In my humble opinion, Ian Somerhalder and Paul Wesley are not just exceptional actors, but also brilliant entrepreneurs. Their bond, which started as co-stars, has evolved into a successful business partnership with Brother’s Bond Bourbon.
Despite the stock market’s unpredictability, investing in star power remains an option that thrives. In 2024, celebrity-endorsed brands continue to flourish as prominent figures fuel innovative businesses across various sectors and generate substantial profits from retail outlets amid a downturn in the entertainment industry. For instance, Dwayne Johnson’s Teremana tequila sold over a million cases in the U.S. last year, and Selena Gomez’s Rare Beauty brand is valued at more than $2 billion.
As an increasing number of A-list celebrities delve into entrepreneurship, the market for their brands has become more competitive than ever before. “The financial landscape for consumer startups has grown increasingly selective,” notes Mahmoud Youssef, head of corporate development and ventures at Range Media Partners. “Not only is the funding environment tougher, but online attention spans are also shrinking rapidly.” In essence, this means that the strategies used to establish a successful business, particularly those centered around talent, must adapt accordingly.
The playbook revolves around three essential elements: a top-notch product, a skilled CEO at the helm, and above all, a genuine bond between the star and the product. As Youssef puts it, “Combining that authenticity and enthusiasm with a smart strategy and business approach is like a perfect match.” Ben Enowitz, EVP of investments and talent ventures at Endeavor, explains that this strategy for star founders now often involves assisting distribution agreements as well as marketing initiatives. “Nowadays, the stars aren’t just using their social platforms to publicize and boost brands,” Enowitz says, “they’re actively engaging in the process, visiting places like Minnesota to meet with Target or Arkansas to meet with Walmart.” Enowitz continues, “It’s no longer enough in this market or ecosystem to simply declare, ‘Here’s my brand on social media, swipe up or click to buy.'”
As a gamer, I can relate to the struggle of building a strong brand. Just like in my gaming world where success isn’t guaranteed even with top-notch skills, creating a successful brand is no walk in the park. There are only a few celebrities who possess that special ‘buying permission,’ meaning they have the unique ability to influence their fans across various fields. Take Kim Kardashian for instance; her shapewear company, Skims, skyrocketed to a $4 billion valuation by 2023. However, not every star-backed venture experiences such success. Case in point: Kristen Bell and Dax Shepard’s Hello Bello baby brand, which reportedly raked in $180 million in revenue for 2022, unfortunately faced bankruptcy last fall and was eventually sold to a private equity firm for $65 million. Building a brand is challenging, but with persistence and the right strategy, anything is possible.
While a celebrity’s influence can provide invaluable benefits, it significantly boosts the chances of success for businesses that align with strong ethical principles. As Leonard Brody, co-founder and executive chairman of Caravan, puts it, “We’re more optimistic than ever about creating impactful, visionary companies whose values mirror those of their founders.” This is because consumers increasingly prefer to support companies that reflect their own beliefs. When a celebrity becomes a partner or co-founder, their established values amplify the brand’s reach in a way traditional advertising can’t match. This effect is even more pronounced when the celebrity’s business also supports a good cause, like Tom Hanks’ Hanx Coffee, which donates all its net profits to veterans. Toby Borg, head of talent business ventures at CAA, explains that this integration of purpose resonates strongly with consumers, encouraging them to try the product because they admire and support the celebrity’s cause.
In this compilation, THR had conversations with various investors and brand creators (such as Alexander Gilkes from Squared Circles, Will Ward of Fourward, Adam Lilling of Plus Capital, and numerous experts in beauty, spirits, and consumer goods) about which celebrity entrepreneurs are striking the right chords. Below, you’ll find insights into the goals and aspirations of these Hollywood stars, along with their experiences and lessons gained throughout their ventures.
Jennifer Aniston
LOLAVIE, PVOLVE, VITAL PROTEINS
Three years after launching her vegan hair-care brand LolaVie, Jennifer Aniston, who’s also involved in fitness company Pvolve and supplement brand Vital Proteins as a partner and chief creative officer respectively, is commemorating the rapid growth of her business. In April of last year, Ulta Beauty began selling LolaVie at over 1,300 of its outlets, a partnership that has been incredibly successful, prompting expansion to all Ulta stores inside Target nationwide. Last August, Credo also started offering LolaVie products, and in February, Uber Eats began delivering the items, a collaboration highlighted by an advertisement featuring Aniston struggling to recognize her famous “Rachel” hairstyle from her iconic role on Friends.
