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VIDEOHollywood CEOs: Justin Timberlake
By
Megan Barnett Oct 28, 2009 8:05 am
What goes around comes around in business, too.
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In fact, it appears that just about everything this lady-killer touches turns to gold, with the possible exception of Mike Meyer's flop The Love Guru.
Timberlake hails from Memphis, but today he is pure Hollywood. At 11-years-old, he donned a 10-gallon hat and big silver belt buckle to sing a little bit of country in a losing round on Star Search. In the early '90s, he joined forces with other soon-to-be pop stars Britney Spears and Christina Aguilera, singing and dancing on the variety show the The Mickey Mouse Club. JT's been making the girls swoon ever since -- first with the successful boy band 'N Sync and then with his Grammy-award-winning solo albums Justified and FutureSex/Lovesounds.
But Timberlake evidently doesn't want to be remembered as just another pop star turned collaborator turned actor. He wants to be a businessman.
In recent years, Timberlake has parlayed his charm and international fame into entrepreneurial ventures from clothing to tequila. In 2005, he launched a fashion line called William Rast with his childhood friend from Memphis. Featuring men's and women's styles of tough denim and biker black leather, the line has been aptly described as "Elvis meets Sinatra." What Justin wears -- and sells -- is destined for big business. GQ recently named Timberlake one of the most stylish men in America, calling him "The man who helped bring fedoras -- and sweater vests, and beards, and three-piece suits, and skinny ties -- back."
Timberlake's foray into the restaurant business has been met with a bit less enthusiasm. The pop star is an owner of three restaurants so far, but he's not looking poised to become the next Danny Meyer.
His first restaurant, Chi, a dim-sum restaurant in West Hollywood, opened in 2003 with all-star buzz, but closed in 2006. Hoping to appeal to celebrity-seeking diners on the East coast, Timberlake helped fund the opening of Destino in midtown New York, also in 2006. An Italian restaurant with reasonably priced veal meatballs, spaghetti bolognese, and chicken cacciatore, Destino gets favorable reviews for its Soprano's-like authenticity.
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Photo by Sebastian Willnow/AFP/Getty Images
Perhaps Timberlake will have better star-power in the spirits industry. Earlier this year, he launched his own brand of tequila called 901 in a nod to his old Memphis area code. The New York Daily News recently put the top-shelf tequila to a taste test by three local mixologists. The verdict? Smooth and rich, with "a nice finish." The bartenders expected to hate 901 simply because of its association with Timberlake, but were pleasantly surprised by its quality.
Don't expect Timberlake to hang up his dancing shoes to retire on his tequila earnings anytime soon. Until he's too old to rock his body -- which will hopefully be a long time from now -- JT will keep entertaining girls around the world with the same sparkle and smile that failed to impress the Star Search judges so many years ago.
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No positions in stocks mentioned.
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