Behind the Boom in Celebrity Brands

There was a time when consumer goods companies paid musicians,
athletes, and actors for
endorsements, or to license their name and
likeness. But in recent years, there's been an explosion of
celebrities getting into business directly, selling everything from
shapewear to tequila. Ayelet Israeli, professor at Harvard Business
School, says the growth of social
media and online, direct-to-consumer retail
accelerated this trend, but notes that not all celebrity brands are
a success. She explains what works and doesn't, and outlines
lessons for non-famous entrepreneurs and established
companies. Israeli is coauthor of the HBR
article "What Makes a Successful Celebrity Brand?"