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Investing in a business concern to ensure yous have a stable income seems similar a wise decision — until information technology isn't. Even celebrities who already have a ton of greenbacks can't be devil-may-care nearly choosing investments if they want to stay rich. From restaurants to vesture lines, the opportunities are plentiful, simply information technology takes careful planning to avoid embarrassing concern disasters.
Depending on your age, you probably think these unforgettable celebrity business organisation flops. Think you can guess who lost the most? Allow'due south take a wait!
Britney Spears – Nyla Eating place
When Britney Spears opened Nyla Eating house in 2002, the fizz was existent. She was in her prime years, and information technology seemed logical she would invest in a different type of business organisation. Nyla was located in the Dylan Hotel in Manhattan, New York City.
Her departure from the business occurred in the aforementioned year afterward she butted heads with the direction, who claimed she was responsible for the restaurant's debt and other financial issues. Fun fact: The restaurant was supposed to be chosen "Pinky," which was the nickname Justin Timberlake gave Britney when they were dating.
The Kardashians – Kardashian Kard
The Kardashians are definitely business moguls, but not all their business ventures have been a success. Take the Kardashian Kard, for instance. In 2010, the Kardashians announced a controversial debut of a prepaid debit bill of fare featuring the sisters' faces on the front. The business failed a month after its launch when the legality of certain fees raised concerns.
An attorney claimed the high fees were unfair and unethical, particularly for the Kardashians' largely young developed fanbase. Many reputable websites took note of the "Kardashian Kard ripoff," which prompted the Kardashian family'due south attorney to take firsthand action and end the business to protect their reputation.
Kanye West – Pastelle Wear Line
Yeezy has had plenty of fashion debuts during his career, and not all of them accept been successful — or inspiring. Earlier his other mode 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 desire to invest a sufficient amount of money to get the business concern off the ground. Kanye himself said you demand to invest at to the lowest degree $100 million when y'all'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. I of those epic failures was a very aggressive airline. Back in 1988, Donald Trump introduced his own branded airline shuttle. The luxury shuttle service was supposed to run between Washington D.C., Boston and New York.
Reddish carpets, gold and other luxury elements cost Trump $1 meg per shipping. Three months after the launch, one of his planes almost crashed. The near miss, rising fuel prices and a bank loan of $380 million made Trump decide it was time to leave his aviation dreams behind and try something else.
Paris Hilton – Dollhouse Collection
It has been proven plenty of times that Paris Hilton knows what she'southward doing when it comes to business concern. The Hilton heir has made quite a proper name for herself, but not every idea resulted in cash in the bank. In 2008, Paris Hilton for Dollhouse was released.
It was a collaboration between Hilton and the popular clothing label, and admittedly everyone was buzzing about it. The collection basically had Paris' face and name on almost every article of clothing. Unfortunately, the celebrity didn't last long, and Paris moved on to other business organization ventures that garnered more appeal.
Oprah Winfrey – OWN
In 2011, Oprah was the talk of the town when she decided to operate a cable aqueduct attainable to lxxx million homes. The Oprah Winfrey Network (Ain) was an ambitious idea, with more $500 million invested in the projection. Unfortunately, her team failed from the beginning to understand what people responded to and how they watched cable channels. Low ratings and viewership hitting the network hard.
OWN was arguably Oprah'south biggest failure, but different other celebrities on our list, Oprah yet hasn't completely given up on her business organisation venture. Who knows? Possibly Ain is finally on track to pull itself out of some night days.
Jennifer Lopez – Madre'south Restaurant
Celebrities take a matter for restaurants, but not all restaurants take a matter for celebs. Madre's was inspired by J.Lo's mom and grandmother's cooking, and it started its bumpy journeying in 2002 in Pasadena, California. In her own words, she described information technology as "a family restaurant with a footling bit of sexiness to it."
It lasted about half dozen years before mysteriously closing its doors in 2008. The Latin American restaurant featured some of the civilization'due south most typical dishes, but J.Lo's proper noun wasn't enough to entice the public. No official reason was ever given for the determination to close it down, but the assumption is poor performance.
Naomi Campbell & Friends – The Fashion Cafe
In her prime (mid-1990s), Naomi Campbell decided information technology was time to savour some passive income in the form of concern ventures. In 1995, she became the face of a glamour-themed cafe chain called Fashion Café along with Christy Turlington, Elle Macpherson and Claudia Schiffer.
It had a solid start and good buzz, only the novelty eventually faded, and it failed to make the necessary profit to stay open. To height information technology all off, the business partners got involved in a money laundering scandal, making it clear that information technology was meliorate for this cafe concatenation to close its doors for expert.
Steven Spielberg – Swoop Restaurant
Steven Spielberg's heed seems to overflow with amazing ideas, but Dive Restaurant wasn't one of them. In 1994, he decided to open a nautical-themed restaurant in Beverly Hills. The place was filled with impressive swoop-themed decor and even featured a simulated diving session experience.
That still wasn't enough to charm the enervating Beverly Hills crowd, and the novelty of information technology started to wear off, resulting in dismal merchandise sales, which were a huge selling point for the concern. In 1999, the restaurant officially shut its doors and became a learning lesson for what not to exercise in the niche of themed restaurants.
