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Investing in a business to ensure you lot have a stable income seems like a wise decision — until it isn't. Fifty-fifty celebrities who already have a ton of greenbacks can't be careless near choosing investments if they desire to stay rich. From restaurants to vesture lines, the opportunities are plentiful, but it takes careful planning to avoid embarrassing business disasters.
Depending on your historic period, yous probably remember these unforgettable celebrity business organisation flops. Think you lot can approximate who lost the most? Allow's take a expect!
Britney Spears – Nyla Eating place
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 dissimilar type of business. Nyla was located in the Dylan Hotel in Manhattan, New York Metropolis.
Her divergence from the business concern occurred in the same year later she butted heads with the management, who claimed she was responsible for the eating place'southward debt and other fiscal issues. Fun fact: The restaurant 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 concern moguls, simply non all their business ventures have been a success. Take the Kardashian Kard, for instance. In 2010, the Kardashians appear a controversial debut of a prepaid debit menu featuring the sisters' faces on the front. The business failed a calendar month afterward 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's chaser to take immediate action and terminate the business to protect their reputation.
Kanye West – Pastelle Article of clothing Line
Yeezy has had plenty of fashion debuts during his career, and not all of them have been successful — or inspiring. Before his other manner 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 brusk, a lot of drama happened, and according to reports, the investors didn't want to invest a sufficient corporeality of money to get the business off the ground. Kanye himself said yous need to invest at to the lowest degree $100 million when yous're making a new make, and it clearly didn't happen.
Donald Trump – Trump Shuttle
Number 45 is a known businessman, but not many people know nearly his business failures. Ane of those epic failures was a very ambitious airline. Dorsum in 1988, Donald Trump introduced his ain branded airline shuttle. The luxury shuttle service was supposed to run between Washington D.C., Boston and New York.
Blood-red carpets, gold and other luxury elements toll Trump $1 million per shipping. Three months after the launch, ane of his planes almost crashed. The near miss, rising fuel prices and a bank loan of $380 meg fabricated Trump decide it was time to leave his aviation dreams behind and try something else.
Paris Hilton – Dollhouse Drove
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 made quite a name for herself, just not every idea resulted in greenbacks 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 about information technology. The drove basically had Paris' face and name on almost every article of clothing. Unfortunately, the glory didn't last long, and Paris moved on to other business organization ventures that garnered more entreatment.
Oprah Winfrey – OWN
In 2011, Oprah was the talk of the town when she decided to operate a cable aqueduct accessible to lxxx million homes. The Oprah Winfrey Network (OWN) was an ambitious thought, with more than $500 1000000 invested in the project. Unfortunately, her squad failed from the beginning to sympathise what people responded to and how they watched cable channels. Low ratings and viewership hit the network hard.
OWN was arguably Oprah'south biggest failure, merely different other celebrities on our list, Oprah still hasn't completely given upward on her business venture. Who knows? Maybe OWN is finally on track to pull itself out of some nighttime days.
Jennifer Lopez – Madre'due south Restaurant
Celebrities have a thing for restaurants, but not all restaurants take a thing for celebs. Madre'southward was inspired by J.Lo's mom and grandmother'south cooking, and information technology started its bumpy journeying in 2002 in Pasadena, California. In her own words, she described it as "a family eatery with a petty fleck of sexiness to it."
Information technology lasted about six years earlier mysteriously closing its doors in 2008. The Latin American restaurant featured some of the culture'south virtually typical dishes, but J.Lo'south name wasn't enough to entice the public. No official reason was ever given for the decision to close it down, but the assumption is poor functioning.
Naomi Campbell & Friends – The Fashion Buffet
In her prime (mid-1990s), Naomi Campbell decided it was time to bask some passive income in the form of business concern ventures. In 1995, she became the face of a glamour-themed cafe chain called Mode Café along with Christy Turlington, Elle Macpherson and Claudia Schiffer.
Information technology had a solid start and good buzz, but the novelty eventually faded, and it failed to make the necessary profit to stay open. To acme it all off, the concern partners got involved in a money laundering scandal, making it clear that it was ameliorate for this cafe chain to shut its doors for good.
Steven Spielberg – Swoop Restaurant
Steven Spielberg's mind seems to overflow with amazing ideas, but Dive Eatery wasn't one of them. In 1994, he decided to open a nautical-themed restaurant in Beverly Hills. The identify was filled with impressive dive-themed decor and fifty-fifty featured a faux diving session experience.
