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Friends of billionaire heiress Petra Ecclestone might wonder if she has fallen on hard times as she is reportedly selling her old wares to make some money.

The 32-year-old socialite is one of the daughters of billionaire ex-Formula One boss Bernie Ecclestone and she is engaged to ex-car salesman Sam Palmer.

While Petra herself is said to be worth a huge fortune – and has enjoyed a past career in the limelight as a model and fashion designer.

But now Petra and her husband to be are rounding up all their unloved clothes and selling them – launching a brand new business in the process.

Petra Ecclestone is launching a new business where she will sell her old clothes
(Image: Dave Benett/Getty Images)

According to the Daily Mail: “Petra and her fiancé, Sam, are to launch a business selling ‘pre-owned designer clothes’ belonging to her and her sister Tamara.”

While Sam is quoted by the outlet saying: “We’re starting out with our family’s clothes but we’re going to be taking other people’s designer clothes soon.

“And we want to add other pieces to it as well, like sneakers. We’re both quite into trainers at the moment.

Petra's husband-to-be, Sam Palmer, has discussed the new business venture
(Image: Instagram)

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“We’ve become sneaker addicts.”

Petra was previously married to businessman James Stunt – with the pair tying-the-knot in 2011 but enduring a bitter divorce in 2017.

The high profile split led to a reported £5.5 billion divorce – after which Petra was granted full custody of their three children, and was allowed to relocate herself to the USA.

Petra and Sam have one daughter together, while she has three other children from her past marriage
(Image: Instagram)

While Petra and Sam welcomed their first child together in February 2020 – with the couple managing to keep the arrival something of a secret for several weeks.

Sam announced his daughter’s arrival in April last year, saying via social media: “I have received lots of messages asking when the baby is due. We had a beautiful daughter a few weeks ago.

“Thanks for all the messages. Mother and daughter are both very well. She is yet to see the world, but I've told her she will one day if she behave.”