The star of “The Morning Show” and executive producer actively involves herself in product development and promotion. She recently announced on Instagram, a platform she has 45 million followers on, that April will see the sixth addition to our growing family – a sculpting paste. This brand, LolaVie, has garnered over 20 beauty awards, and according to industry insiders, is projected to surpass $50 million in revenue by the end of 2023.
“Running a business, as an artist, seems to come with its own set of challenges and advantages. Many skills I’ve honed in my artistic journey, such as teamwork and finding reliable allies, are crucial when it comes to business success.”>
Elizabeth Banks
ARCHER ROOSE
The sales of canned wine are projected to increase by at least 13% per year until 2028, as reported by Grand View Research. Actress and director Elizabeth Banks has been a significant investor in Archer Roose canned wine since 2020, using her charming humor to promote the high-end beverages ever since. A recent humorous advertisement (posted on her Instagram account with over 4 million followers) offered a live snake as a prize for selling 100,000 cases. “I’m hoping a live moose is next,” says Banks, mentioning that the brand is making strides in sports venues traditionally associated with beer. “We have key partnerships with Angel City, LAFC, and the Cincinnati Reds, among others,” she notes. “I enjoy that we’re improving people’s leisure experiences.”
“One of the greatest successes for my brand this year has been our strategic partnerships that bring innovation to venues where wine consumption is typically less common compared to beer and seltzers. For instance, our chilled cans are making Archer Roose a new favorite at places like BMO Stadium, which became the talk of the internet during LAFC’s season due to my Falcon Flight.”
“Barbara Corcoran, my entrepreneurial idol, has never slowed down; instead, she’s become even more intriguing and bold. It’s high time I send her a case of our new wine!”
Drew Barrymore
BEAUTIFUL, FLOWER HOME, FLOWER BEAUTY
Drew Barrymore, whose talk show received a renewal for a fifth season in January, is solidifying her status as a celebrity entrepreneur, particularly in the realm of affordable beauty and home items. Her collaborations with Walmart encompass Flower Home furnishings, Beautiful kitchen appliances, household and tabletop goods, and cookware under her brand. One of her most significant recent successes? “Towels. Our Beautiful by Drew line saw a substantial, unforeseen boom at Walmart, and I’ve always been a collector of vintage towels. That’s why it was particularly meaningful to me,” shares Barrymore, who is also the founder of cruelty-free Flower Beauty and the publisher of the quarterly magazine Drew.
“Barrymore expresses that she’s discovering new ideas she wish to bring to life, and she appreciates being given tasks,” says Barrymore, who established Flower Films in 1995 alongside co-founder Nancy Juvonen. “Inspiration can come from anywhere.” She follows this philosophy when collaborating with her product and talent teams, encouraging everyone’s involvement. “Bring everyone into the loop,” she suggests. “It’s both empowering and efficient to share everything, and there’s no real synergy without it.” In September, Barrymore will join Christina Ricci, JoJo Siwa, and other former child actors in Demi Lovato’s directorial debut, Child Star, set to premiere on Hulu.
“Initially, I capitalized on an innovative marketing strategy when I first joined Instagram, which felt like a QVC-style narrative that resonated with me. To this day, I remain convinced that digital channels are ideal for showcasing your work, as you create it specifically for your audience!”
Hailey Bieber
RHODE
In June of 2022, Hailey Bieber, who is both a model and a host on YouTube (specifically for shows like “Who’s in My Bathroom?” and “What’s in My Kitchen?”), introduced her clean-beauty brand called Rhode Skin. Throughout this year, the brand has expanded its product line to include a cleanser, blush, a lip tint, and an iPhone case designed to hold these beauty items, which quickly became popular online.
In June 2024, the influencer marketing platform CreatorIQ declared Rhode as the leading skincare brand in the U.S., earning media worth $32.9 million. Bieber, a social media whiz (remember the strawberry glaze sensation of 2023), assisted in selling out Rhode’s limited-edition Pocket Blush in shade Sprinkle online within just 25 minutes on Aug. 1.
Jon Bon Jovi and Jesse Bongiovi
HAMPTON WATER
Delving into the world of rosé wines, rock icon Jon Bon Jovi and his son Jesse Bongiovi sought out French winemaker Gérard Bertrand for a partnership. Together they crafted Hampton Water, a vibrant and invigorating wine primarily made from Grenache grapes in the Languedoc region. American consumers swiftly showered them with compliments. Last year, Hampton Water, established in 2018, was recognized as the fastest-growing rosé brand by Wine Enthusiast. “The wine industry thrives on collaboration, just like being in a band,” Bon Jovi remarks. Both ventures demand extensive time spent on tour. Bongiovi, a constant traveler and brand advocate, contributes to a 40% growth this year. “This job demands a lot of traveling. I’ve become quite skilled at sleeping during flights.”
