David Beckham has reportedly cut ties from a five-year brand deal with clothing firm Kent & Curwen after bosses reported losses of £18 million.
Former Manchester United ace Beckham, 44, is believed to have been taken on board in 2015 to boost the business.
However, he is now leaving just months after launching a high profile collection with the brand, inspired by the hit TV show Peaky Blinders.
The loss of £18 million over three years caused bosses at TBUK, which owns Kent & Curwen, to cut staff by almost a third in October to make a £1.8 million saving on salary costs.
Beckham is believed to have cut ties with the luxury brand (Image: Getty Images)
An insider told the Sun: “He actually parted company with the business at the end of last year.
“But contractual negotiations are still ongoing.”
Kent & Curwen’s collaboration with the band The Stone Roses came under fire as fans claimed their prices were “extortionate”, with hats retailing for £75 and jackets available for £450.
Fans had recently hit out after their collaboration with The Stone Roses saw jackets retail for £450 (Image: GC Images)
David is still the face of the business and the official website claims he is still a business partner.
The news comes after Victoria Beckham hit back at criticism of the former Spice Girl’s decision to place several members of staff on the government furlough scheme.
Mrs Beckham claimed it was “unfair” she was being “slammed” for putting staff on the scheme as many other companies had done the same during the coronavirus pandemic.
Victoria Beckham has placed several members of her team on the furlough scheme (Image: WireImage for White Company)
An insider revealed: “Victoria’s telling friends that despite her birthday, it’s been the ‘worst week’.
“She doesn’t think it’s fair she’s getting slammed for something a lot of companies and businesses are doing. She thinks it’s unfair and had no idea the backlash would be this bad.”
Daily Star Online has reached out to representatives for David Beckham for comment.
Source: Celebrities - dailystar.co.uk
