What goes wrong? Why most entertainment, sports celeb brands fail, struggle to make profits - These might be key reasons
New Delhi, Oct. 21 -- Celebrity brands often attract attention, but turning that interest into profit is harder. Fans may celebrate a launch without becoming regular customers. A famous name helps people notice products while quality decides whether they return. Experts say fame alone cannot build a lasting business.
According to Renu Prasad - COO of owned brands at Genesis Colors, celebrities mainly speed up acceptance during the first few years. After that, products must compete on their own strengths.
"Long-term success will remain the same whether you have a celebrity or not. A celebrity will only hasten the acceptance in the first couple of years," Prasad told Outlook Business.
Brands need reliable quality, sensible prices and rea...
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