That withal wasn't enough to charm the demanding Beverly Hills crowd, and the novelty of it started to clothing off, resulting in dismal merchandise sales, which were a huge selling betoken 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 Restaurant
When Hulkmania was at its acme, 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 Hulk Hogan, right? Although it definitely seemed like a solid business investment idea back in 1995, it didn't piece of work out in the end.
The menu wasn't that dissimilar from your standard pasta eatery carte du jour, apart from the fact that it was branded by everyone'southward favorite wrestling guy. The restaurant shut its doors near a year afterward, assuasive the Pastamania name to be used by a fast food chain from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the only Trump business venture that failed to plough a profit back in the mean solar day. With his focus on real estate, it's not surprising he tried to dip into the mortgage business. The success of this venture was very curt 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 crash. Everything was questioned, including the CEO'due south background. In 2007, Trump Mortgage officially closed downward after failing to thrive in the struggling marketplace.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a pop member of Fall Out Male child, 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 glory-endemic nightclub died downward after it was reported that the New York location got caught serving alcohol to minors and had to shut down in 2012. A few years afterwards, they also closed the Chicago location — and that was the end of the Fall Out Male child nightclub.
Jim McMahon – McMahon's Steakhouse
Ex-Chicago Acquit Jim McMahon fabricated a name for himself in the NFL in the '90s and also thought he could brand a name for himself by investing in a restaurant — a steakhouse in Chicago. Unfortunately, McMahon got into business with some pretty questionable characters whose reputation wasn't pristine among those in the bank loan world.
The restaurant was showtime called Chicago Stadium, but the owners of the Chicago Stadium quickly sued McMahon and his other business partners. Co-ordinate to reports, the restaurant participated in some shady business organization practices, and McMahon had to distance himself from information technology.
Eva Longoria – Beso Eating place and Nightclub
Eva Longoria is no stranger to the culinary scene — think her role as a guest judge on season 4 of MasterChef? In 2008, she backed a Los Angeles eatery chosen Beso. The place was a hot spot for quite some time before closing its doors in 2011 amidst a ton of drama.
The business filed for defalcation in society to restructure $5.7 million worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso afterwards relaunched under new buying (without Longoria) and with a new name, Viva Hollywood, simply that eating house eventually closed every bit well.
Jay-Z – J-Hotels
The world's start billionaire rapper is no stranger to successful business ventures, but the thought that "the sky 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'southward Chelsea area, but lack of funding and a recession halted the structure.
The recession going on at the time basically fabricated it harder to get the funding needed, and the whole concern projection was put on hold in 2008. It looks like information technology never resumed, probably because Jay-Z became interested in plenty of other appealing ventures.
Natalie Portman – Té Casan
Permit's take a break from restaurants and hotels for a while and go to 2008, which actually seemed to be a prime number time for glory 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 way to get. Unfortunately, the high price of the shoes didn't exactly entreatment to consumers — not fifty-fifty diehard vegans — and the shoe line's 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 pinnacle 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 carte consisted of high-quality dishes that were also considered salubrious. Although it seemed like a decent idea and the buffet had big expansion dreams, the success didn't last. Three years later, Buffet Dupri had to close its doors later struggling to make plenty profit.
Beyonce – House of Deréon
That's right — Queen B has experienced many failures along with her success. Sounding similar a house out of Game of Thrones, House of Deréon was a fashion line Beyonce collaborated with her mother, Tina Knowles, to create in 2006. The proper noun paid tribute to Beyonce's maternal grandmother.
The way mixed the influences of hip hop with loftier fashion, and although information technology seemed like it was taking off at starting time, it was ultimately criticized for its loftier prices. In 2008, the line also came under fire for its advertisement with piddling girls wearing full makeup and loftier heels. The star discontinued the line in 2012 without formal notice.
Lily Allen – Lucy in Disguise
Lily Allen also tried to dabble in the fashion earth. The eccentric vocalist is known for her fashion sense, so it seemed only fair to see if the rest of the earth (or at least London) would catch on to her await. She opened Lucy in Disguise, a vintage vesture store, with her sister in 2010.
The store's location was one of the reasons for its failure — London'southward Covent Garden. High real estate prices forced the company to move to a somewhat cheaper property in Soho, but information technology wasn't enough to save the business, and information technology ceased operations in 2012.
Neil Young – PonoPlayer
PonoPlayer was a fairly modern business venture launched by Neil Young in 2014. It was actually successfully crowdfunded via the pop platform Kickstarter, where information technology raised $vi.2 million. The device was advertised as a modern-mean solar day iPod with howdy-resolution music service, merely information technology was criticized for its poor pattern and high price tag ($400).