In a nutshell, Bongiovi emphasizes that in both Hollywood and startups, everyone should be ready to contribute at all times and no task is beneath anyone, regardless of their role within the team.
“Our unexpectedly successful marketing campaign, a playful prank introducing ‘Hampton Water Water’ as a new water brand for April Fool’s, surprisingly garnered interest with many people eager to pre-order cases of it before its launch. According to Bongiovi, the response was far more than anticipated.”
“Initially, we thought about naming it ‘Bed of Roses rosé.’ However, ‘laughed off’ might be a better term to describe our discussion about the name,” Bongiovi explains.
Emma Chamberlain
CHAMBERLAIN COFFEE
Scrolling through TikTok often reveals Chamberlain Coffee products such as tumblers, cans of latte, and an expanding product line including cold brew singles, instant sticks, coffee pods, ground and whole bean options, as well as matcha. This popular coffee brand, established by YouTube sensation Emma Chamberlain in 2020, has attracted a Gen Z fanbase. In June 2023, the company, backed by United Talent Agency, announced it had secured $7 million in fresh funding. Emma takes great pride in expanding the brand’s retail presence, including at Whole Foods. She shares, “Having a strong retail presence has been a personal dream because of my deep reverence for grocery shopping. I truly cherish the aesthetic appeal of a well-organized grocery store, and whenever I can, I love to spend my leisure time wandering the aisles.”
The Impact of Being an Artist on Managing a Business
Cameron Diaz
AVALINE
Four years following their debut of an additive-free wine brand, Cameron Diaz and her co-founder Katherine Power have successfully grown Avaline to the second most popular organic wine in U.S. retail stores and the fourth top-selling celebrity brand within the thriving adult beverage market. This July, they added a sparkling red Lambrusco to their collection, expanding it to a total of twelve varietals. On August 2nd, they showcased two of these wines at East Hampton’s Sí Sí Mediterranean as guest bartenders.
Gal Gadot
GOODLES
2023, September – On the very same day, my favorite food brand Goodles announced they’d snagged $13 million in Series A funding, barely two years since their debut. Founding partner Gal Gadot, who I’m a huge fan of, dropped an intriguing nugget on Instagram for her 108 million followers: Every two seconds, someone’s grabbing a box of Goodles health-focused mac and cheese off the shelves! You can find them at major retailers like Target, Kroger, Walmart, and Costco. What I love about Goodles is their commitment to “Make, Be and Do Gooder,” which means they donate at least 1% of all their sales to organizations tackling food insecurity. Talk about a brand that walks the talk!
Lady Gaga
HAUS LABS
It makes sense that Lady Gaga’s beauty brand, Haus Labs, is achieving global success, given her status as a worldwide icon. Estimates suggest that the brand could generate revenue between $75 million and $100 million by 2023, according to BeautyMatter. In March, Haus Labs expanded to 12 additional European countries exclusively through Sephora, following its U.K. launch. One of their products, the Triclone Skin Tech Foundation, has become viral on TikTok. With over 125 products in their lineup, Haus Labs is making a significant impact on platforms like TikTok, where beauty influencers frequently praise items ranging from blush to lip oil. The Triclone Skin Tech Foundation was particularly popular due to its viral status. As the star of “Joker: Folie á Deux,” Gaga has expressed her passion for makeup and transformation, which she’s poured into every product in Haus Labs.
Jennifer Garner
ONCE UPON A FARM
Jennifer Garner joined forces as a co-founder with Once Upon a Farm back in 2017, introducing organic baby food pouches along with meals and snacks for children of various ages. Since then, the company has experienced remarkable growth, allegedly generating over $100 million in annual revenue. As a mother of three, Garner infuses the business with personal touches, drawing inspiration from her long-standing family farm in Oklahoma for some of the recipes. Additionally, the brand collaborates with two of Garner’s other ventures: non-profit organization Save the Children (where she serves on the board) and women’s soccer team Angel City FC (in which she is an investor). Reflecting on her role as an entrepreneur, Garner expresses that artists can significantly contribute to the business world – we are collaborative, open to guidance, accustomed to rejection, and possess a resilient spirit.
“Insights gained about myself while establishing a business: I’ve come to understand that my approach to one task is reflective of my approach to all tasks. It’s essential to demonstrate versatility and indispensability. Attend meetings beyond your immediate responsibilities, familiarize yourself with the inner workings, recognize issues, find those who solve problems, and back their efforts. Be a motivator, but also be ready to offer guidance when necessary.”
“I interact differently with my company team compared to my talent team. With the company team, I tend to take a more assertive approach, while with my talent team, I maintain a more collaborative and supportive style.”
