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Investing in a business to ensure yous have a stable income seems like a wise decision — until it 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 clothing lines, the opportunities are plentiful, but it takes conscientious planning to avert embarrassing business disasters.
Depending on your historic period, you probably remember these unforgettable celebrity business flops. Think you can estimate who lost the almost? Let's take a await!
Britney Spears – Nyla Eating place
When Britney Spears opened Nyla Restaurant in 2002, the fizz was real. She was in her prime years, and it seemed logical she would invest in a different type of business. Nyla was located in the Dylan Hotel in Manhattan, New York City.
Her departure from the concern 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 problems. Fun fact: The eating place was supposed to exist called "Pinky," which was the nickname Justin Timberlake gave Britney when they were dating.
The Kardashians – Kardashian Kard
The Kardashians are definitely business moguls, simply not all their business ventures have been a success. Take the Kardashian Kard, for case. In 2010, the Kardashians appear a controversial debut of a prepaid debit card featuring the sisters' faces on the front end. The business failed a month after its launch when the legality of certain fees raised concerns.
An chaser claimed the high fees were unfair and unethical, especially for the Kardashians' largely young adult fanbase. Many reputable websites took note of the "Kardashian Kard ripoff," which prompted the Kardashian family'south attorney to have firsthand action and cease the business to protect their reputation.
Kanye W – Pastelle Clothing Line
Yeezy has had enough of fashion debuts during his career, and non all of them take 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 short, 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 lot demand to invest at least $100 1000000 when you're making a new make, and information technology clearly didn't happen.
Donald Trump – Trump Shuttle
Number 45 is a known businessman, only not many people know virtually his business organization failures. One 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.
Red carpets, gilded and other luxury elements price Trump $1 million per shipping. Three months after the launch, one of his planes almost crashed. The nearly miss, ascension fuel prices and a banking company loan of $380 meg fabricated Trump decide it was time to exit his aviation dreams backside and try something else.
Paris Hilton – Dollhouse Collection
Information technology has been proven plenty of times that Paris Hilton knows what she'south doing when information technology comes to business organisation. The Hilton heir has made quite a 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 absolutely everyone was buzzing about information technology. The collection basically had Paris' face and name on well-nigh every article of clothing. Unfortunately, the glory didn't final long, and Paris moved on to other business concern ventures that garnered more entreatment.
Oprah Winfrey – OWN
In 2011, Oprah was the talk of the boondocks when she decided to operate a cable channel attainable to 80 1000000 homes. The Oprah Winfrey Network (OWN) was an ambitious idea, with more than $500 1000000 invested in the project. Unfortunately, her team failed from the first to understand what people responded to and how they watched cable channels. Low ratings and viewership hit the network hard.
OWN was arguably Oprah'due south biggest failure, but unlike other celebrities on our list, Oprah however hasn't completely given upwards on her concern venture. Who knows? Maybe Own is finally on track to pull itself out of some dark days.
Jennifer Lopez – Madre's Restaurant
Celebrities accept a thing for restaurants, simply not all restaurants take a thing for celebs. Madre's was inspired past 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 it as "a family eatery with a little bit of sexiness to it."
It lasted most six years before mysteriously closing its doors in 2008. The Latin American restaurant featured some of the civilization'due south most typical dishes, only J.Lo's name wasn't plenty to entice the public. No official reason was ever given for the decision to shut information technology down, but the assumption is poor performance.
Naomi Campbell & Friends – The Fashion Buffet
In her prime (mid-1990s), Naomi Campbell decided information technology was time to enjoy some passive income in the class of business organisation 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, just the novelty somewhen faded, and it failed to make the necessary profit to stay open. To top it all off, the business organization partners got involved in a coin laundering scandal, making it clear that it was improve for this cafe chain to shut its doors for good.
Steven Spielberg – Dive Eating place
Steven Spielberg's listen seems to overflow with amazing ideas, but Dive Eatery wasn't one of them. In 1994, he decided to open a nautical-themed eating house in Beverly Hills. The place was filled with impressive dive-themed decor and even featured a simulated diving session feel.
That withal wasn't enough to amuse the demanding Beverly Hills oversupply, and the novelty of it started to wear off, resulting in dismal merchandise sales, which were a huge selling point for the business. In 1999, the restaurant officially close its doors and became a learning lesson for what not to practice in the niche of themed restaurants.