Blob Hogan – Pastamania Eating house
When Hulkmania was at its peak, Hulk Hogan decided to introduce Minneapolis' Mall of America to the ultimate Hulk eating experience. Who wouldn't want to exist stiff and tough similar Hulk Hogan, right? Although information technology definitely seemed like a solid business organisation investment idea dorsum in 1995, it didn't work out in the end.
The carte du jour wasn't that different from your standard pasta eating place card, apart from the fact that it was branded by anybody's favorite wrestling guy. The eatery shut its doors almost a twelvemonth later, assuasive the Pastamania name to be used past a fast food chain from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the just Trump business venture that failed to plough a profit back in the day. With his focus on real manor, it's non surprising he tried to dip into the mortgage business. The success of this venture was very brusk lived.
Most of the Trump Mortgage failure came downwards 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'south background. In 2007, Trump Mortgage officially closed down afterwards failing to thrive in the struggling market.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a pop member of Autumn Out Boy, and several other musicians decided it was time to open a nightclub. Wentz claimed he but wanted a place for him and his friends to hang out. Later on, the club launched in several other locations, including Chicago.
The hype of the celebrity-owned nightclub died downwardly afterwards information technology was reported that the New York location got caught serving alcohol to minors and had to shut down in 2012. A few years later on, they besides closed the Chicago location — and that was the cease of the Fall Out Male child nightclub.
Jim McMahon – McMahon'south Steakhouse
Ex-Chicago Bear Jim McMahon made a proper noun for himself in the NFL in the '90s and also idea he could make a proper noun for himself by investing in a eating house — a steakhouse in Chicago. Unfortunately, McMahon got into business with some pretty questionable characters whose reputation wasn't pristine amid those in the bank loan earth.
The restaurant was beginning called Chicago Stadium, but the owners of the Chicago Stadium apace sued McMahon and his other business concern partners. According to reports, the eating house participated in some shady concern practices, and McMahon had to distance himself from it.
Eva Longoria – Beso Eatery and Nightclub
Eva Longoria is no stranger to the culinary scene — remember her part as a guest estimate on season 4 of MasterChef? In 2008, she backed a Los Angeles eatery called Beso. The identify was a hot spot for quite some time earlier endmost its doors in 2011 amidst a ton of drama.
The business filed for bankruptcy in order to restructure $5.seven 1000000 worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso later relaunched nether new ownership (without Longoria) and with a new name, Viva Hollywood, simply that restaurant eventually closed as well.
Jay-Z – J-Hotels
The earth's first billionaire rapper is no stranger to successful business ventures, only the thought 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's Chelsea surface area, just lack of funding and a recession halted the construction.
The recession going on at the time basically made information technology harder to go the funding needed, and the whole business project was put on hold in 2008. It looks similar it never resumed, probably because Jay-Z became interested in enough of other appealing ventures.
Natalie Portman – Té Casan
Let'south have a intermission from restaurants and hotels for a while and go to 2008, which really seemed to be a prime time for celebrity business investments and hotels. Natalie Portman was ahead of her fourth dimension 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 manner to go. Unfortunately, the high price of the shoes didn't exactly appeal to consumers — non even diehard vegans — and the shoe line'due south website disappeared by the end 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 effort other business ventures and invested in a large café in Atlanta that seated 105 guests.
The card consisted of high-quality dishes that were also considered healthy. Although it seemed similar a decent thought and the cafe had big expansion dreams, the success didn't concluding. 3 years after, Cafe Dupri had to close its doors afterwards struggling to make enough profit.
Beyonce – House of Deréon
That's right — Queen B has experienced many failures along with her success. Sounding similar a business firm out of Game of Thrones, Business firm of Deréon was a fashion 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 first, it was ultimately criticized for its high prices. In 2008, the line also came nether burn for its advertisement with little girls wearing full makeup and loftier heels. The star discontinued the line in 2012 without formal notice.
Lily Allen – Lucy in Disguise
Lily Allen as well tried to dabble in the fashion world. The eccentric singer is known for her way sense, and then it seemed only fair to see if the rest of the world (or at least London) would catch on to her look. She opened Lucy in Disguise, a vintage clothing shop, with her sister in 2010.
The store'south location was one of the reasons for its failure — London's Covent Garden. High existent manor prices forced the company to motility to a somewhat cheaper property in Soho, simply it wasn't enough to relieve the business, and it ceased operations in 2012.
Neil Immature – PonoPlayer
PonoPlayer was a adequately modern business venture launched by Neil Young in 2014. It was actually successfully crowdfunded via the popular platform Kickstarter, where information technology raised $half-dozen.2 million. The device was advertised as a mod-day iPod with hi-resolution music service, but it was criticized for its poor blueprint and high toll tag ($400).
Three years afterward, Neil Immature ceased operations and closed the PonoMusic store, which sold downloadable music. The reason? Record companies were charging too much for howdy-res music formats, and the business couldn't make a profit, despite the steep toll of PonoPlayer and its initial funds.
