Celebrity endorsements are hardly a new concept for CPG brands, but these talent-brand partnerships have evolved beyond just one-off commercials of A-list actors hawking products they’ve potentially never tried. The type of talent that commands consumer attention is changing, as is the level of involvement celebs are seeking in a business.
Enter Parallel, a creative partnership studio and strategic investment firm, which unites those two interests by brokering partnerships between creative talent and brands. The company was co-founded by Ken Kao, co-founder of Waypoint Entertainment, a production company behind films like The Favourite, and film producer Nic Gonda, while partner Jocelyn Florence previously led the branded content team at Quartz. Together, they act as a “bridge” between entertainment and entrepreneurship, Florence said.
The company earlier this summer helped low-sugar candy brand Behave bring in actor Busy Phillips as an investor and advisor. It has also brokered a partnership with hydration brand Cure and creator Caitlin Murray, produced content for the Venus Williams-co-founded protein drink brand Happy Viking, and also invested in ready-to-eat meal brand Proper Good and non-alc beverage brand HOP WTR.
“We can kind of speak the language of entertainment, and we can also understand what founders or startup teams are going through, because we’ve all kind of spent both time on both sides of that,” Florence told Retail Brew.
Keep reading here.—EC
|