The term celebrity brings many things to mind: beauty, fame, scandal, money. One thing that is not often synonymous with a star is an astute business sense. However, some have used their fame and fortune as a platform to launch their various business ventures. According to Luke Anderson, some shift from the spotlight to concentrate on the business while others find a way to do both successfully.
Luke Anderson, a successful entrepreneur with business interests worldwide, had already been involved in over 40 businesses by the time he turned 30. Some succeeded, others failed, but they all taught him various lessons in entrepreneurship. As an entrepreneur, he often looks around to see what other entrepreneurs are doing. He is often interested in celebrities who have managed to balance their careers with business and believes some, such as those listed below, have managed to be successful in both.
Barrymore, who has been in the movie industry since childhood, started her own production company – Flower Films – in 1995. The company has produced many of her projects over the years. She later expanded her Flower brand to include beauty, fashion, and home goods. The Flower Beauty line includes fragrance, makeup, and beauty accessories that are stocked at Walmart and Ulta at affordable prices. Her eyewear line, Flower Eyewear, sells reading glasses, prescription lenses, and sunglasses for under USD 100. Flower Home, her home goods line in collaboration with Walmart, features furnishings, accessories, and dinnerware. Her businesses are estimated to be worth around USD 125 million.
In 2012, Alba launched The Honest Company to provide consumers with organic, safe, and nontoxic baby and household products. The company produces environmentally friendly products using natural ingredients only. The Honest Company was valued at USD 756 million in October 2017, and in a 2018 funding round, managed to raise USD 200 million.
Robert De Niro
The actor, who has been gracing our screens for over five decades, is an investor in the food industry. He is the co-founder of Nobu, a Japanese-Peruvian fusion restaurant chain, owner of an upscale Manhattan restaurant known as Tribeca Grill, and the managing director of Ago, a posh Italian eatery. He is also the co-founder of Nobu Hospitality, a lifestyle brand that owns hotels across Spain and London. Nobu Residences, his real estate venture, is developing a line of luxury condos in Toronto.
While David Beckham became famous as a soccer player for English club Manchester United, his business ventures were what catapulted him into wealth. He is globally known as a fashion icon and has appeared in advertisements of various brands such as Adidas and Armani. He has partnered with clothing brand H&M to design a line of underwear and loungewear and has his own line of fragrances. In 2018, Beckham launched a men’s beauty line known as House 99 in collaboration with L’Oréal. True to his soccer roots, Beckham is a shareholder in the English League Two club Salford City and owns MLS club Inter Miami CF.
Simpson’s success as an actress and singer is almost insignificant compared to her success as a business owner. In 2016, she launched her business – The Jessica Simpson Collection. She started with handbags, shoes, and boots before later expanding to include fragrances, luggage, watches, and clothes. The company, which has grown into a billion-dollar enterprise, is considered one of the most successful celebrity brands.
The success of these celebrities in entrepreneurship shows that they are no longer just sticking to the trade that made them famous but are investing in other ventures to diversify their income streams.