Celebrities seem to gain fame and fortune through appearances on silver screen, and others simply by belonging to a famous family, or through being internet socialites. A handfull of them, however, progress further to set up successful business ventures as entrpreneurs in their own right, displaying an element of business acumen, and other business related skills. Here we look at 5 celebrities who have successfully moved into the business world as entrepreneurs.
Jessica Alba – The Honest Company
Alba was best known as the actress in roles such as a hip-hop choreographer with a heart of gold in 2003’s Honey and a strong-willed stripper in Robert Rodriguez’s Sin City franchise.
Alba’s childhood was marked by two things: illnesses—many of which she can now identify as asthma and allergy-related—that landed her in the hospital often, and a burning desire to leave a mark on the world, which at the age of 12 meant becoming a devout born-again Christian. “I was seeking a purpose,” Alba says of her years as a member of a conservative Christian youth group. “I wanted to exist for a reason.”
Alba was inspired by the 2008 birth of her first child Honor and her own history of childhood illnesses to start off as an entrepreneur to establish a business that provided an alternative to the prevalent baby products with ingredients such as petrochemicals and synthetic fragrances.
Alba has overseen the growth of her nontoxic household products startup The Honest Company from $10m in revenues in 2012 to $150 million in 2014. Alba described the impetus behind her decision to launch Honest: a rash on her arms after using a mainstream brand baby detergent during her first pregnancy seven years ago. She started considering the contents of the products under her kitchen sink for the first time.
In the first five weeks, the company sent out its signature bundles of diapers and baby wipes without charging any credit cards. From those humble beginnings, the company is currently valued at $1.7 billion.
Kate hudson – Fabletics (https://www.fabletics.com/)
Fabletics is an American online subscription retailer that sells women’s sportswear and accessories, commonly referred to as “athleisure.” The company is best known for its e-commerce business approach and also has 18 brick-and-mortar stores.It offers its members personalized outfits chosen for them based on their lifestyle and fashion preferences. It is a subsidiary of JustFab, which re-branded to TechStyle Fashion Group in August 2016.
Succeeding in Fashion when Amazon currently controls 20% of the fashion e-commerce market is no mean feat but that is what Kate Hudson’s Fabletics is doing, growing a $250 million business in three years, cleary showing her success as an entrepreneur.
Fabletics uses a subscription mechanic to sell clothing to its customers. The premise is simple, customers like brands that are aspirational and that push the individual a little, mix this with convenience and membership and you have a powerful combination.
Athleisure apparel is casual clothing meant to be worn in the gym and around town and is a growing trend. According to research firm NDP Group, U.S. consumers spent $44 billion on activewear in 2016; Morgan Stanley predicts the sector will represent $83 billion in U.S. sales by 2020.
The company looks to expand its market and reach a billion dollars in revenue in the next two years.
Shah Rukh Khan – Red Chilli Entertainment (http://www.redchillies.com/)
Red Chillies Entertainment (RCE) founded in 2002, is an Indian motion picture production, distribution and a premier visual effects company based in the city of Mumbai.The company was founded in 2002 by Bollywood actor Shah Rukh Khan and his wife Gauri Khan.Apart from film production, RCE has a visual effects studio known as Red Chillies VFX. The company also has a 55% stake in the Indian Premier League cricket team Kolkata Knight Riders.
Shah Rukh Khan is trying to build Red Chillies Entertainment (RCE) into a fully-fledged studio spanning film development, production, global marketing and all-rights distribution as well as visual effects and post production through RCE VFX. Among the key pillars in that strategy are working with a global network of independent distributors, expanding production to encompass films in which he won’t appear, an exclusive worldwide streaming deal with Netflix and long-standing relationships with music and TV partners. The underlying aim is to more fully monetize the company’s creative asset and it’s paying off.
When asked why he named the company “Red Chillies” he said that if the filmmaking fails then he would open a restaurant by the same name.
Gul Panag, Mobiefit – http://www.mobiefit.com/
While the general public know Gul Panag as an actress, a social activist, a television commentator and a former Ms. India, she’s also been an icon for fitness for over a decade. She is a serial half-marathon runner and has been featured in multiple media outlets about her fitness routine and her running philosophy. Besides running, her passions include cycling, trekking and tennis.
Her passion for fitness also turned her into an entrepreneur. MobieFit is a start-up focused on fitness centred mobile apps. It aims to help users achieve their fitness goals at their time and convenience through their smartphones, without the need for additional hardware. MobieFit is also cofounded by Gourav Jaswal.
MobieFit has launched its maiden app called FirstRun on Android Play Store. It lists a number of features including walking plus running programme, voice-guided running, GPS integration to track running distance in real time and a personal workout diary with stats and graphs to track the running progress. The app will shortly have long-distance running programmes, options to map runs and an integrated music player.
Medi Assist India TPA Pvt Ltd, a third-party administrator in the healthcare market, has invested $1 million (Rs 6.63 crore) in MobieFit, a mobile fitness venture.The partnership will strengthen Medi Assist’s presence in the consumer health and fitness market, the company said in a statement.
Kunal Kapoor – Ketto – www.ketto.org/
Actor Kunal Kapoor launched Ketto along with Varun Seth, a first time entrepreneur.Ketto is an online ‘giving’ platform where you can start giving with as less as Rs 100. Kunal with the help of his friends and his agency Kwan foundation looks to bring individuals and corporates from all fields together to support their favorite causes and add ‘fun’ in fundraising.
At Ketto, they believe that a change in mindset is the first step towards solving a problem. Over the past 4.5 years, ketto have raised over 40 crores for different causes. People are catching up with the idea of crowdfunding. Ketto is a reward based platform where if you support a tech company, you get the product as reward and if it’s a social cause then usually your reward is just the gratification of helping someone out and so on. There is no equity or stake.
There you have the list. Do you think that celebrity businesses do well as a consequence of their fame and popularity, or irrespective of them? Let us know what you think!