Early 2024 saw the release of new products endorsed by Hollywood’s biggest celebrities, including Beyoncé’s hair care brand Cécred in January and Dwayne Johnson’s skin care brand Papatui, which launched last month.
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It’s no wonder: The success of brands like Jessica Alba’s The Honest Company and Rihanna’s Fenty Beauty has made the idea of creating celebrity-backed products appealing. 60% of all celebrity brands have been launched in the past six years.
Alcohol, particularly tequila after George Clooney’s success with Casamigos, is a particularly vibrant sector. In beauty, celebrity brands are set to surpass $1 billion in sales in November 2023, according to NielsenIQ, growing nearly 58% year-over-year — more than five times faster than the beauty industry as a whole.
And yet, the industry may not be as lucrative or glamorous as it seems. With the potential for consumer fatigue, it has become clear that it takes more than a big name or a strong following to attract customers in the first place.
