DRBJ Holdings, which houses DB Ventures Limited, the brand management operation which supports the David Beckham brand, has seen annual pre-tax profits more than double to £28.7 million ($36.2 million) from £12.8 million ($16.2 million) in 2022, in the year leading to 31 December 2023.
Revenue also increased from £71.2 million ($89.7 million) to £72.3 million ($91.2 million), according to the report released today.
The previous year, pre-tax profits fell from £23.6 million to £10.8 million, mainly due to an increase in administrative expenses.
DRBJ Holdings’ partnership with Authentic Brands Group (ABG), initiated in 2022, has driven growth through endorsements, digital collaborations, and product launches. The footballer reportedly earned £200 million from selling 55% of the business to ABG.
The report announced a currency change for the company, from GBP to USD, due to its reorganisation with ABG, whose portfolio boasts names such as Reebok, Champion Juicy Couture.
Earlier this year, ABG named three new licensees for the ailing Ted Baker brand in the US and Canadian markets, which it said would “secure its future” across the pond.
DRJB Holdings posted a rise in social media following of 16.4 million to 163 million (a 23% increase). Beckham said in his report that this was in part due to the success of Netflix documentary Beckham, which was released in October 2023 and has helped to drive global interest in the brand.
Founded in 2014, DB Ventures deals with most of Beckham’s brand partnerships, and includes his deals with Adidas, Tudor watches and Haig Club, his own whiskey brand.
Looking forward, DRJB Holdings predicts strong financial performance and ongoing opportunities with ABG, which position the group for sustained growth.
Key risks for the company include global economic factors and managing sponsors and licensees, which it aims to mitigate through performance monitoring.
DRJB Holdings also owns production company Studio 99 Limited group, which develops documentary features and series.
The report signifies that David and Victoria Beckham’s overall business enterprises made more than £160 million in sales in 2023.
In August, Victoria Beckham’s fashion and beauty business defied the luxury slowdown, as sales jumped by 52% to £89.1 million for 2023, also reducing losses.
