The Spice Girls are set for a money-spinning reunion next spring after agreeing to use Girl Power to boost their dwindling spending power.

Victoria 'Posh Spice' Beckham, whose eponymous fashion empire saw its annual losses double to £8.5 million last week, has always refused to sing again. But a source close to the chart-topping band revealed a compromise – she and the other four members will judge a Chinese reality show to "find the next global pop star".

The key to the reunion is music svengali and Pop Idol creator Simon Fuller, who is credited with the phenomenal commercial success of the Spice Girls and 'Brand Beckham', the MailOnline reported.

At the height of 'Spice Mania' in the late 1990s, there was a hit movie, Spice World, as well as dolls, stationery, trainers and even lollipops as part of a huge promotional push that saw them become the most merchandised group in history – and the most lucrative since The Beatles. The source said: 'Victoria vowed she would never sing with the girls again, and she won't.

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The Spice Girls - Melanie B, Melanie C, Geri Halliwell, Victoria Adams And Emma Bunton. Photo / Getty
The Spice Girls - Melanie B, Melanie C, Geri Halliwell, Victoria Adams And Emma Bunton. Photo / Getty

"But now they've found a way round that. They will go to China in the spring and do the television show. In terms of money, they're not doing it for pennies.

"The plan is that lots of endorsements and other big-money deals will snowball from this.

"Simon Fuller sees a lot of potential profit in their merchandise, as well as their back catalogue. We're talking millions here."

The band members have enjoyed mixed financial fortunes recently. As well as Victoria's losses, Mel B has just emerged from an expensive divorce, while Geri Halliwell's solo company, Wonderful Productions, has seen its profits collapse from £179,258 in 2014 to just £4,568 last year.