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Investing in a business to ensure you have a stable income seems similar a wise decision — until it isn't. Fifty-fifty celebrities who already accept a ton of cash tin can't exist devil-may-care about choosing investments if they want to stay rich. From restaurants to clothing lines, the opportunities are plentiful, but information technology takes careful planning to avoid embarrassing business disasters.
Depending on your age, you probably recall these unforgettable celebrity business flops. Think you lot can guess who lost the well-nigh? Permit's take a look!
Britney Spears – Nyla Eatery
When Britney Spears opened Nyla Restaurant in 2002, the buzz was real. She was in her prime years, and it seemed logical she would invest in a different type of concern. Nyla was located in the Dylan Hotel in Manhattan, New York City.
Her departure from the business occurred in the aforementioned yr afterward she butted heads with the management, who claimed she was responsible for the restaurant's debt and other financial issues. Fun fact: The eatery was supposed to be called "Pinky," which was the nickname Justin Timberlake gave Britney when they were dating.
The Kardashians – Kardashian Kard
The Kardashians are definitely business moguls, but non all their business concern ventures have been a success. Take the Kardashian Kard, for example. In 2010, the Kardashians announced a controversial debut of a prepaid debit carte du jour featuring the sisters' faces on the front. The business concern failed a calendar month after its launch when the legality of certain fees raised concerns.
An attorney claimed the high fees were unfair and unethical, especially for the Kardashians' largely immature developed fanbase. Many reputable websites took notation of the "Kardashian Kard ripoff," which prompted the Kardashian family unit's attorney to take immediate action and cease the business to protect their reputation.
Kanye West – Pastelle Clothing Line
Yeezy has had enough of fashion debuts during his career, and not all of them have been successful — or inspiring. Before his other fashion lines, there was Pastelle, the debut that never saw a debut. In 2006, Kanye planned to release his Pastelle clothing line in collaboration with Adidas.
In brusque, a lot of drama happened, and according to reports, the investors didn't want to invest a sufficient amount of money to get the business off the ground. Kanye himself said you need to invest at least $100 million when you're making a new brand, and it conspicuously didn't happen.
Donald Trump – Trump Shuttle
Number 45 is a known businessman, but not many people know about his business failures. 1 of those epic failures was a very ambitious airline. Dorsum in 1988, Donald Trump introduced his own branded airline shuttle. The luxury shuttle service was supposed to run betwixt Washington D.C., Boston and New York.
Cherry carpets, golden and other luxury elements price Trump $i million per aircraft. Three months after the launch, one of his planes virtually crashed. The most miss, ascent fuel prices and a bank loan of $380 1000000 made Trump make up one's mind it was fourth dimension to leave his aviation dreams backside and attempt something else.
Paris Hilton – Dollhouse Collection
It has been proven plenty of times that Paris Hilton knows what she's doing when information technology comes to business. The Hilton heir has fabricated quite a proper noun for herself, only not every idea resulted in cash in the bank. In 2008, Paris Hilton for Dollhouse was released.
It was a collaboration betwixt Hilton and the popular clothing label, and absolutely everyone was buzzing almost it. The collection basically had Paris' face up and proper noun on nigh every article of clothing. Unfortunately, the celebrity didn't last long, and Paris moved on to other business ventures that garnered more appeal.
Oprah Winfrey – Own
In 2011, Oprah was the talk of the town when she decided to operate a cable channel attainable to 80 million homes. The Oprah Winfrey Network (Own) was an ambitious idea, with more $500 million invested in the project. Unfortunately, her team failed from the first to empathize what people responded to and how they watched cable channels. Low ratings and viewership hitting the network hard.
OWN was arguably Oprah's biggest failure, but unlike other celebrities on our list, Oprah nonetheless hasn't completely given up on her business concern venture. Who knows? Maybe OWN is finally on rail to pull itself out of some nighttime days.
Jennifer Lopez – Madre's Eatery
Celebrities accept a matter for restaurants, but not all restaurants have a thing for celebs. Madre'due south was inspired past J.Lo'due south mom and grandmother's cooking, and it started its bumpy journeying in 2002 in Pasadena, California. In her own words, she described it as "a family restaurant with a little bit of sexiness to it."
It lasted about half dozen years earlier mysteriously closing its doors in 2008. The Latin American restaurant featured some of the culture's about typical dishes, but J.Lo'due south name wasn't enough to entice the public. No official reason was ever given for the conclusion to close information technology down, but the assumption is poor performance.