Selena Gomez
RARE BEAUTY
As a global gamer, I’ve seen Rare Beauty, Selena Gomez’s 4-year-old vegan and cruelty-free beauty brand, pop up everywhere – from my local store to online markets like Sephora. This beauty powerhouse has earned a spot in makeup bags worldwide, with an estimated valuation of $2 billion, as per The Business of Fashion. When rumors swirled about Selena selling the company, she swiftly shut them down, telling Time: “I’m not packing my bags just yet.”
The star of “Only Murders in the Building,” Taylor Swift, has been a strong advocate for mental health and incorporated this into her beauty brand via the Rare Impact Fund. This fund, established years ago, has managed to raise over $15 million for youth mental health by backing 26 different organizations. Apart from this, Swift is also an investor in the grocery delivery service Gopuff and co-founded the mental health platform Wondermind in 2021. When asked about starting her own business, Swift stated, “It wasn’t a smooth start, but I’ve learned to listen to my intuition and trust my instincts.”
“As a passionate artist embarking on my own entrepreneurial journey, I’ve come to realize that the artistic mindset can both facilitate and complicate the process of running a business. While the creativity and unique vision I possess are invaluable assets, they also present challenges when it comes to understanding the technicalities of business operations.”
Kevin Hart
GRAN CORAMINO, HART HOUSE, VITAHUSTLE
Known for his tireless work ethic in comedy as well as in business, Kevin Hart has proven himself to be equally industrious in the liquor industry too. In May 2022, this multitasking entrepreneur launched his own tequila brand, Gran Coramino, into the market. To ensure its success, he collaborated with Juan Domingo Beckmann, an esteemed 11th-generation distiller from the renowned Cuervo family. Together they crafted a premium flagship tequila that belongs to the Cristalino category – a spirit aged in barrels and filtered through charcoal to remove color while preserving delightful oak undertones. This tequila is now one of the most popular celebrity-endorsed liquor brands in the nation, according to a distributor source. Beyond this, Hart is also the founder of a vegan fast-food chain called Hart House, partners with Fabletics Men, and co-founder of VitaHustle, a supplement company.
Jay-Z
ARMAND DE BRIGNAC, D’USSÉ
In 2005, Jay-Z made a memorable rap lyric: “I’m not just a businessman, I am a business.” This wasn’t just a clever rhyme, as his current net worth of approximately $2.5 billion attests. A significant portion of this wealth comes from his venture capital firm, Marcy Venture Partners, which he established in 2018 alongside Jay Brown, the former CEO of Roc Nation, and Larry Marcus, a seasoned VC investor. The fund’s latest investment was in Finnish Long Drink, a ready-to-drink canned cocktail backed by Miles Teller. Additionally, Jay-Z owns Armand de Brignac champagne (with LVMH acquiring half of it in 2021) and D’Ussé cognac.
Dwayne Johnson
TEREMANA, ZOA, PAPATUI
Are you able to catch a whiff of what The Rock is brewing? It’s solid financial gains through a diversified investment portfolio. At the forefront is Dwayne Johnson’s Teremana small-batch tequila, which debuted in 2020, sold over a million cases last year, and has garnered more than a dozen spirits awards. In 2024, Teremana plans to expand globally, entering five international markets such as the United Kingdom, Australia, Germany, the United Arab Emirates, and Colombia in partnership with Mast-Jägermeister. Domestically, Teremana has teamed up this year with the World Series champions, the Texas Rangers, on a multi-year partnership, making it the team’s official premium tequila partner at Globe Life Field.
For those who prefer a sober lifestyle, Johnson contributes to the beverage sector with zero-sugar ZOA Energy drinks and pre-workout supplements. Moreover, Johnson, who is also the owner of the newly established United Football League, has ventured into the cosmetics industry through Papatui – an affordable range for men’s grooming products, which debuted at Target in March.
The Kardashians
MULTIPLE BRANDS
The Kardashian-Jenner clan has amassed an enormous business empire, spanning numerous sectors. This includes beauty brands like SKKN by Kim and Kylie Cosmetics, body shaping solutions with Skims, size-inclusive fashion through Good American, alcohol with 818 Tequila, wellness offerings such as Poosh and Lemme supplements, and cleaning products in the form of Safely. Leading this business dynasty is Kim, whose net worth, according to Forbes, stands at $1.7 billion this year, and Skims, a brand often making headlines for its high-profile ad campaigns, is estimated to be worth $4 billion. Each brand appears to cater to the unique interests of individual family members, and they are prominently showcased on their social media platforms as well as the Hulu series ‘Kardashians’.
