Do you think being a famous Hollywood star would make a business venture profitable? Well, not all celebrity-founded or celebrity-inspired business can be a success and this article compiled some of the worst celebrity entrepreneur blunders as well as strange celeb side businesses and successes.
Most if not all successful and famous celebrities are often offered to endorse a brand in exchange of hefty sums. But sometimes, some would take a risk and start their own companies.
Top 3 Celebrity Entrepreneur Blunders
1. Planet Hollywood - Arnold Schwarzenegger, Bruce Willis, Demi Moore, Sylvester Stallone and etc.
Planet Hollywood has often been ranked on top of celebrity entrepreneur fails by several websites. Since it aims to be the next Hard Rock Café, it expanded too quickly with almost 100 locations worldwide.
Unfortunately, the company began losing money due to the rapid expansion. Today, there are only six restaurants left and Schwarzenegger has already sold the rest of his shares from Planet Hollywood, My First Class Life reveals.
2. Nicky-O Hotel - Nicky Hilton
Despite being an heiress to the Hilton legacy, Nicky Hilton failed to invade the hotel industry. In fact, her Nicky-O Hotel in South Beach, Florida in 2007 filed for bankruptcy even before construction ever started, WatchMojo notes.
3. Pastelle Clothing - Kanye West
Kanye West has found success in the fashion industry in the last few years. However, it wasn't always that way for the Grammy-winning rapper and producer, especially when he tried to launch a clothing line named Pastelle in 2009.
According to Business News Daily, the venture was over before it truly began. In fact, the line was cancelled just two days after photos previewing the collection were released online.
Top 3 Celebrity Successes
1. CaféMom.com - Andrew Shue
This social networking site was cofounded by "Melrose Place" star Andrew Shue. It is considered as one of the most successful start-ups as it was ranked among Ranked among comScore's top 50 Web properties, Forbes' top 100 sites for women, and Business Insider's 100 most valuable startups.
2. Victoria Beckham Fashion Line - Victoria Beckham
Victoria Beckham aka Posh Spice started her eponymous fashion line in 2008. According to Fortune, David Beckham's wife showcased her flagship designs at NYFW.
Since then, Victoria's fashion line came stronger. Thus, the U.K. business journal Management Today named her Britain's top entrepreneur of the year in October 2014 and listed her wealth at $320 million.
3. Beats Electronics aka Beats by Dre - Dr. Dre
Dr. Dre turned his talent in music a success! The reason? Well, let's just say his audio product line he cofounded, Beats Electronics popularly known as Beats by Dr. Dre, became a huge hit, Us Weekly reports.
Top 3 Strange Celebrity Side Businesses
1. Diamond Mine - Akon
"Smack That" rapper Akon bought a diamond mine in South Africa in 2005. And the rapper only wears diamonds from his mine, as per Business Insider.
2. V Starr Interiors - Venus Williams
Did you know that tennis superstar Venus Williams started her own commercial and residential interior design company in 2002? Well, the company is based in Florida and has decorated athletic facilities, production studios and the home of NFL players, Sun Sentinel learns.
3. Bird Bakery - Armie Hammer
Hammer opened a bakery in San Antonio known as the Bird Bakery, where most of the recipes are adaptations of his wife's grandmother's original desserts and breads. Speaking of his wife, Elizabeth Chambers, is the bakery's co-creator.