Naomi Campbell & Friends – The Fashion Cafe
In her prime (mid-1990s), Naomi Campbell decided it was time to enjoy some passive income in the class of business ventures. In 1995, she became the face up of a glamour-themed buffet chain called Manner Café along with Christy Turlington, Elle Macpherson and Claudia Schiffer.
Information technology had a solid start and good fizz, but the novelty somewhen faded, and it failed to brand the necessary profit to stay open. To peak it all off, the concern partners got involved in a coin laundering scandal, making it clear that it was improve for this cafe chain to close its doors for good.
Steven Spielberg – Dive Restaurant
Steven Spielberg's mind seems to overflow with astonishing ideas, but Dive Restaurant wasn't i of them. In 1994, he decided to open a nautical-themed eatery in Beverly Hills. The place was filled with impressive dive-themed decor and fifty-fifty featured a simulated diving session feel.
That still wasn't enough to charm the enervating Beverly Hills oversupply, and the novelty of information technology started to article of clothing off, resulting in dismal merchandise sales, which were a huge selling point for the concern. In 1999, the eating place officially shut its doors and became a learning lesson for what not to do in the niche of themed restaurants.
Hulk Hogan – Pastamania Restaurant
When Hulkmania was at its summit, Blob Hogan decided to innovate Minneapolis' Mall of America to the ultimate Hulk eating experience. Who wouldn't desire to exist potent and tough like Hulk Hogan, right? Although information technology definitely seemed similar a solid business organisation investment idea back in 1995, it didn't work out in the cease.
The menu wasn't that dissimilar from your standard pasta eating house menu, apart from the fact that it was branded by everyone's favorite wrestling guy. The eating place shut its doors near a year after, allowing the Pastamania name to be used by a fast nutrient chain from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the just Trump business organization venture that failed to turn a profit back in the day. With his focus on real estate, information technology'southward non surprising he tried to dip into the mortgage concern. The success of this venture was very short lived.
Near of the Trump Mortgage failure came downwardly to poor timing, as the 2006 recession struck, and the mortgage lending industry began to crumble with the market crash. Everything was questioned, including the CEO's groundwork. In 2007, Trump Mortgage officially closed down later on declining to thrive in the struggling market place.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a pop member of Fall Out Boy, and several other musicians decided information technology was time to open a nightclub. Wentz claimed he just wanted a place for him and his friends to hang out. Later, the club launched in several other locations, including Chicago.
The hype of the celebrity-owned nightclub died downwardly after it was reported that the New York location got defenseless serving alcohol to minors and had to shut downwards in 2012. A few years afterwards, they besides closed the Chicago location — and that was the cease of the Fall Out Boy nightclub.
Jim McMahon – McMahon's Steakhouse
Ex-Chicago Comport Jim McMahon made a name for himself in the NFL in the '90s and also thought he could brand a proper noun for himself by investing in a eating place — a steakhouse in Chicago. Unfortunately, McMahon got into business with some pretty questionable characters whose reputation wasn't pristine amidst those in the bank loan world.
The restaurant was beginning called Chicago Stadium, but the owners of the Chicago Stadium quickly sued McMahon and his other business partners. According to reports, the restaurant participated in some shady business practices, and McMahon had to distance himself from it.
Eva Longoria – Beso Restaurant and Nightclub
Eva Longoria is no stranger to the culinary scene — call back her role equally a invitee judge on season iv of MasterChef? In 2008, she backed a Los Angeles restaurant called Beso. The identify was a hot spot for quite some time before closing its doors in 2011 amongst a ton of drama.
The business organisation filed for bankruptcy in order to restructure $5.7 million worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso later relaunched nether new ownership (without Longoria) and with a new proper noun, Viva Hollywood, but that restaurant eventually closed too.
Jay-Z – J-Hotels
The world'southward beginning billionaire rapper is no stranger to successful business ventures, just the idea that "the heaven is the limit" definitely doesn't apply here. Jay-Z definitely reached a limit with his investment in J-Hotels. The luxury hotel was supposed to open up in Manhattan'due south Chelsea expanse, but lack of funding and a recession halted the construction.
