Being a celebrity doesn't guarantee success in the business world. Many famous people have tried their hand at entrepreneurship and failed, often due to a lack of business acumen or a misguided sense of their abilities. Here are some examples of failed celebrity businesses:

Ryan Kavanaugh's Relativity Media

Ryan Kavanaugh was once hailed as Hollywood's next big thing for his role in financing and producing successful films like "The Social Network" and "The Fighter." However, his company, Relativity Media, filed for bankruptcy in 2015 after a string of failures, including the box office flop "The Lazarus Effect."

taylorswift/Instagram | Success is stumbling from failure to failure with no loss of enthusiasm

Fashion Cafe - Naomi Campbell, Claudia Schiffer, Elle Macpherson, and Christy Turlington

In the late 1990s, supermodels Naomi Campbell, Claudia Schiffer, Elle Macpherson, and Christy Turlington launched the Fashion Cafe, a chain of restaurants featuring fashion-themed décor and menu items. However, the venture was plagued by mismanagement and legal troubles and closed within a few years.

Nasty Gal - Sophia Amoruso

Sophia Amoruso started Nasty Gal as an eBay store selling vintage clothing, and the company eventually grew into a popular online retailer. However, the company filed for bankruptcy in 2016 after years of mismanagement and controversy, including accusations of workplace discrimination and employee mistreatment.

Kanye West - Yeezy Home

Kanye West is no stranger to entrepreneurship, having founded his Yeezy fashion line, which has become a staple in the industry. However, his foray into home goods was less successful. In 2018, West announced plans to launch a Yeezy Home line, which included furniture, bedding, and other household items. The line has yet to materialize, and it's unclear if it ever will.

Paris Hilton - Paris Hilton Stores

PA Images/ Getty Images | Failure isn't fatal, but failure to change might be

Paris Hilton has tried her hand at numerous business ventures, including a line of handbags, fragrances, and even a stint as a DJ. However, her attempt to launch her chain of retail stores was short-lived. In 2007, Hilton opened a store in Los Angeles, followed by a second location in Saudi Arabia. However, both stores closed within a year due to poor sales.

Justin Bieber - Someday Fragrance

Justin Bieber's debut fragrance, Someday, was a huge success, earning over $3 million in its first three weeks on the market. However, the singer's attempt to follow it up with a second fragrance, Girlfriend, was not as successful. Despite a massive marketing campaign, the fragrance failed to generate the same buzz as its predecessor and was ultimately discontinued.

Lindsay Lohan - Mykonos Nightclub

Lindsay Lohan's short-lived career as a nightclub owner is well documented. In 2018, the actress launched her own nightclub in Mykonos, Greece, hoping to turn it into a popular party destination. However, the venture was plagued with issues, including allegations of unpaid debts and a falling out with her business partner. The nightclub closed after just one season.

R.L. Adams/ Up | Failure is a byproduct of entrepreneurship

Martha Stewart - Martha Stewart Living Omnimedia

Martha Stewart is undoubtedly one of the most successful businesswomen in the entertainment industry, having built a media empire that includes a magazine, a television show, and a line of products sold at major retailers.

However, even she experienced a major setback in 2004 when she was convicted of insider trading and imprisoned for five months. The scandal caused a major blow to her company, Martha Stewart Living Omnimedia, which saw a decline in sales and revenue.