David Beckham's Kent & Curwen Accrued Losses Of £10.7 Million Last Year, But Here's Why It's Not All Bad
David Beckham is a man of many talents, but who knew the former footballer part-owned a Peaky Blinders-style fashion brand? Not me. But it's true. It's called Kent & Curwen. The company has recently made headlines after The Sun reported that David Beckham's Kent & Curwen accrued losses of £10.7 million in 2018. However, it might not it be as dramatic as it seems at first glance.
The company is actually owned by a bigger company, Trinity Brands UK, but Beckham is a business partner and has been the face of the brand since 2015. The brand itself sells cool men's clothing and describes itself as the "paragon of authentic British menswear." It's helmed by Creative Director Daniel Kearns, who envisioned Kent & Curwen as "a fresh take on English heritage for the way men dress today," when he took over in 2016.
The brand sells an array of sweatshirts, rugby-style shirts and trousers for men, with a price range that you might find at a high-end shop on the high street. The clothing is available to buy online as well as in the brand's luxe Covent Garden store.
But, as mentioned, it sounds as though Kent & Curwen hasn't reached profitability yet. The reported losses for 2018 were nearly £10.7 million, which is higher than the losses wife Victoria Beckham experienced a couple of years ago with her namesake high-end label. Victoria Beckham was said to have lost £10.2 million back in 2017, The Sun reports, however it's not unusual for companies to remain unprofitable in their early years while they invest in further growth. For example, as Inc reports, it took Amazon nine years to become profitable, with the company turning over $1.6 billion in 1999, while still making losses of $719 million. Perhaps, therefore, these figures aren't all that they seem at first glance.
Interestingly, this isn't the only venture Beckham is pouring his energy into. Last year he launched another partnership brand, House 99, as Vogue reports. The brand is named after the year David and Victoria were married, as well as the year when their son Brooklyn was born and Manchester United won the treble. You could say it was his lucky year.Created in collaboration with L'Oreal, House 99 is inspired by British barber shops and features products such as body moisturisers and beard oils.
In a statement released when House 99 launched, David said:
“I created House 99 to give people the inspiration as well as the right products to experiment and feel completely at home doing so. House 99 is here to support men, to give them the tools they need to create whatever look they are going for.”
With this little business on the side, along with their many other pursuits, I'm guessing the Beckhams weren't affected too harshly by the Kent & Curwen losses. Plus, I'm sure they have some very savvy advisors up their sleeve. Indeed, last year in May, The Sunday Times' Rich List estimated the couple were worth a huge £340 million, up £40 million from the previous year. Spare us a tenner, will you guys??