Blake Lively
BETTY BUZZ, BETTY BOOZE, BLAKE BROWN
In the previous year, Blake Lively introduced her new line of low-alcohol sparkling cocktails under the brand name Betty Booze. This move came after the success of her pre-existing nonalcoholic sparkling beverage brand, also called Betty Buzz.
In 2023, Betty Buzz formed a partnership with the restaurant chain Yard House and has reported significant yearly sales growth in the thousands since 2021. This brand without alcohol content also expanded overseas last year and is currently a sponsor of Wrexham AFC, a football club based in the UK that Ryan Reynolds, who is on THR’s list, co-owns.
Vibrant brand Lively launched its first hair care line, exclusively available at Target, featuring only Blake Brown’s expertise. In her experience within the branding world, she emphasizes the importance of unwaveringly prioritizing quality: “Never compromise on quality – not once, not ever,” she stresses.
As a gamer, I’ve learned that every level in the game of entrepreneurship requires creativity. It’s not just about designing products or marketing strategies, but also solving unexpected challenges along the way. Just like in a game, necessity becomes the driving force behind innovation.
Eva Longoria
CASA DEL SOL, SIETE
Longoria takes great pride in the fact that Casa Del Sol, the tequila brand she co-founded in 2021, is produced at a “completely Mexican-owned distillery.” What makes her especially proud is that the company boasts a significant number of women in roles traditionally held by men, including a female master distiller. This, she says, is a major achievement for her. Additionally, Longoria has invested in and taken on an advisory role with food brand Siete this year. According to Food & Wine, Siete is the fastest growing Mexican American brand in the US market.
What Hollywood could learn from startup culture “Collaboration!”
“My inspirational role models for entrepreneurship are Rea Ann Silver, creator of Beautyblender, and Sara Blakely, founder of Spanx. Their inspiring success stories capture my attention. I admire their boldness, determination, resilience, and resourcefulness. They managed to succeed even when they lacked knowledge about manufacturing, cost per unit, and logistics. This resourcefulness is crucial when starting a business, especially during times when people may say no, but it’s essential to keep going, stay optimistic, and have faith in oneself.”
Shay Mitchell
BÉIS, ONDA
Following her hit travel series on Max titled “Thirst,” Shay Mitchell is broadening her fashionable travel gear brand, Béis, to cater to the whole family. The kids’ collections have already sold out. She attributes Béis’ success to her team and innovative marketing strategies: “We strive to be resourceful, clever, and strategic all at once,” she shares with THR. In 2019, Mitchell also co-founded Onda, a company specializing in bottled sparkling tequila that now offers blanco and reposado varieties; according to a distributor source, Onda is currently one of the top-selling celebrity adult beverage brands in the nation.
“Initially, we pondered naming it ‘Beige,’ reminiscent of an old bag I owned and used until its demise. However, it turns out that beige can’t be trademarked, so we opted for the Portuguese translation ‘Béis,’ meaning ‘beige’ in the Portuguese language.”
As someone who has spent years in the fashion industry, I can confidently say that our out-of-the-box promotion was a resounding success. In my career, I have attended countless events and launches, but this one stood out as truly exceptional.
MrBeast
FEASTABLES
Jimmy Donaldson, also known as MrBeast, has shifted focus from his MrBeast Burgers business last year and is currently conducting an internal investigation into his company due to a string of controversies. He’s expressed regret for past instances of inappropriate language, and contestants on his upcoming Amazon reality show, titled “Beast Games,” have raised concerns about safety issues on the set.
With his Feastables chocolate bars, YouTube sensation MrBeast (who boasts a channel with 309 million subscribers) is raking in the dough. Last year, he entered the market by hosting a sweepstakes modeled after “Charlie and the Chocolate Factory,” giving away a total of $1 million to ten lucky winners. He claims that these bars, now available at retailers like 7-Eleven and major supermarket chains, generate an annual revenue of approximately $100 million.
Gwyneth Paltrow
GOOP
Gwyneth Paltrow, an Academy Award winner, pioneered the actor-turned-businessperson trend, starting Goop as a newsletter in 2008 and transforming it into a multifaceted lifestyle empire. Known for her cutting-edge marketing strategies, she offers a variety of products such as cashmere sweaters, anti-aging serums, and popular items like the “This Smells Like My Vagina” candle. Paltrow’s ventures have extended to food (Goop Kitchen), beauty (including Goop’s first mascara), experiential travel (a collaboration with Baha Mar resort in the Bahamas), home decor (a partnership with Ruggable), and even clean beauty line good.clean.goop, available at Target and Amazon, aiming to broaden the brand’s accessibility.
