Deepika Padukone's brand 82°E faces massive loss, Hrithik Roshan's HRX and Katrina Kaif's Kay Beauty are in profit, Report

Bollywood celebrities have long leveraged their star power to venture into entrepreneurship. Over the years, this trend has seen a rise, with A-list celebrities launching their own brands in fashion, beauty, fitness, and lifestyle. While some of these ventures have become success stories, many others struggle to gain traction or turn profitable. A recent report by Storyboard 18 analyzed various celebrity-led brands and revealed stark contrasts in their financial performances.

HRX and Kay Beauty: The Success Stories

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One of the most prominent success stories is Hrithik Roshan’s HRX, which has now crossed the ₹1000-crore revenue mark. Launched in 2013 as a fitness and lifestyle brand, HRX has witnessed a remarkable growth trajectory, becoming one of India’s leading celebrity-endorsed brands. Its success is attributed to its strong brand identity, which resonates with Hrithik Roshan’s personal image as a fitness icon. HRX offers a range of products, from fitness apparel and shoes to accessories, and its partnership with Myntra has further boosted its market presence.

Similarly, Katrina Kaif’s beauty brand, Kay Beauty, has also emerged as a profitable venture. Launched in collaboration with Nykaa, Kay Beauty has garnered a loyal customer base, with over 15 lakh customers in its portfolio. The brand is expected to grow at a rate of 62%, driven by its innovative product offerings and Katrina Kaif’s influence in the beauty segment.

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Deepika Padukone’s 82°E Faces Losses

On the other end of the spectrum is Deepika Padukone’s skincare brand, 82°E, which has shown a significant loss of Rs 25.1 crore at the EBITDA level in the first nine months of FY24. Despite Deepika’s stature as a global celebrity and her active involvement in promoting the brand, 82°E has struggled to gain a foothold in the competitive skincare market. The report suggests that the brand’s high pricing and limited market penetration could be contributing factors to its underperformance.

Challenges Faced by Celebrity-led Brands

The report also highlights the challenges faced by other celebrity-led brands. Virat Kohli’s WROGN has seen a revenue decline of 29%, while Shahid Kapoor’s Skult and Anushka Sharma’s Nush are experiencing diminishing returns. Even Sonam Kapoor’s Rheson is grappling with market presence and return on investment issues.

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The analysis attributes these struggles to a lack of clear brand identity and overexposure. According to Ambika Sharma, Founder and Chief Strategist of Pulp Strategy, “When a brand doesn’t genuinely represent the celebrity’s interests or seems like it’s just there for quick gains, consumers pick up on that. Overexposure can also be a killer—if a celebrity endorses too many products, it dilutes their credibility and the brand’s impact.”

What Sets Successful Brands Apart?

The success of Hrithik Roshan’s HRX and Katrina Kaif’s Kay Beauty is rooted in a clear brand identity and alignment with the celebrities’ public personas. An expert quoted in the report emphasized that these brands have managed to connect with their core user base, something other ventures have struggled with. For instance, HRX’s association with fitness and active lifestyle perfectly complements Hrithik’s image, while Kay Beauty’s focus on easy-to-use beauty products resonates with Katrina’s style.

Alia Bhatt’s Ed-a-Mamma is another example of a brand that found success by aligning its values with the actress’s personal brand. After being acquired by Reliance Retail, Ed-a-Mamma saw its revenue increase four-fold, solidifying its position in the children’s apparel segment.