Three years later, Neil Young ceased operations and airtight the PonoMusic store, which sold downloadable music. The reason? Record companies were charging too much for hi-res music formats, and the business 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 sensation and boasted more than 100 locations. Stallone, Schwarzenegger and Willis were its investors and the faces promoting the brand. The initial hype of eating amidst popular movie props attracted endorsements from some of the biggest Hollywood names, only information technology 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 brand a profit. This prompted investors similar Arnold Schwarzenegger to movement on and cutting ties with the business concern. Planet Hollywood is still around merely 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 manufacture in an effort to brand more than money, of course. The theme of The Clubhouse was golf, and dissimilar many other celebrity restaurants, it managed to concluding a surprisingly long time.
Based in Costa Mesa, California, it featured the sectional expect and style of a golf clubhouse that was open to the public. Ironically, it 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 venture for its fourth dimension, 38 Studios was the brainchild of Curt Schilling, who had a different vision than well-nigh sports celebrities. The former Red Sox pitcher wanted to endeavour something new, so he launched a video game business organisation in 2006. Unfortunately, game evolution takes years, and that was hard to sell to investors.
The company released an activity function-playing game called Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming company declared bankruptcy in 2012 afterward merely releasing a single game. Despite the business' failure, the game was pretty well received by the gaming customs.
Pharrell Williams – Qream Liqueur
Pharrell Williams always had big visions and a good ear for music, just 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 later on information technology appeared to abandon the deal before the contract was over. The drinkable wasn't marketed effectively, 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 beloved of fast nutrient with business by opening a restaurant in Clinton, Iowa. Although information technology sounds yummy, the business really didn't last that long. In fact, it's ane of the shortest examples of business organisation failure on the list — 3 months.
The eating place 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 decide that fast food really wasn't for him after all — at least when it came to running a business.
50 Cent – Magic Stick Prophylactic
Magic Stick was l Cent's attempt at a unique business organisation venture — in condoms. Aye, y'all read that correct. In 2008, the rapper created a line of condoms, but he plain failed to understand the reason backside condoms in the first place. His visitor'due south condoms were laced with chemicals designed to increment the wearer's sexual performance.
The rapper was asked most his failed business organization venture, and he said, "It just didn't piece of work out because I wanted things in information technology that wouldn't work." P.Southward.: "Candy Store" lyrics were written manner before the Magic Stick line was launched.
Blake Lively – Preserve
Blake Lively is known for the crawly sense of humor she shares with her even more crawly hubby. In 2014, she decided to launch a lifestyle website. The timing was perfect, as celebrity lifestyle websites were at their superlative, but Lively wasn't a big plenty lifestyle figure to attract much interest.
Celebrity product endorsements are often likewise expensive for the general public and can also feel fake, which raises concerns when it comes to trust. The website was abandoned most a year later, and her lifestyle venture was never mentioned again. That'south okay, she's nevertheless owning the Instagram game.
Heidi Montag – Heidiwood
Welcome to Heidiwood, a fashion line that failed to connect with its customers and brand sufficient profit. It belonged to Heidi Montag, a popular reality television character who wanted to be known for more than just her dramatic Boob tube roles. She launched Heidiwood in 2007 in collaboration with Anchor Blue Retail.
Although the line looked promising, customers didn't actually care for the overpriced items, and her contract wasn't renewed the post-obit year. She returned to reality TV and is still a prominent effigy in the celebrity gossip world, and so she bounced back 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 truthful to her family unit legacy and open a hotel concatenation of her own. 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 design a luxurious penthouse suite for the Miami location. Her ambition was to combine the world of amusement with luxury and design. Nevertheless, the projection failed to see the light of twenty-four hours after a lawsuit against Hilton highlighted an alleged alienation of contract.
Jennifer Lopez – Sweetface
Making the list once again, J.Lo'south high-cease Sweetface wear line was however some other failure in the celebrity manner globe. Attempting to combine urban streetwear with modern mode, the line failed to deliver anything unique that couldn't exist found for a cheaper price in a shop downwards the street — according to shoppers' feedback.
Customers complained about high prices also as the quality of the clothes. Negative feedback and poor sales forced Kohl's to completely stop the line'southward product in 2009. Fun fact: Sweetface was J.Lo'due south nickname, given to her past her old managing director.
Source: https://www.consumersearch.com/technology/celebrity-business-disasters-donald-trump?utm_content=params%3Ao%3D740007%26ad%3DdirN%26qo%3DserpIndex
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