DB Ventures, the company associated with David Beckham, is reportedly engaged in a costly legal dispute with counterfeiters marketing fake versions of his products online.
The 48-year-old former footballer, known for endorsing clothing, fragrances, and accessories, is pursuing a substantial £1.58 million from each seller involved in the sale of counterfeit goods to fans.
DB Ventures is a subsidiary of David’s full-service global brand management operation DRJB Holdings Limited whose profitability turned to £72 million in the year 2022.
There are claims that David Beckham purportedly sold a 55% stake in the business to Authentic Brands for £200 million during that same year.
Seven Global, another one of David Beckham’s ventures which falls outside DB Ventures, made a £ 8.4 million profit through partnerships with Adidas, Tudor and Safilo.
Now The Sun reports that the controlling investors have hired trademark lawyers The Sladkus Group to stop selling on eBay, Amazon and Etsy.
In paperwork filed in the US claims the dodgy sales ‘erode the brand’s reputation’ and cost the company ‘considerable lost sales and harm’.
A source told the publication: ‘Authentic Brands want to crack down on people making cash from flogging goods with David’s name attached to it.
‘David and the team pride themselves on the quality of what they sell, including their clothes and fragrances, and they don’t want people being unwittingly ripped off when they buy a fake.’
It comes after DB Ventures made a big payout to an unknown person.
The 48-year-old football legend, who runs a housing estate company, allegedly paid a whopping salary of $10 million to a mystery employee in 2022.
It has come to light that DB Ventures, the company associated with global icon David Beckham, is currently embroiled in a legal battle with counterfeiters who are peddling fake versions of his products online. The former football star, who is renowned for his endorsements in the realms of clothing, fragrances, and accessories, is seeking substantial compensation of £1.58 million from each party involved in the illicit sale of counterfeit goods to unsuspecting fans.DB Ventures, a subsidiary of David’s expansive brand management entity DRJB Holdings Limited, recorded a staggering profitability of £72 million in the fiscal year 2022. There are suggestions that David Beckham may have offloaded a majority 55% stake in the business to Authentic Brands for a reported sum of £200 million during the same period. Furthermore, Seven Global, another venture under David Beckham’s umbrella which operates independently from DB Ventures, enjoyed a handsome profit of £8.4 million through lucrative partnerships with renowned brands such as Adidas, Tudor, and Safilo.In a recent development reported by The Sun, the controlling stakeholders have enlisted the expertise of trademark attorneys The Sladkus Group to crack down on the sale of counterfeit goods on popular online platforms like eBay, Amazon, and Etsy. Legal documents submitted in the US assert that the unauthorized sales not only tarnish the brand’s reputation but also result in substantial financial losses and harm to the company. A source close to the matter revealed, “Authentic Brands is determined to put an end to individuals profiting from the sale of substandard products bearing David’s name. David and his team take great pride in the quality of their offerings, be it clothing, fragrances, or other merchandise, and are committed to preventing consumers from falling victim to counterfeit scams.”This latest development comes on the heels of DB Ventures making a significant payout to an undisclosed recipient. Reports indicate that the football legend, who oversees a real estate firm in addition to his numerous business ventures, disbursed a whopping salary of $10 million to an unidentified employee in the year 2022. Stay tuned for more insightful updates, and be sure to follow us for valuable information to keep you informed. Source: USA Today
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Source: USA Today