Katy Perry
BRAGG, DE SOI, KATY PERRY COLLECTIONS
Katy Perry’s De Soi beverage brand, launched in 2020 during her pregnancy with Daisy, is projected to double the number of retail outlets carrying its products by 2024, aiming for 10,000 locations. Besides this, Perry and her husband Orlando Bloom are co-owners of Bragg Live Food Products, and she continues to produce unique footwear under her Katy Perry Collections company, now fully owned by her following her 2021 purchase of the brand. “I’ve learned that I can translate my creative vision into products,” she says, “but I’m also aware that there are things I don’t know. The success depends on the strength of your team.”
Last year, our brand, De Soi, achieved its greatest triumph with the introduction of our latest product, Spritz Italiano. This delightful new flavor quickly soared to the top of our sales rankings. The timing couldn’t have been better, as we launched this invigorating spritz right at the start of summer, making it the preferred drink for the season and effortlessly attracting a multitude of new customers to join the De Soi family. Our multi-faceted marketing campaign — encompassing events, social media, influencer collaborations, and advertisements — made Spritz Italiano seem ubiquitous, generating an unstoppable wave of excitement that captivated everyone’s attention.
Michelle Pfeiffer
HENRY ROSE
Michelle Pfeiffer’s five-year-old business, Henry Rose, recently introduced its thirteenth fragrance in late July. Just like every item produced by Henry Rose, which now offers products for both the body (sprays and creams) and home (candles), the new limited-edition Jake’s House BVI is free from gender classification, has been certified by the Environmental Working Group, and does not test on animals. Initially a direct-to-consumer brand, Henry Rose now collaborates with Credo, Nordstrom, and (from June 2023) Sephora, which sells the brand online and in over 600 stores across North America. The partnership with Sephora was established one month after the company received its first external investment, a Series A infusion from Sandbridge Capital.
According to Pfeiffer, who is gearing up for roles in Taylor Sheridan’s new ‘Yellowstone’ spinoff and Amazon MGM Studios’ holiday comedy ‘Oh. What. Fun’, the beauty industry is always changing, making learning a daily necessity. He emphasizes that maintaining authenticity to the vision and purpose is crucial when developing a personal brand or company.
Discussing the challenges (or advantages) artists encounter when managing their own businesses: Just as acting requires bringing a character to life and a perfumer crafting an evocative scent, so too does being an artist involve creating something out of imagination. This imaginative process involves visualizing something that doesn’t yet exist and then putting in the effort to bring it into reality.
Issa Rae
HILLTOP, SIENNA NATURALS, VIARAE
Issa Rae is rapidly climbing the ranks to mogul status, all while shining a thoughtful light on her community. Born in South L.A., she partnered with Yonnie Hagos and Ajay Relan to establish Hilltop Coffee + Kitchen, now boasting four locations following its debut in Inglewood and a commitment to providing healthier choices in underserved areas. This versatile actress, known for her roles in ‘Barbie’ and ‘Insecure’, is also the co-founder of Sienna Naturals, a hair and scalp care brand specializing in clean textured products that has recently made its way into Sephora. In 2023, she launched Viarae, a prosecco line. What can Hollywood learn from the startup world? Rae responds, “Address an unmet need, innovate, and take chances!”
“The success of your business as an artist hinges upon your personal artistic prowess and the level of credibility you maintain with your audience.”
“The unique advertising campaign we ran for Viarae, featuring an ASMR, shirtless bartender, proved very successful. It was a fantastic blend of creativity and execution, hitting the mark exactly as intended.”
Ryan Reynolds
MULTIPLE BRANDS
Ryan Reynolds not only earns substantial amounts in film roles, but also through his business ventures. For instance, he is a co-owner of Wrexham AFC with actor Rob McElhenney. Furthermore, last year, Reynolds became part of an investment group that acquired a share in the Alpine Formula 1 team. As reported by Forbes, Reynolds pocketed approximately $337 million from the sale of Mint Mobile (in which he held a reported 25 percent stake) to T-Mobile last year.
Reynolds is not only a co-founder of the production company and marketing firm Maximum Effort, previously owned by MNTN since 2021; he currently holds the position of Chief Creative Officer at MNTN. In addition to this role, the actor retains ownership in Aviation Gin, which was purchased by Diageo for $335 million initially in 2020, with an additional potential payout of up to $275 million over a decade based on performance.
The actor and producer who’s famous for starring in Deadpool and Wolverine, enjoys the business aspect of being an entrepreneur, and refers to his marketing strategy as “fast advertising.” This approach isn’t just about promoting products; it also involves engaging with and adapting to current cultural trends at a rapid pace, ensuring that the marketing seems relevant and aligned with the ongoing discussions on digital platforms.
