From Sachin Tendulkar to Donald Trump: Celebrity business ventures that didn't quite make the cut
Kylie Jenner, Kanye West, Rihanna and Michael Jordan, among other influential people have leveraged their fame to launch successful celebrity brands, many of which have achieved billion-dollar valuations or higher.
However, it doesn¡¯t mean that if a big name is attached to something, it will always be successful. Let¡¯s take a look at celebrity ventures that have either failed to take off or are reportedly encountering challenges in maintaining their presence in the market. Scroll!
1. Donald Trump's Trump Airlines
While he is gearing up to contest in the upcoming US elections once again, Trump has encountered numerous business failures throughout his extensive career, including the notorious downfall of Trump Airlines.?Introduced in 1988, the high-end shuttle service connecting Washington DC, New York, and Boston failed to gain traction, leading Trump to default on the $245 million (?130.9m) bank loan he secured to establish the enterprise.
Also Read:?How Rich Is Donald Trump? A Look At The Net Worth Of First Convicted US President
2. Amitabh Bachchan¡¯s Company ABCL
In 1999, legendary actor Amitabh Bachchan encountered a significant financial crisis when his company, Amitabh Bachchan Corporation Ltd (ABCL), suffered substantial losses, placing him on the verge of bankruptcy. However, his involvement in movies and hosting the reality show "KBC" enabled him to repay the debt.
3. Sachin Tendulkar¡¯s Restaurant Tendulkar¡¯s
The 'God of Cricket' Sachin Tendulkar also ventured into business by opening a restaurant in 2002. However, the venture failed to gain momentum due to a lackluster response from customers, leading to its closure just two years later.
4. Saurav Ganguly¡¯s Restaurant The Food Pavilion
The 'Prince of Kolkata' Saurav Ganguly also ventured into business by opening a restaurant named 'The Food Pavilion' in Bengal. However, similar to Sachin's experience, the restaurant met with a similar fate and was closed down in 2011.
5. Sonam Kapoor & Rhea Kapoor¡¯s Fashion Brand Rheson?
Launched in 2017 by Neerja actress Sonam Kapoor and her sister Rhea Kapoor, the fashion brand Rheson aimed to provide affordable and trendy fashion wear. Despite its initial popularity, the brand encountered difficulties in establishing a robust market presence and ultimately failed to generate profits.
6. Kanye West's Pastelle Fashion Line
Kanye West's venture into the fashion industry has been a mixed bag. While his collaboration with Adidas for the Yeezy line garnered significant attention and success, his planned clothing line, Pastelle, which was scheduled for release in the spring of 2006, failed to materialize and was ultimately shelved in 2009.
7. Jennifer Lopez's Madre's Restaurant And Sweetface Fashion Line
Despite experiencing several entrepreneurial successes, Jennifer Lopez has encountered two significant business setbacks. Her restaurant venture, Madre's, closed its doors in 2008, and her fashion line, Sweetface, was discontinued the following year due to underwhelming sales.
8. The Kardashian sisters' Kardashian Kard Debit Card
While the Kardashian sisters have amassed millions of dollars through their various businesses and endorsements, their foray into prepaid debit cards faced significant backlash. The 'Kardashian Kard' was abandoned just a month after its launch in November 2010, primarily due to criticism over its exorbitant fees.
Also Read:?Who Is The Richest Kardashian? From Kim To Kris, Here's A Breakdown Of Their Net Worth
9. Jay-Z's J Hotel
The acclaimed rapper has diversified his portfolio across various lucrative industries, including fashion, real estate, sports teams, record labels, and beverages, establishing an impressive business empire.
However, Jay-Z faced setbacks as well. In 2010, he incurred substantial losses on a failed luxury hotel investment in New York.
10. Beyonc¨¦'s House of Der¨¦on Clothing Line
While Beyonc¨¦ has demonstrated a talent for wealth accumulation, her fashion venture, the House of Der¨¦on, which she co-founded with her mother Tina Knowles in 2006, turned out to be a business failure. Critics ridiculed the line for its gaudy designs and high prices, leading to its eventual demise. The House of Der¨¦on was quietly discontinued in 2012.
11. Rihanna's Fenty Fashion Label
Rihanna's Fenty fashion label shuttered its doors in 2021. Rihanna had made history as the first black woman to helm a fashion house under the prestigious French LMVH brand.
Critics dismissed the high price point of Fenty clothing, asserting that it was unattainable for the singer's core fanbase. However, amidst the setback, Rihanna's Savage X Fenty lingerie line, as well as her Fenty Beauty and Fenty Skin ventures, continue to generate substantial revenue, signaling ongoing success in the beauty and lingerie industries.
