The power of celebrities has also changed the nature of endorsements; nowadays famous people have so much power they can dictate how the endorsement deal works or they even have large stakes in the businesses they are promoting. A great example of this is the mega deal that rapper and producer Dr Dre inked for Beats by Dre, the hugely successful headphones brand that has earned him millions. Instead of just being the pretty faces that make a brand look good, celebrities are now actively participating in the process and getting widely involved in the boardroom. The new celebrity endorsements that have taken place are clear evidence of the power that celebrities now have in business. These 5 examples are smart, cool and highly profitable.
G-Star Raw and Pharrell Williams
G-Star Raw is a popular and fresh brand that has a huge following among the hip, cool and switched on and in 2014 the brand partnered with Williams for a denim fashion line called RAW for the Ocean. The initiative behind this brand takes the plastic and waste that finds its way to the oceans and transforms it into fashionable denim pieces. The business behind this initiative is called Bionic Yarn and the work the brand does has been heralded as the next generation in denim and fashion. This initiative is part of the wave of sustainable fashion that many celebrities have gotten involved in.
Fabletics and Kate Hudson
Fabletics is a brand of curated active wear that is backed and co-founded by actress Kate Hudson. What Fabletics offers is a service and a product rolled into one. Customers pay for a monthly fee and in return they get an outfit every month, chosen by the creators of the fashion line. It’s a cool business that speaks to the need to be fit and look good and fashionable at the same time.
The Honest Company and Jessica Alba
When Jessica Alba became a mother she decided to put her passion for eco-friendly products for children by to use by starting the Honest Company which sells non-toxic products that are safe for babies and their parents. The company has also partnered with non-profits that work in the safety of children, and it shows signs of going public and having even more influence.
Typo Keyboard and Ryan Seacrest
Celebrity mogul Ryan Seacrest is involved in several business ventures including producing successful TV shows like Keeping Up with the Kardashians. In 2014, Seacrest ventured into mobile technologies with the Typo Keyboard, an idea that was born out of his frustration with the usual keyboards that came on mobile devices. The keyboard features bigger buttons making it a godsend for anyone who spends a lot of time running businesses from a mobile phone.
Backplane and Lady Gaga
Backplace is a venture started by former Google exec Eric Schmidt and it’s an app that leverages the fame and influence of celebrities or brands into social networks dedicated to them. Lady Gaga was one of the first people to get involved with her own social network which promises to do wonders for her brand.
Celebrity endorsements continue to shift and change as the nature of business also changes. The next wave of celebrity endorsements promise to not only involve famous pop stars and actors but also people who have a massive following on social media platforms like Youtube and Instagram. With fashion bloggers gaining more and more influence it makes sense for brands to partner with them and build a relationship so that they can turn the fans of these people into their own customers. Celebrity branding and endorsements will always be an evolving art and considering the strides that products like Beats by Dre have made, it’s safe to say that bigger things are coming.