“The insights I gained about myself from establishing a business: Acknowledging ‘I don’t know’ and being curious isn’t a sign of weakness, but rather a strength that encourages collaboration. It empowers team members and fosters an emotional commitment to collective growth. Collaborative efforts and shared ownership are powerful catalysts for driving creativity beyond what can be achieved through delegation alone.”
“As an avid fan, I’ve noticed that the bond between audiences and successful startups or brands is something Hollywood could benefit from. Instead of chasing short-term successes, it seems more effective to build trust and maintain consistency with customers over time.”
Rihanna
FENTY BEAUTY, SAVAGE X FENTY, FENTY HAIR
In contemporary usage, terms such as mogul, boss, and empire are frequently applied, yet they seem particularly fitting when discussing Rihanna. This is not without reason, for her entrepreneurial journey began with the debut of Fenty Beauty in September 2017, which has since grown beyond her initial expectations. In fact, she stated that it had grown “bigger than I ever imagined.” So, just how large is Fenty? Forbes elevated her to billionaire status in 2021 on the basis of a 50% stake in all Fenty-related ventures. Originally recognized for its extensive range of foundations catering to various skin tones, Fenty has since diversified into areas such as skincare with Fenty Skin, fragrances through Fenty Eau de Parfum, clothing under Savage X Fenty, footwear collaborations with Fenty x Puma, and most recently, the launch of Fenty Hair product line.
Tracee Ellis Ross
PATTERN BEAUTY
Tracee Ellis Ross, known for her acting, activism, and entrepreneurship, introduced Pattern Beauty in 2019 – a business focused on celebrating Black beauty and developing hair care products specifically designed for curly, coily, and tightly-textured natural hair styles. This year, two of its top sellers, the Curl Mousse and Leave-In Conditioner, have contributed to a significant revenue increase, according to Ross herself. In addition, the brand has ventured into the heated tool category by launching a professional-grade three-in-one curling iron. An unconventional marketing strategy for Ross involves showcasing her use of Pattern products during live demonstrations – she takes a shower while using them in front of an audience, wearing a bathing suit to emphasize that she’s not only the CEO but also a customer, and finds it crucial to demonstrate how the products work.
“I collaborate differently but equally effectively with my company team and my talent team. Although their roles may differ, both teams are integral to my success. It’s like a well-oiled machine; without the synergy between them, I wouldn’t function as smoothly. My methods remain consistent: I always seek to understand the ‘why’ behind every action, ensuring our endeavors align with our objectives and vision. Whether it’s Pattern, Joy Mill Entertainment, or my personal mission, accountability to our shared DNA is crucial.”
Snoop Dogg
MULTIPLE BRANDS
Snoop Dogg, who gained fame as the popular star at the Paris Olympics, is one of the most productive rappers in the history of music. His business acumen is nearly matched in abundance. Through his investment firm, Casa Verde Capital, the artist has seen substantial profits in the cannabis industry. He’s made money from various ventures such as Dr. Bombay Ice Cream and Snoop Cereal (from Broadus Foods) to clothing lines for dogs under the Snoop Doggie Doggs brand. However, his move into the adult beverage sector might be his smartest business decision yet. His wines under the Australian label 19 Crimes are the top-selling celebrity alcohol product at one of the biggest U.S. distributors, according to a source. Moreover, in partnership with his longtime collaborator Dr. Dre, he launched a ready-to-drink cocktails line in February: Gin & Juice by Dre and Snoop.
“At a party following the Super Bowl, everyone was taken aback when we suddenly unveiled our plan – hosting the Snoop Dogg Arizona Bowl Presented by Gin & Juice by Dre and Snoop. This marked a first as an alcohol company became the title sponsor of an NCAA bowl game. In July, Dr. Dre and I made our return to London’s stage after 30 years, with Eminem making a surprise appearance.”
“Last year, our brand scored a major triumph with the successful collaboration on the Gin & Juice by Dre and Snoop project. This initiative allowed us to celebrate West Coast culture during Juneteenth, while also supporting Kendrick Lamar’s Pop Out concert alongside Ken & Friends.”
Ian Somerhalder and Paul Wesley
BROTHER’S BOND
Ian Somerhalder and Paul Wesley have evolved their relationship from co-stars to good friends to thriving business partners. Following the end of their tenure on The Vampire Diaries in 2017, they sought ways to continue working together. The intriguing solution came in the form of American whiskey. Debuted in 2021, their Brother’s Bond Bourbon – one of the top-selling celebrity spirit brands in the U.S., according to a distributor source – has formed collaborations with Marriott and Delta for its Delta One lounges and has extended to include award-winning variations of rye, barrel-strength bourbon, and a blend crafted from grains grown through regenerative agriculture. According to Somerhalder (who also recently started The Absorption Company, a powdered supplement brand with his wife Nikki Reed), persistence is the primary ingredient for success. “Maintain a smile on your face even in the most difficult times and keep going,” he advises. “Entrepreneurs sometimes overlook the fact that energy is contagious.”
