You may not be familiar with the name 'Ascena Retail', but you will know the brands they represent. They're the umbrella company who are ultimately responsible for Ann Taylor, LOFT, Dress Barn and Lou & Grey, among others. When things are going well, owning several major firms is an excellent position to be in. When one of those brands starts to struggle it can drag on the finances of the others, and before you know it there's a major issue. In this case, Dress Barn is the bad apple, with 25% of all its stores due to close during 2019.
Ascena received $1.7bn in sales revenue during 2017 which sounds like a lot but actually represents a drop compared to the previous year, which was a drop from the year before that. The trend is downward, and action obviously has to be taken. It's expected that closing down the ineffective Dress Barn stores will steady the ship, so here's hoping.
To insure one’s house, one’s car or to underwrite a life insurance policy, that is common practice. But who would pay an insurance premium for his/her thumb, legs or smile? Stars, of course.
At the top of the ranking are the legs of Mariah Carey, worth 810 million USD: The diva became, in 2006, the Gillette brand muse for the advertising campaign «Legs of a Goddess». She then took out an insurance policy with London Lloyds to protect her legs, a decision that is far from being insignificant. Among its customers, the London insurer then included several icons of music, such as Bob Dylan or Rod Stewart.
David Beckham’s body insured for 195 million USD: European champion with Manchester United in 1999, David Beckham was in 2006 the most renowned footballer of the planet. In relation to his sporting activities, he took out an insurance cover for his legs. The huge amount paid for his insurance would reportedly exceed the 103 million USD disbursed by Real Madrid for the cover of Christiano Ronaldo in 2009. The fashion model would later extend his insurance cover to his entire body.
15 million USD in insurance for Kim Kardashian’s curves: The curves of Kim Kardashian are her number one beauty asset. The reality TV star, who is crazy about plastic surgery, has underwritten an insurance policy worth 15 million USD to protect her famous butt.
The culinary critic Egon Ronay assured his taste buds: The famous Hungarian culinary critic has insured his taste buds since 1957, for the amount of 400 000 USD. An original insurance policy which allows him to cover his sense of taste without which he will no longer be able to practice his job.