company that owns businesses owned by David and his wife Victoria Beckham.
The holding company saw its profit more than double to £11.6m ($14m), despite a drop in revenue from Victoria Beckham’s fashion business in financial year 2020.
The rise in overall profit saw shareholders David and Victoria Beckham take home a total dividend of £8.1 million ($9.7 million).
As reported in May, the couple were ranked at 65 on The Giving List, which was compiled by The Sunday Times of London as part of the newspaper’s annual Rich List. The Beckhams donated £1million to Ukraine after Russian President Vladimir Putin invaded the country earlier this year.
The Beckhams’ wealth was estimated at £425m ($513m) per The Sunday Times. They are not in the top 250 of the Sunday Times ranking, although their wealth exceeds that of other celebrities like Elton John, Sting, Mick Jagger, whose fortune is less than £400 million.