First William Rast, now Givenchy: Eau de Timberlake?
Normally, most celebrity fragrances (and denim lines from celebs too!) go the way of the TJ Maxx clearance bin shortly after being introduced. But with Justin Timberlake’s success with his denim line, William Rast, and his new partnership with Givenchy, maybe his new venture will succeed. Mr. Timberlake is said to be the new face of Givenchy’s new line but it isn’t exactly clear whether the fragrance will carry his name or not…Eau de Timberlake perhaps?
It’s dollars and scents for Justin Timberlake. The full-time pop star, part-time clothing designer and occasional actor inked a deal last week to be the face of Parfums Givenchy’s new men’s fragrance, set to launch in the autumn.
The deal should raise the cachet and earnings of the stylish star, who raked in $20 million last year, placing him 34th on Forbes’ list of the 100 Most Powerful Celebrities.
How much will Timberlake earn from smiling for the cameras? LVMH, which owns Givenchy, hasn’t disclosed the terms of their deal.
However, a number of top-rank celebrities have earned over $10 million for signing on as a spokesmodel. Angelina Jolie took home a reported $12 million in a three-year-deal with clothing label St. John, while Gwyneth Paltrow reportedly earns $3 million per year shilling for Estée Lauder.
In a statement last week, Alain Lorenzo, president and CEO of Parfums Givenchy, said that they chose JT for his innate style. “He is a world-recognized trendsetter who redefines modern elegance.”
Modern elegance aside, the conglomerate is hoping to give its good-smelling sector yet another financial boost with a big-name star like Timberlake. Unlike many areas of retail, the premium fragrance industry is booming. LVMH’s perfume and cosmetics brands logged a profit of 256 million euros in 2007, a 15% increase from the previous year.
Beyond the fragrance deal, Timberlake is also making his mark in fashion. His well-received clothing label, William Rast, is bringing out a women’s line for the fall. It debuted in mid-February at Project Las Vegas, a biannual denim trade show.
Timberlake is following in the steps of mogul Sean “Diddy” Combs, whose fashion line and fragrance collections have achieved both critical and financial success. In 2006, Sean John Unforgivable–Combs’ signature scent–brought $74.9 million in sales to parent company Estée Lauder, making it the best-selling celebrity scent that year.
And like Diddy before him, the 27-year-old entertainer wants to make it as an actor. He recently signed on to star in the film “The Open Road,” playing a member of a minor league baseball team, the Hooks of Corpus Christi, Texas, alongside veteran actors Jeff Bridges and Mary Steenburgen.
Would Timberlake’s minor league baseball player be caught dead wearing Givenchy? Probably not. But the quintuple-threat is sure hoping his fans will spray away.
Article courtesy Forbes.com