Country Music Hall of Famer Dolly Parton has expanded her business ventures with the launch of a new line of breakfast products. The announcement was made on The Today Show, where Parton revealed her partnership with Duncan Hines and its parent company, Conagra Brands Inc.
The breakfast line includes a variety of mixes, such as buttermilk, blueberry muffin, and chocolate cake. With this new venture, Parton aims to challenge popular morning staples like General Mills’ Bisquick and Pepsi Co’s Pearl Milling Co pancake mix (formerly known as Aunt Jemima).
Parton, who was inducted into the Rock & Roll Hall of Fame in 2023, is following in the footsteps of other celebrities who have ventured into consumer goods like food and apparel. This trend of celebrities teaming up with companies to release branded products is not new, with notable examples including Ryan Reynolds’ partnership with American Aviation Gin and Roger Federer’s investment in On Holding AG.
However, what sets these recent collaborations apart is the celebrities’ equity in the growing brands. Reynolds and his business partners sold Aviation Gin for over $600 million, reportedly earning Reynolds more than $100 million. Federer’s equity in On Cloud running shoes surpassed $150 million when the company went public in 2021.
The success of these celebrity-backed ventures highlights the potential for lucrative business opportunities in today’s market. Kim Kardashian, for example, is set to make hundreds of millions when her shapewear company, Skims, goes public later this year. Her half-sister, Kylie Jenner, has also built her cosmetics brand into a billion-dollar venture.
The playbook for starting a successful business and product line in 2024 seems clear – be rich and a celebrity. While this may sound simple, it takes more than just fame and fortune to build a thriving brand. However, the influence and platform that celebrities possess certainly provide a head start in the competitive business world.
Dolly Parton’s foray into the breakfast market is just another example of a celebrity leveraging their brand and fanbase to expand their entrepreneurial pursuits. As consumers, we can expect to see more collaborations between celebrities and companies, resulting in a diverse range of branded products hitting the market. Whether these ventures are successful or not will ultimately depend on the quality of the products and the loyalty of the celebrity’s fanbase.
