Monday, July 7, 2008

Taylor Quits Jewellery Company


29 June 2008 5:50 PM, PDT From wenn.com See recent WENN news
Dame Elizabeth Taylor has been forced to walk away from her jewelry company after her designs failed to entice shoppers.
The veteran actress and her House of Taylor Jewelry partner Kathy Ireland quit their California-based firm last week (begs23Jun08) after executives' efforts to revive the brand proved futile.
The pair owned a combined 49.5 per cent share in the company. But despite their stock options, generous licensing fees and personal involvement in the project, Taylor and Ireland have opted to turn their backs due to lacklustre profits.
The Nasdaq stock exchange delisted the company just last month as a result of its declining sales.
The firm now owes lender Connecticut-based New Stream Secured Capital a reported $11 million (GBP5.4 million), according to the New York Post.

1 comment:

Dan said...

I don't think it's that "her designs failed to entice shoppers" I think it's that money is so tight with everything (mortgages, insurance, rent, food, gas) that of course people can't eat or live under jewelry. Many people are loosing their houses and most people can't afford jewelry like this to begin with. Her designs are very beautiful as she is.