In contrast to working with my company teams, which involves a consistent flow of data exchange, task management, and system handling, collaborating with my talent team is more about intricate contract negotiations, forging strategic alliances with brands, and less about acting. However, recently, I’ve begun working closely with my producing partner and the talent team to develop what might be my final project in my career.
Wesley shares that he initially opposed the name “Brother’s Supreme,” as proposed by Ian Somerhalder. Instead, he suggested “Brother’s Bond.” Looking back, those words led to the final decision, according to Wesley.
Gabrielle Union and Dwyane Wade
MULTIPLE BRANDS
Successful duo in both personal and professional ventures, Dwyane Wade and Gabrielle Union, individually or together, hold significant investments or ownership in various domains. These include clothing (Way of Wade apparel, Mission athletic wear, Stance socks), hair care (Flawless brand), sports teams such as Utah Jazz, WNBA’s Chicago Sky, MLS’s Real Salt Lake and NWSL’s Utah Royals, digital entertainment (BallerTV), snack foods (Bitsy’s, stocked in Walmart), wine (Wade Cellars) and cannabis (Jeeter). The dynamic duo also jointly own Proudly, a baby-care line specifically formulated for skin of color, which has recently launched baby products designed for textured hair. As Union explains, the secret to Proudly’s success lies in real people sharing genuine stories about how these products have positively impacted their children’s lives.
The Proudly baby care union mentioned they initially thought about naming it as “Gabby’s Goodies,” but ultimately decided against it, saying so themselves.
“Running a business can be easier when you’re an artist, as it gives you a unique voice and perspective to attract attention on social media and in the press, as well as access to start-up capital. However, there may be challenges such as being perceived as having unlimited resources and being expected to work for free. On the flip side, being an artist allows me to express myself genuinely in all aspects of my business, fostering authenticity and creativity within my team and partners. It also enables me to think big and tap into the limitless potential that I possess,” says Union. Similarly, Wade notes, “Being an artist makes it easier for me to lead authentically, as I can cultivate a creative environment for my team and business partners. This authenticity allows them to bring their best selves to work, and it also enables me to dream ambitiously.”
2021 marked a significant triumph for my brand, Wade Cellars, with the introduction of the When We Gather event series. As described by its creator, Wade, this series was designed to foster community and dialogue through wine and culinary experiences. By collaborating with minority-owned restaurants, we’ve organized interactive wine dinners nationwide. This year, we were fortunate enough to extend the series in collaboration with brands like JP Morgan Wealth Management and Netflix, who helped us create a stand-up comedy night during their Netflix Is A Joke Festival.
Sofía Vergara
SOFÍA BY SOFÍA VERGARA, DIOS MÍO COFFEE, TOMA
Sofía Vergara, nominated for an Emmy in ‘Griselda’, started her long-term collaboration with Walmart back in 2019. She’s been designing a variety of items such as clothing, intimates, accessories, home decor, and recently swimwear and cover-ups for the Sofía by Sofía Vergara collection. But that’s not all she’s got going on – in June, she introduced Dios Mío Coffee, a line of Colombian coffee, blended by an all-female team of coffee growers. In the same month, along with her son Manolo Gonzalez, she launched Toma, a culinary brand that aims to share delicious Latin dishes like salsas and empanadas with people everywhere.
“Through the process of establishing my own business, I discovered that I excel at thinking creatively! Unexpected challenges and obstacles often arise in this endeavor, but I’ve found myself adept at devising innovative solutions and finding alternative ways forward. I believe these creative problem-solving skills are invaluable assets for any entrepreneur.”
As a seasoned researcher myself, I can relate to the hard work and dedication that goes into producing a report. Kirsten Chuba, Danielle Directo-Meston, Chris Gardner, Nicole Fell, Brad Japhe, and Erin Lassner are individuals who have put in countless hours to contribute to this report. Their collective expertise shines through each page, demonstrating their commitment to the pursuit of knowledge and understanding. Each person has likely faced challenges and obstacles along the way, but they’ve persevered and made a significant impact on the field with their contributions to this report. I admire their dedication and am grateful for their tireless efforts in advancing our collective understanding.
Originally, this tale was published in the August 7 edition of The Hollywood Reporter Magazine. To stay updated with such intriguing stories like this one, consider subscribing by clicking here.
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2024-08-12 19:28