Hulk Hogan – Pastamania Eating place
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 be strong and tough like Blob Hogan, right? Although it definitely seemed like a solid concern investment idea back in 1995, information technology didn't piece of work out in the end.
The carte wasn't that different from your standard pasta restaurant menu, apart from the fact that it was branded by everyone'south favorite wrestling guy. The eatery shut its doors near a year later on, allowing the Pastamania name to be used by a fast food concatenation from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the merely Trump business venture that failed to turn a turn a profit back in the day. With his focus on real estate, information technology's not surprising he tried to dip into the mortgage business. The success of this venture was very short lived.
Most of the Trump Mortgage failure came down to poor timing, as the 2006 recession struck, and the mortgage lending industry began to crumble with the market place crash. Everything was questioned, including the CEO'due south background. In 2007, Trump Mortgage officially airtight downward later failing to thrive in the struggling market.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a popular member of Fall Out Boy, and several other musicians decided it was time to open a nightclub. Wentz claimed he just wanted a identify 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 down 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 after, they also closed the Chicago location — and that was the stop of the Fall Out Boy nightclub.
Jim McMahon – McMahon'due south Steakhouse
Ex-Chicago Bear Jim McMahon made a name for himself in the NFL in the '90s and as well thought he could brand a name for himself past investing in a restaurant — a steakhouse in Chicago. Unfortunately, McMahon got into business concern with some pretty questionable characters whose reputation wasn't pristine among those in the banking concern loan world.
The restaurant was kickoff called Chicago Stadium, merely the owners of the Chicago Stadium speedily sued McMahon and his other business organisation partners. Co-ordinate to reports, the restaurant participated in some shady business concern practices, and McMahon had to distance himself from it.
Eva Longoria – Beso Restaurant and Nightclub
Eva Longoria is no stranger to the culinary scene — remember her role equally a guest judge on flavor 4 of MasterChef? In 2008, she backed a Los Angeles restaurant chosen Beso. The place was a hot spot for quite some time before endmost its doors in 2011 amidst a ton of drama.
The business concern filed for bankruptcy in club to restructure $five.7 1000000 worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso afterward relaunched under new ownership (without Longoria) and with a new proper name, Viva Hollywood, simply that eating place eventually closed besides.
Jay-Z – J-Hotels
The earth's first billionaire rapper is no stranger to successful business ventures, but the thought that "the sky is the limit" definitely doesn't employ here. Jay-Z definitely reached a limit with his investment in J-Hotels. The luxury hotel was supposed to open in Manhattan'south Chelsea area, but lack of funding and a recession halted the construction.
The recession going on at the time basically made information technology harder to become the funding needed, and the whole business projection was put on hold in 2008. It looks like it never resumed, probably because Jay-Z became interested in plenty of other highly-seasoned ventures.
Natalie Portman – Té Casan
Let'south accept a break from restaurants and hotels for a while and get to 2008, which really seemed to be a prime fourth dimension for celebrity business concern investments and hotels. Natalie Portman was ahead of her time when she collaborated with Té Casan to create a vegan shoe line.
As a long-term vegan, she felt the demand to invest in something she believes in, and she felt a shoe line was definitely the way to get. Unfortunately, the loftier price of the shoes didn't exactly entreatment to consumers — non fifty-fifty diehard vegans — and the shoe line's website disappeared past 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 organisation ventures and invested in a large café in Atlanta that seated 105 guests.
The card consisted of loftier-quality dishes that were also considered healthy. Although information technology seemed like a decent idea and the cafe had large expansion dreams, the success didn't last. Three years later, Cafe Dupri had to shut its doors after struggling to make enough profit.
Beyonce – Firm of Deréon
That's right — Queen B has experienced many failures along with her success. Sounding like a house out of Game of Thrones, House of Deréon was a style line Beyonce collaborated with her female parent, Tina Knowles, to create in 2006. The proper 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 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 fiddle in the fashion world. The eccentric singer is known for her fashion sense, then information technology seemed only fair to see if the remainder of the world (or at to the lowest degree London) would catch on to her await. She opened Lucy in Disguise, a vintage clothing store, with her sister in 2010.
