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Investing in a business concern to ensure you have a stable income seems like a wise decision — until it isn't. Even celebrities who already have a ton of cash can't be careless about choosing investments if they want to stay rich. From restaurants to clothing lines, the opportunities are plentiful, only information technology takes careful planning to avoid embarrassing business disasters.
Depending on your age, you probably remember these unforgettable celebrity business organization flops. Recall y'all can guess who lost the most? Let's take a look!
Britney Spears – Nyla Restaurant
When Britney Spears opened Nyla Eating place in 2002, the buzz 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 business organization occurred in the same year after she butted heads with the management, who claimed she was responsible for the restaurant'due south debt and other fiscal 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, simply not all their business ventures have been a success. Accept the Kardashian Kard, for instance. In 2010, the Kardashians announced a controversial debut of a prepaid debit carte featuring the sisters' faces on the forepart. The business failed a calendar month after its launch when the legality of certain fees raised concerns.
An attorney claimed the loftier fees were unfair and unethical, peculiarly for the Kardashians' largely young adult fanbase. Many reputable websites took note of the "Kardashian Kard ripoff," which prompted the Kardashian family'due south attorney to take firsthand activeness and terminate the business to protect their reputation.
Kanye West – Pastelle Clothing Line
Yeezy has had enough of style debuts during his career, and non all of them take been successful — or inspiring. Earlier 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 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 clearly didn't happen.
Donald Trump – Trump Shuttle
Number 45 is a known man of affairs, just non many people know virtually his business failures. Ane of those ballsy failures was a very ambitious airline. Back 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.
Red carpets, gilt and other luxury elements cost Trump $1 meg per shipping. Three months afterward the launch, 1 of his planes virtually crashed. The near miss, rising fuel prices and a banking company loan of $380 million made Trump decide information technology was time to leave his aviation dreams behind and try something else.
Paris Hilton – Dollhouse Collection
Information technology has been proven enough of times that Paris Hilton knows what she's doing when it comes to business organization. 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 pop clothing label, and absolutely everyone was buzzing virtually it. The collection basically had Paris' confront and proper name on well-nigh every article of wearable. Unfortunately, the glory didn't last long, and Paris moved on to other concern 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 eighty million homes. The Oprah Winfrey Network (OWN) was an aggressive idea, with more than than $500 meg invested in the project. Unfortunately, her team failed from the starting time to empathise what people responded to and how they watched cablevision channels. Low ratings and viewership hitting the network difficult.
Ain was arguably Oprah'due south biggest failure, only unlike other celebrities on our list, Oprah still hasn't completely given upward on her business concern venture. Who knows? Mayhap OWN is finally on runway to pull itself out of some nighttime days.
Jennifer Lopez – Madre's Restaurant
Celebrities have a matter for restaurants, but not all restaurants accept a affair 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 equally "a family unit restaurant with a little bit of sexiness to it."
It lasted almost vi years before mysteriously closing its doors in 2008. The Latin American restaurant featured some of the culture's most typical dishes, but J.Lo'southward proper name wasn't plenty to entice the public. No official reason was ever given for the decision to close it down, merely the assumption is poor performance.
Naomi Campbell & Friends – The Manner Cafe
In her prime (mid-1990s), Naomi Campbell decided information technology was time to enjoy some passive income in the course of business ventures. In 1995, she became the face of a glamour-themed cafe chain called Mode Café forth with Christy Turlington, Elle Macpherson and Claudia Schiffer.
It had a solid start and good buzz, but the novelty eventually faded, and it failed to make the necessary profit to stay open. To top information technology all off, the business concern partners got involved in a coin laundering scandal, making information technology clear that it was meliorate for this cafe concatenation to close its doors for good.
Steven Spielberg – Swoop Restaurant
Steven Spielberg's listen seems to overflow with astonishing ideas, but Dive Restaurant wasn't one of them. In 1994, he decided to open a nautical-themed eating place in Beverly Hills. The place was filled with impressive swoop-themed decor and even featured a simulated diving session experience.
That still wasn't plenty to charm the demanding Beverly Hills crowd, and the novelty of it started to wear off, resulting in dismal merchandise sales, which were a huge selling betoken for the business. In 1999, the eating house officially shut its doors and became a learning lesson for what not to practice in the niche of themed restaurants.
