Celebrities often have the opportunity to parlay their fame and success in one field into lucrative business ventures. However, not all of these ventures are successful, and some celebrities have had epic fails as entrepreneurs. Here are some examples:
Trump University – Donald Trump
Another failed business venture of Donald Trump’s was Trump University, a for-profit education company that offered real estate courses. The company was hit with multiple lawsuits alleging fraud and deceptive business practices, and it ultimately closed its doors in 2010.
Fyre Festival – Ja Rule
In 2017, rapper Ja Rule co-founded Fyre Festival, a luxury music festival promoted as a “cultural moment created from a blend of music, art, and food.”
However, the event was a complete disaster, with attendees stranded on a remote island with inadequate food, shelter, and security. The festival was eventually canceled, and Ja Rule and his co-founder were hit with lawsuits from attendees and investors.
Trump Steaks – Donald Trump
Before becoming president, Donald Trump was known for his real estate empire and various business ventures.
However, not all of these ventures were successful. In 2007, he launched Trump Steaks, a line of premium beef products sold exclusively through The Sharper Image stores. The venture was short-lived, and the steaks were discontinued due to poor sales.
House of Deréon – Beyoncé
In 2004, Beyoncé and her mother, Tina Knowles, launched House of Deréon, a fashion line inspired by the singer’s grandmother. However, the line was criticized for its high prices and lack of originality. Despite several rebranding efforts, House of Deréon ultimately failed to gain traction and was discontinued in 2012.
Jessica Simpson – Edible Beauty Products
Jessica Simpson is known for her successful fashion and beauty empire, which includes clothing, shoes, and fragrances.
However, her venture into edible beauty products was less than successful. In 2004, Simpson launched a line of edible beauty products, including lip glosses and fragrances meant to be licked off. Unfortunately, the products were poorly received and quickly discontinued.
NIKELI – Kim Kardashian
In 2012, Kim Kardashian launched NIKELI, a costume jewelry line sold through Sears. The line was criticized for its poor quality and overpriced products, failing to gain a following. The line was discontinued, and Kardashian shifted her focus to other business ventures.
The Boardroom – Ivanka Trump
Ivanka Trump launched The Boardroom in 2012, a line of women’s workwear aimed at professional women. However, the line failed to resonate with its target audience and was discontinued in 2015. Trump later admitted that the line was “a bit ahead of its time” and that she had learned valuable lessons from experience.
Edible Arrangements – T-Pain
In 2014, rapper T-Pain invested in a franchise of Edible Arrangements, a company that sells fruit arrangements as gifts. However, his franchise struggled with low sales, and he eventually left the business. T-Pain later admitted that he didn’t have much experience in the business world and learned some valuable lessons from experience.