The recession going on at the time basically made it harder to become the funding needed, and the whole business project was put on hold in 2008. It looks like it never resumed, probably because Jay-Z became interested in enough of other appealing ventures.
Natalie Portman – Té Casan
Let'southward take a break from restaurants and hotels for a while and become to 2008, which actually seemed to be a prime fourth dimension for glory business organisation investments and hotels. Natalie Portman was alee of her time when she collaborated with Té Casan to create a vegan shoe line.
As a long-term vegan, she felt the need to invest in something she believes in, and she felt a shoe line was definitely the way to go. Unfortunately, the high price of the shoes didn't exactly appeal to consumers — non even diehard vegans — and the shoe line's website disappeared past the finish of 2008.
Jermaine Dupri – Café Dupri
Jermaine Dupri rose to popularity in the '90s. From forming the iconic Kris Kross to producing music for all your favorite celebrities, Dupri was definitely at the top of his game. In 2005, he decided to try other business ventures and invested in a big café in Atlanta that seated 105 guests.
The menu consisted of high-quality dishes that were likewise considered good for you. Although it seemed like a decent thought and the cafe had big expansion dreams, the success didn't last. Three years later, Buffet Dupri had to close its doors after struggling to brand plenty profit.
Beyonce – House of Deréon
That'southward right — Queen B has experienced many failures along with her success. Sounding like a firm out of Game of Thrones, Business firm of Deréon was a way line Beyonce collaborated with her mother, Tina Knowles, to create in 2006. The name paid tribute to Beyonce's maternal grandmother.
The style mixed the influences of hip hop with high fashion, and although it seemed like it was taking off at start, information technology was ultimately criticized for its high prices. In 2008, the line also came under fire for its ad with little girls wearing full makeup and high heels. The star discontinued the line in 2012 without formal notice.
Lily Allen – Lucy in Disguise
Lily Allen likewise tried to dabble in the fashion world. The eccentric vocaliser is known for her fashion sense, and then information technology seemed only off-white to meet if the rest of the world (or at to the lowest degree London) would catch on to her look. She opened Lucy in Disguise, a vintage habiliment store, with her sister in 2010.
The store's location was one of the reasons for its failure — London's Covent Garden. High real manor prices forced the company to move to a somewhat cheaper belongings in Soho, but it wasn't enough to salve the business organization, and it ceased operations in 2012.
Neil Immature – PonoPlayer
PonoPlayer was a fairly modern business venture launched by Neil Young in 2014. It was actually successfully crowdfunded via the popular platform Kickstarter, where information technology raised $6.ii 1000000. The device was advertised every bit a modern-mean solar day iPod with howdy-resolution music service, but it was criticized for its poor design and high price tag ($400).
Three years subsequently, Neil Immature ceased operations and closed the PonoMusic store, which sold downloadable music. The reason? Record companies were charging as well much for hello-res music formats, and the business organization couldn't make a profit, despite the steep price of PonoPlayer and its initial funds.
Sylvester Stallone, Arnold Schwarzenegger & Bruce Willis – Planet Hollywood
Planet Hollywood was a '90s awareness and boasted more than 100 locations. Stallone, Schwarzenegger and Willis were its investors and the faces promoting the brand. The initial hype of eating amongst popular film props attracted endorsements from some of the biggest Hollywood names, but it wasn't all sunshine and rainbows.
The business filed for bankruptcy twice and reduced its number of restaurants to less than a dozen to ensure it could financially sustain itself and brand a turn a profit. This prompted investors like Arnold Schwarzenegger to move on and cut ties with the business. Planet Hollywood is however around but with much less hype and fewer restaurants.
Kevin Costner – The Clubhouse
Themed restaurants were extremely pop investments for celebrities, and Kevin Costner was in on the idea also. In 1997, he dabbled in the nutrient manufacture in an try to make more than coin, of course. The theme of The Clubhouse was golf, and unlike many other glory restaurants, it managed to last a surprisingly long time.
Based in Costa Mesa, California, it featured the sectional look and style of a golf clubhouse that was open to the public. Ironically, it opened right beyond from Planet Hollywood, which was closing at the time. The business began to neglect in 2007.
Curt Schilling – 38 Studios
A unique business organisation venture for its fourth dimension, 38 Studios was the brainchild of Curt Schilling, who had a different vision than most sports celebrities. The former Cerise Sox bullpen wanted to endeavour something new, then he launched a video game business in 2006. Unfortunately, game development takes years, and that was hard to sell to investors.