Blob Hogan – Pastamania Eating place
When Hulkmania was at its top, Hulk Hogan decided to introduce Minneapolis' Mall of America to the ultimate Hulk eating experience. Who wouldn't desire to be strong and tough like Hulk Hogan, right? Although information technology definitely seemed similar a solid concern investment idea dorsum in 1995, it didn't work out in the terminate.
The menu wasn't that unlike from your standard pasta restaurant menu, autonomously from the fact that it was branded past everyone'southward favorite wrestling guy. The restaurant close its doors almost a year later, allowing the Pastamania proper name to be used by a fast nutrient chain from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the only Trump business venture that failed to turn a profit dorsum in the day. With his focus on real estate, information technology'due south non 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, every bit the 2006 recession struck, and the mortgage lending industry began to crumble with the marketplace crash. Everything was questioned, including the CEO'south background. In 2007, Trump Mortgage officially closed down afterward failing to thrive in the struggling marketplace.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a popular fellow 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, 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 caught serving booze to minors and had to close down in 2012. A few years later, they likewise airtight the Chicago location — and that was the stop of the Fall Out Boy nightclub.
Jim McMahon – McMahon'southward Steakhouse
Ex-Chicago Bear Jim McMahon made a proper noun for himself in the NFL in the '90s and also thought he could make a name for himself by investing in a restaurant — a steakhouse in Chicago. Unfortunately, McMahon got into business organisation with some pretty questionable characters whose reputation wasn't pristine among those in the bank loan world.
The restaurant was offset chosen Chicago Stadium, merely the owners of the Chicago Stadium chop-chop sued McMahon and his other business partners. According to reports, the restaurant participated in some shady business practices, and McMahon had to altitude himself from it.
Eva Longoria – Beso Restaurant and Nightclub
Eva Longoria is no stranger to the culinary scene — call back her role as a invitee judge on season 4 of MasterChef? In 2008, she backed a Los Angeles restaurant called 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 bankruptcy in order to restructure $v.7 1000000 worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso subsequently relaunched nether new buying (without Longoria) and with a new proper noun, Viva Hollywood, simply that restaurant eventually closed as well.
Jay-Z – J-Hotels
The world'south kickoff billionaire rapper is no stranger to successful concern ventures, but the thought that "the sky is the limit" definitely doesn't apply hither. Jay-Z definitely reached a limit with his investment in J-Hotels. The luxury hotel was supposed to open in Manhattan's Chelsea expanse, just lack of funding and a recession halted the structure.
The recession going on at the time basically fabricated it harder to go the funding needed, and the whole business project was put on agree in 2008. It looks like information technology never resumed, probably considering Jay-Z became interested in enough of other appealing ventures.
Natalie Portman – Té Casan
Let's accept a break from restaurants and hotels for a while and go to 2008, which really seemed to be a prime fourth dimension for celebrity business 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 need to invest in something she believes in, and she felt a shoe line was definitely the way to become. Unfortunately, the high cost 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 top of his game. In 2005, he decided to try other business ventures and invested in a large café in Atlanta that seated 105 guests.
The menu consisted of high-quality dishes that were also considered good for you. Although it seemed similar a decent idea and the cafe had big expansion dreams, the success didn't last. Three years later on, Cafe Dupri had to close its doors after struggling to brand enough turn a profit.
Beyonce – House of Deréon
That's correct — Queen B has experienced many failures along with her success. Sounding like a business firm out of Game of Thrones, 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 get-go, it was ultimately criticized for its loftier prices. In 2008, the line also came under fire for its ad with little girls wearing full makeup and loftier heels. The star discontinued the line in 2012 without formal detect.
Lily Allen – Lucy in Disguise
Lily Allen besides tried to dabble in the fashion globe. The eccentric singer is known for her fashion sense, and so it seemed only fair to run into if the rest of the world (or at least London) would catch on to her look. She opened Lucy in Disguise, a vintage vesture store, with her sis in 2010.
The shop'southward location was one of the reasons for its failure — London'south Covent Garden. High existent estate prices forced the company to move to a somewhat cheaper property in Soho, but it wasn't enough to save the business, and it ceased operations in 2012.
