The recent launch of the One8 brand of Virat Kohli is going viral over the internet, the brand is profitable and creating records in sales. It was a grand launch as Virat himself is a big celebrity. In the same pattern many celebrities launch their brands, but why ? Yes, celebrities launch brands because stardom is not permanent, it comes and vanishes quickly. People generally admire them for the movies they make and the skills they have. But it can't turn into profits due to instable fame and influence.
Why do celebrities start business, when they are already making money by doing advertisements and promotions ? They enter by thinking about a long-term vision. A celebrity career has ups and downs full of instability. To protect themselves from financial loss or manage overall life, they start a business. During their peak years, they make money which they invest properly. One flop or viral incident can harm their life and career. So, as a precautionary measure and to maintain celebrity status they would create businesses for money.
Why do many celebrities fail with brand making of their own?
The expectations of the customers are high. They are eagerly waiting to see, observe and gain good output from the brand. It will be promoted easily, and within a few weeks, it could reach many audiences. The real reason for the struggle comes after the launch. People's expectations are high and the moment it launches, criticism and audits of products will wander around the internet. In today's times, gaining attention from people or fame on the internet is easy. Gaining trust and belief in the products is the major problem. The customer likes fame and popularity, but when it comes to buying, it requires quality and trust. Followers are not customers, they just admire them, but to gain real growth one has to have a strong profit. Many celebrities think they can sell products at high prices and focus less on products. It literally backfires, and many celebrity brands have lost their business already.
Most of the energy goes towards promotion and branding. It creates hype but losses quickly once it has reached markets. Only a few brands, like HRX or Hrithik Roshan, have made profits due to most of the business and operations being handled by business experts. The product values and quality were accurate for Indian audiences. Anushka sharma’s Nush brand failed in the market, Shahid kapoor’s brand Skult failed, and the website is not functioning now.
The celebrity status helps but the Indian customers want quality, trust and reliability.