The company released an action function-playing game chosen Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming visitor alleged defalcation in 2012 afterwards only releasing a single game. Despite the business' failure, the game was pretty well received by the gaming community.
Pharrell Williams – Qream Liqueur
Pharrell Williams always had large visions and a good ear for music, but in 2011, the popular producer ventured into the world of liqueur with much less impressive results. He worked with Diageo to launch Qream strawberry and peach liqueurs, specifically marketed to women.
Williams blamed Diageo for insufficient marketing efforts to launch the liqueur, and he sued the company in 2013 subsequently it appeared to abandon the bargain earlier the contract was over. The beverage wasn't marketed effectively, and the Qream dream died with minimal fanfare.
Flavour Flav – Flavor Flav's Craven & Ribs
Who doesn't know Flavor Flav? In 2011, the pop rapper decided to combine his dearest of fast food with business concern past opening a eating place in Clinton, Iowa. Although it sounds yummy, the business really didn't last that long. In fact, it'south one of the shortest examples of business organization failure on the listing — three months.
The eating house airtight its doors due to a fallout between Season Flav and his business organization partner, Nick Cimino. The two clashed over operations and coin direction, leading Flav to decide that fast nutrient actually wasn't for him after all — at least when information technology came to running a business.
50 Cent – Magic Stick Prophylactic
Magic Stick was 50 Cent'southward endeavor at a unique business venture — in condoms. Yes, y'all read that right. In 2008, the rapper created a line of condoms, but he apparently failed to understand the reason behind condoms in the beginning place. His company's condoms were laced with chemicals designed to increment the wearer'southward sexual operation.
The rapper was asked nigh his failed business venture, and he said, "Information technology just didn't piece of work out because I wanted things in it that wouldn't work." P.Southward.: "Candy Shop" lyrics were written mode before the Magic Stick line was launched.
Blake Lively – Preserve
Blake Lively is known for the awesome sense of humor she shares with her fifty-fifty more awesome husband. In 2014, she decided to launch a lifestyle website. The timing was perfect, as glory lifestyle websites were at their peak, merely Lively wasn't a large enough lifestyle figure to attract much involvement.
Celebrity product endorsements are frequently besides expensive for the general public and tin too experience fake, which raises concerns when it comes to trust. The website was abandoned nigh a year later, and her lifestyle venture was never mentioned again. That'southward okay, she's still owning the Instagram game.
Heidi Montag – Heidiwood
Welcome to Heidiwood, a fashion line that failed to connect with its customers and make sufficient profit. Information technology belonged to Heidi Montag, a pop reality television graphic symbol who wanted to be known for more than than just her dramatic Boob tube roles. She launched Heidiwood in 2007 in collaboration with Ballast Blue Retail.
Although the line looked promising, customers didn't really care for the overpriced items, and her contract wasn't renewed the following year. She returned to reality TV and is still a prominent figure in the celebrity gossip world, so she bounced dorsum financially from the failed venture.
Nicky Hilton – Nicky O Hotels
Paris Hilton wasn't the only Hilton making money moves. Back in the day, her sis Nicky Hilton wanted to stay true to her family unit legacy and open up a hotel chain of her ain. Nicky O Hotels was a premier luxury hotel brand, gear up to launch in Miami and later Chicago.
Hilton planned to work with Roberto Cavalli to pattern a luxurious penthouse suite for the Miami location. Her ambition was to combine the world of amusement with luxury and design. However, the projection failed to see the low-cal of day after a lawsuit confronting Hilton highlighted an alleged alienation of contract.
Jennifer Lopez – Sweetface
Making the list once again, J.Lo's high-end Sweetface clothing line was notwithstanding another failure in the celebrity way earth. Attempting to combine urban streetwear with mod fashion, the line failed to deliver anything unique that couldn't be found for a cheaper price in a store down the street — according to shoppers' feedback.
Customers complained about high prices besides every bit the quality of the clothes. Negative feedback and poor sales forced Kohl'south to completely end the line's product in 2009. Fun fact: Sweetface was J.Lo'due south nickname, given to her by her old manager.
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Source: https://www.consumersearch.com/technology/celebrity-business-disasters-donald-trump?utm_content=params%3Ao%3D740007%26ad%3DdirN%26qo%3DserpIndex
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