Sylvester Stallone, Arnold Schwarzenegger & Bruce Willis – Planet Hollywood
Planet Hollywood was a '90s sensation and boasted more than than 100 locations. Stallone, Schwarzenegger and Willis were its investors and the faces promoting the brand. The initial hype of eating among popular motion-picture show 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 make a turn a profit. This prompted investors like Arnold Schwarzenegger to move on and cut ties with the business. Planet Hollywood is still effectually just with much less hype and fewer restaurants.
Kevin Costner – The Clubhouse
Themed restaurants were extremely popular investments for celebrities, and Kevin Costner was in on the idea too. In 1997, he dabbled in the food manufacture in an effort to make more than money, of form. The theme of The Clubhouse was golf, and unlike many other celebrity restaurants, it managed to last a surprisingly long time.
Based in Costa Mesa, California, it featured the sectional expect and mode of a golf clubhouse that was open to the public. Ironically, it opened right across from Planet Hollywood, which was closing at the time. The business began to fail in 2007.
Curt Schilling – 38 Studios
A unique business organization venture for its time, 38 Studios was the abstraction of Curt Schilling, who had a different vision than most sports celebrities. The sometime Red Sox pitcher wanted to try something new, and so he launched a video game business in 2006. Unfortunately, game development takes years, and that was difficult to sell to investors.
The visitor released an action role-playing game chosen Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming company declared bankruptcy in 2012 later only releasing a single game. Despite the business' failure, the game was pretty well received past the gaming community.
Pharrell Williams – Qream Liqueur
Pharrell Williams ever had big visions and a skilful ear for music, but in 2011, the pop producer ventured into the earth 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 bereft marketing efforts to launch the liqueur, and he sued the company in 2013 afterwards it appeared to abandon the deal before the contract was over. The drink wasn't marketed effectively, and the Qream dream died with minimal fanfare.
Flavor Flav – Flavor Flav'southward Craven & Ribs
Who doesn't know Season Flav? In 2011, the popular rapper decided to combine his love of fast food with business organisation past opening a restaurant in Clinton, Iowa. Although it sounds yummy, the business organization really didn't last that long. In fact, information technology'southward i of the shortest examples of business failure on the list — three months.
The restaurant closed its doors due to a fallout between Flavor Flav and his business partner, Nick Cimino. The two clashed over operations and money management, leading Flav to make up one's mind that fast nutrient really wasn't for him after all — at to the lowest degree when it came to running a business.
50 Cent – Magic Stick Condom
Magic Stick was 50 Cent's attempt at a unique business organisation venture — in condoms. Yes, you read that correct. In 2008, the rapper created a line of condoms, but he apparently failed to sympathise the reason behind condoms in the get-go identify. His company's condoms were laced with chemicals designed to increase the wearer's sexual operation.
The rapper was asked about his failed business organisation venture, and he said, "Information technology just didn't work out considering I wanted things in information technology that wouldn't work." P.S.: "Candy Shop" lyrics were written way earlier the Magic Stick line was launched.
Blake Lively – Preserve
Blake Lively is known for the awesome sense of humour she shares with her even more than awesome husband. In 2014, she decided to launch a lifestyle website. The timing was perfect, every bit glory lifestyle websites were at their peak, only Lively wasn't a big enough lifestyle effigy to attract much interest.
Celebrity production endorsements are ofttimes too expensive for the general public and can also feel fake, which raises concerns when information technology comes to trust. The website was abased about a year later, and her lifestyle venture was never mentioned once more. That'south okay, she's even so owning the Instagram game.
Heidi Montag – Heidiwood
Welcome to Heidiwood, a fashion line that failed to connect with its customers and make sufficient profit. It belonged to Heidi Montag, a pop reality boob tube graphic symbol who wanted to be known for more than just her dramatic Goggle box roles. She launched Heidiwood in 2007 in collaboration with Ballast Blue Retail.
Although the line looked promising, customers didn't really intendance for the overpriced items, and her contract wasn't renewed the following year. She returned to reality Television receiver and is still a prominent figure in the celebrity gossip world, and then 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 sister Nicky Hilton wanted to stay true to her family legacy and open a hotel concatenation of her own. Nicky O Hotels was a premier luxury hotel make, set up to launch in Miami and later Chicago.
Hilton planned to work with Roberto Cavalli to design a luxurious penthouse suite for the Miami location. Her appetite was to combine the world of entertainment with luxury and pattern. However, the project failed to see the light of day after a lawsuit against Hilton highlighted an alleged breach of contract.
Jennifer Lopez – Sweetface
Making the list again, J.Lo's loftier-end Sweetface clothing line was withal another failure in the glory style earth. Attempting to combine urban streetwear with modern style, the line failed to deliver anything unique that couldn't be institute for a cheaper price in a store downward the street — according to shoppers' feedback.
Customers complained about loftier prices as well as the quality of the apparel. Negative feedback and poor sales forced Kohl's to completely stop the line'due south production in 2009. Fun fact: Sweetface was J.Lo's nickname, given to her by her old manager.
Source: https://www.consumersearch.com/technology/celebrity-business-disasters-donald-trump?utm_content=params%3Ao%3D740007%26ad%3DdirN%26qo%3DserpIndex
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