Celebrities or (Sell)ebrities?
Majority of the most
successful businesses in the market today have one or more celebrity
endorsements. Companies use well-known celebrities that people admire to appeal
to the consumers desire to be more like that person. Companies like Nike,
endorsed by Michael Jordan and Lebron James, Fabletics, creating lines with
Demi Lovato and Kate Hudson, and Puma, endorsed by Rihanna, have all brought in
millions of dollars in revenue thanks to collaborations with respected
celebrities. Many of these celebrities have made more money off their
endorsement deals than they have in the career they are known for, for example:
Michael Jordan makes more money in one year from his deal with Nike then he did
in his 15-year basketball career. As long as spokesperson remains in good
standing having an endorsement by someone famous could make a business, or
break it if they end up with a bad reputation. So is it worth the rsik?
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