Born in the USA, Embraced Globally: The Rise of Celebrity Brands Part 1
Celebrity brands have exploded in popularity in recent years, transcending geographical boundaries. The idea that celebrities, whether movie stars, musicians, or royalty, epitomize, endorse, and “stand” for products is not new. However, the concept of an actual brand built by and around the celebrity itself and the accompanying evolution of a dedicated segment spanning premium and luxury brands is relatively new.
This trend has its roots in the USA, where many successful launches were first introduced to the market. They continue to find traction since the US is the original cradle of movie stars, rock stars, and original social media influencers. Gwyneth Paltrow with GOOP was one of the earliest celebrities and a member of Hollywood royalty to branch into this business, resting on her global name recognition, image, and lifestyle choices. Goop today is a massive wellness and lifestyle company encompassing content, beauty, and fashion and is reportedly worth $250 million. Two keywords have been drivers behind the growth of celebrity brands as of late: beauty and Gen Z. To say there has been a lot of hype around celebrity beauty brands like Rhode Skin by Hailey Bieber and Rare Beauty by Selena Gomez, would be an understatement. The former is a clean beauty brand gaining a massive following with a waitlist of 100,000 before it even launched, and the latter, a beauty brand focused on mental wellness, is purportedly for sale for $2 billion.
As the global marketplace continues to add celebrity brands, we are seeing new versions despite negative press and some apparent “celebrity brand fatigue.” As is often the case with emerging trends and resulting new segments, this industry has ridden a popularity wave towards a certain saturation level and faces the need to adapt and reinvent itself continually.
This report analyzes the reasons behind the rise of this phenomenon, explores the common strategies employed by successful celebrity brands, and gives a preview of the future and evolution of celebrity brands. Download the full report.