The store's location was 1 of the reasons for its failure — London's Covent Garden. High real estate prices forced the company to movement to a somewhat cheaper property in Soho, but it wasn't enough to save the business organisation, and information technology ceased operations in 2012.
Neil Young – PonoPlayer
PonoPlayer was a fairly modernistic business organisation venture launched by Neil Young in 2014. It was really successfully crowdfunded via the popular platform Kickstarter, where it raised $6.two million. The device was advertised as a modern-day iPod with hi-resolution music service, but it was criticized for its poor pattern and high price tag ($400).
Three years later on, Neil Young ceased operations and closed the PonoMusic store, which sold downloadable music. The reason? Record companies were charging too much for hi-res music formats, and the business organisation couldn't brand 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 sensation and boasted more 100 locations. Stallone, Schwarzenegger and Willis were its investors and the faces promoting the make. The initial hype of eating among popular movie 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 information technology could financially sustain itself and make a turn a profit. This prompted investors similar Arnold Schwarzenegger to move on and cut ties with the business organisation. Planet Hollywood is even so 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 too. In 1997, he dabbled in the food industry in an attempt to brand more coin, of course. 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 look and style of a golf clubhouse that was open up to the public. Ironically, information technology opened right across from Planet Hollywood, which was endmost at the time. The business began to neglect in 2007.
Curt Schilling – 38 Studios
A unique business organization venture for its fourth dimension, 38 Studios was the brainchild of Curt Schilling, who had a dissimilar vision than most sports celebrities. The former Cherry Sox pitcher wanted to endeavour something new, so 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 activeness role-playing game called Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming company alleged bankruptcy in 2012 after only releasing a unmarried game. Despite the business' failure, the game was pretty well received by the gaming community.
Pharrell Williams – Qream Liqueur
Pharrell Williams always had big 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 visitor in 2013 afterwards information technology appeared to carelessness the deal before the contract was over. The drink wasn't marketed finer, and the Qream dream died with minimal fanfare.
Flavor Flav – Flavor Flav's Chicken & Ribs
Who doesn't know Flavor Flav? In 2011, the popular rapper decided to combine his love of fast nutrient with business organization by opening a eating house in Clinton, Iowa. Although it sounds yummy, the business really didn't terminal that long. In fact, it'south 1 of the shortest examples of business failure on the listing — three months.
The restaurant airtight 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 decide that fast food really wasn't for him after all — at least when it came to running a business concern.
l Cent – Magic Stick Condom
Magic Stick was fifty Cent's try at a unique business venture — in condoms. Yes, you read that right. In 2008, the rapper created a line of condoms, but he plainly failed to empathise the reason backside condoms in the first place. His company'southward condoms were laced with chemicals designed to increment the wearer's sexual performance.
The rapper was asked nearly his failed business concern venture, and he said, "Information technology simply didn't work out because I wanted things in information technology that wouldn't work." P.Due south.: "Processed 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 fifty-fifty more awesome married man. In 2014, she decided to launch a lifestyle website. The timing was perfect, as celebrity lifestyle websites were at their tiptop, just Lively wasn't a big plenty lifestyle effigy to concenter much interest.
Glory product endorsements are often too expensive for the general public and tin as well feel false, which raises concerns when it comes to trust. The website was abandoned about a year later on, and her lifestyle venture was never mentioned again. That's 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. It belonged to Heidi Montag, a popular reality television graphic symbol who wanted to exist known for more 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 set and is still a prominent figure in the celebrity gossip world, so she bounced back financially from the failed venture.
Nicky Hilton – Nicky O Hotels
Paris Hilton wasn't the only Hilton making coin moves. Back in the day, her sister Nicky Hilton wanted to stay true to her family legacy and open a hotel chain of her own. Nicky O Hotels was a premier luxury hotel brand, fix 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 ambition was to combine the world of amusement with luxury and blueprint. However, the project failed to see the calorie-free of mean solar day afterward a lawsuit confronting Hilton highlighted an alleged alienation of contract.
Jennifer Lopez – Sweetface
Making the listing once again, J.Lo's high-end Sweetface clothing line was yet some other failure in the celebrity manner world. Attempting to combine urban streetwear with modernistic 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 loftier prices too equally the quality of the clothes. Negative feedback and poor sales forced Kohl'due south to completely stop the line'south production in 2009. Fun fact: Sweetface was J.Lo's nickname, given to her by her former 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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