Celebrities have a lot of money, connections and limelight. Together this can help get a business launched better than most. Sadly, many celebrities just don’t seem to have what it takes to make their businesses work. Many famous stars launch their businesses with much fanfare, but they soon fizzle out and have to close up shop. Here’s a list of the top 9 celebrity business failures.
1. Mandy Moore
Having proudly launched her fashion line Mblem in 2005, Moore seemed to be on her way to high profits with a number of US retailers. Fast forward to 2009, however, and we find a distraught Moore announcing that Mblem was shutting down due to “creative differences” regarding the business arrangement. Jessica Simpson may have pulled off the singer-turned-fashion-mogul trick, but sadly Mandy is one of the celebrity business failures.
2. Nicky Hilton
Leveraging her family’s hospitality pedigree, Hilton decided to set up a hotel chain in 2006. She had plans to develop a 94 room hotel on Miami’s Ocean Drive, and another one in swanky Chicago. The Miami hotel was supposed to open in time for the 2007 Super Bowl, but it never did. Indeed, the same year the developer sued the heiress to the Hilton hotel empire for breach of contract.
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