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House of Taylor Jewelry Inc. (OTC: HOTJ) is closing up shop, according to The New York Post. Elizabeth Taylor and Kathy Ireland, the company's celebrity spokespeople, have severed their ties with the company, leaving New Stream Secured Capital to forage for the $11 million it's still owed.Taylor and Ireland reaped generous license fees for their participation in the venture and also owned a combined 49.5% stake in the venture.
Having debuted at $4 per share in 2006, House of Taylor closed on Tuesday at less than 4/10th's of one penny. The failure of this company could hardly be considered surprising. The company's large debt load makes this a tough economic environment to execute a turnaround and it seems doubtful that has-beens like Kathy Ireland and Elizabeth Taylor have sufficient selling power to justify their licensing fees.
Looking through the S&P list of jewelry companies, I'm having trouble finding one whose stock has been up over the past 52 weeks.
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Reader Comments (Page 1 of 1)
7-03-2008 @ 3:38PM
Kent said...
Jewelery is eschewed as an investment medium unless you deal with high profile jewels along the lines of the Hope Diamond. It ties up your liquidity and rarely are you able to sell them at their assessed or even purchased value. Jewels are valued for their aesthetic and personal enjoyment that they bring, which is fine.
7-06-2008 @ 10:53AM
Jack said...
E.T. seems to still do pretty well selling her smells, not sure but that she's hit the Elvis/Monroe etc. archetype sphere while still alive. Don't see Kathy in the Picture from a marketing angle. Still, what I saw of the jewelry wasn't very exciting. E.T.'s deal with Avon a few years back to do costume knock-offs of some of her treasures was fairly successful, and the stuff even has collectible kitch value today. Tough to compete in the Bulgari, Cartier, Tiffany, Garrard league. E.T. was beautiful beyond belief, but she's not a brilliant designer. But, I'll bet she did rather well for herself in the venture.