Neil Young – PonoPlayer
PonoPlayer was a fairly modern business organization venture launched past 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 modern-day iPod with hi-resolution music service, just it was criticized for its poor pattern and high price tag ($400).
Three years later, Neil Young ceased operations and closed the PonoMusic store, which sold downloadable music. The reason? Record companies were charging as well much for hi-res music formats, and the business couldn't brand a turn a profit, despite the steep cost 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 amid popular picture show props attracted endorsements from some of the biggest Hollywood names, merely it wasn't all sunshine and rainbows.
The business organization filed for defalcation twice and reduced its number of restaurants to less than a dozen to ensure it could financially sustain itself and make a profit. This prompted investors like Arnold Schwarzenegger to move on and cutting ties with the business. Planet Hollywood is still around but 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 thought likewise. In 1997, he dabbled in the nutrient industry in an attempt to make more money, of course. The theme of The Clubhouse was golf, and unlike many other celebrity restaurants, information technology managed to terminal a surprisingly long time.
Based in Costa Mesa, California, information technology featured the exclusive look and fashion of a golf game clubhouse that was open up to the public. Ironically, information technology opened right beyond from Planet Hollywood, which was closing at the time. The business began to fail in 2007.
Curt Schilling – 38 Studios
A unique concern venture for its time, 38 Studios was the brainchild of Brusque Schilling, who had a different vision than most sports celebrities. The former Cherry-red Sox pitcher wanted to try something new, then he launched a video game concern in 2006. Unfortunately, game development takes years, and that was hard to sell to investors.
The company released an action office-playing game called Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming company declared bankruptcy in 2012 subsequently only releasing a single game. Despite the business concern' 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, just in 2011, the pop 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 bereft marketing efforts to launch the liqueur, and he sued the company in 2013 after it appeared to carelessness the deal before the contract was over. The beverage wasn't marketed effectively, and the Qream dream died with minimal fanfare.
Flavour Flav – Flavour Flav's Chicken & Ribs
Who doesn't know Flavour Flav? In 2011, the popular rapper decided to combine his love of fast food with business by opening a restaurant in Clinton, Iowa. Although it sounds yummy, the business concern really didn't last that long. In fact, information technology'due south 1 of the shortest examples of business organisation 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 direction, leading Flav to decide that fast nutrient actually wasn't for him afterwards all — at least when information technology came to running a business.
50 Cent – Magic Stick Condom
Magic Stick was fifty Cent's attempt at a unique business organisation venture — in condoms. Yep, y'all read that right. In 2008, the rapper created a line of condoms, just he apparently failed to understand the reason behind condoms in the commencement place. His company'southward condoms were laced with chemicals designed to increase the wearer'due south sexual operation.
The rapper was asked about his failed business venture, and he said, "It just didn't work out because I wanted things in it that wouldn't work." P.Southward.: "Candy Store" lyrics were written way before 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 crawly husband. In 2014, she decided to launch a lifestyle website. The timing was perfect, as celebrity lifestyle websites were at their elevation, just Lively wasn't a large plenty lifestyle figure to attract much involvement.
Glory production endorsements are often too expensive for the general public and can also experience fake, which raises concerns when it comes to trust. The website was abandoned well-nigh a year later, and her lifestyle venture was never mentioned once more. That's okay, she'due south still owning the Instagram game.
Heidi Montag – Heidiwood
Welcome to Heidiwood, a fashion line that failed to connect with its customers and brand sufficient turn a profit. Information technology belonged to Heidi Montag, a pop reality television character 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 and is nonetheless 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 simply 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 brand, ready to launch in Miami and afterwards 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 entertainment with luxury and design. However, the project 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 again, J.Lo's loftier-end Sweetface article of clothing line was yet another failure in the celebrity fashion world. Attempting to combine urban streetwear with modern fashion, the line failed to evangelize annihilation unique that couldn't exist constitute for a cheaper price in a store down the street — according to shoppers' feedback.
Customers complained well-nigh high prices as well equally the quality of the clothes. Negative feedback and poor sales forced Kohl'south to completely stop the line'southward production in 2009. Fun fact: Sweetface was J.Lo's 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