You blame Gwyneth Paltrow or maybe Ryan Reynolds or even Sammy Hagar. All three of those big-name Hollywood, and in Hagar's case, music stars made it look easy when it came to putting their name on brands.
Paltrow's Goop, while often the target of jokes, broke new ground as a celebrity lifestyle brand where the celebrity actually lived the lifestyle. The entire Goop philosophy and product line might veer very close to ridiculous, but it has been hugely successful and largely allowed the actress to put acting behind her.
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Hagar can be considered the godfather of the celebrity lifestyle brand movement (with a heavy nod to Jimmy Buffett as it's hard to distinguish his lifestyle from his music). The Red Rocker's Cabo Wabo Tequila showed that if you have an A-list performer backing your brand (in this case owning it) then it's easier to break out from a pack of similar products.
This wasn't an endorsement — the public is skeptical of those as perhaps George Clooney does not drink Nespresso coffee and we know Tom Brady does not eat at Subway. Instead, it was brand as an extension of the former Van Halen lead singer's music and lifestyle.
Most Americans may not know the difference between one tequila and another, but they know Hagar and many want to drink what he's drinking.
That same logic worked for Reynolds American Gin By Aviation. Gin is another liquor where many drinkers don't really know the difference between brands. Reynolds giving a brand his stamp of approval made it stand out.
That's a recipe that has worked over and over, but just being famous and living the lifestyle your brand promotes appears to not be enough, at least for celebrity couple Kristen Bell and Dax Shepard.
Image source: Bruce Glikas/Bruce Glikas/FilmMagic
Hello Bello started with big intentions
Bell and Shepard have made their marriage and their family very public. The pair have starred in ads for a number of companies where their relationship is front and center and their kids are alluded to (but not shown).
The pair has made being a regular family that's not all that different from yours their act and they tried to leverage that into the diaper brand Hello Bello.
"At Hello Bello, we have one simple goal: to eliminate the choice many parents have to make – deciding between what’s best for their kids and best for their budget. We believe in premium for all because every baby deserves the best," the company shares on its website.
The line launched in 2019 exclusively at Walmart locations, the chain's website, and the Hello Bello website.
"Founded by parents Kristen Bell and Dax Shepard, along with Sean Kane (co-CEO), Jay McGraw (co-CEO), and Jennifer Pullen (CFO & COO), the complete line of products is designed to give every parent access to high-quality, better-priced everyday essentials that are better for babies, budgets and the planet," the company shared on a press release.
Hello Bello files for Chapter 11 bankruptcy
Now, the company has reached a deal to be sold and has filed for Chapter 11 bankruptcy protection to make that happen. Hello Bello has reached a deal to be purchased by Hildred Capital Management, a healthcare-focused private equity firm that seeks opportunities to create value in middle-market companies.
"To facilitate the acquisition, Hello Bello and its affiliates have filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware. The Company is seeking approval of the proposed transaction pursuant to section 363 of the United States Bankruptcy Code, which will subject the proposed transaction to higher or otherwise better offers," it shared in a press release.
Neither Shepard nor Bell made a comment in the release.
"Given macroeconomic trends, including inflation and increased shipping costs, we believe that this course of action is the best path forward to ensure that Hello Bello continues to bring families the highest quality and most environmentally friendly products at affordable prices," said CEO Erica Buxton.
The company expects to keep operating as normal during the bankruptcy proceedings.
