Bethenny Frankel is determined to have Skinnygirl take over the world. The Real Housewives Of New York star brags that she’s a businesswoman, not a reality star, however she won’t hesitate to slavishly use reality TV to promote her never-ending barrage of products. The latest Skinnygirl offering? Candy.
We’ll talk about Skinnygirl candy a bit later – first let’s talk about Real Housewives Of New York and Bethenny’s legal wranglings with Sonja Morgan! You know – our version of candy.
As for the Bravo influence on her business success, Bethenny dismisses it. “To be honest, at this point it has not as much as you’d imagine to do with being on television.” If that is the case, then why was 3/4 of last season’s RHONY dedicated to Skinnygirl shill? Moving on…
The Real Housewives of New York City’sSonja Morgan reportedly took a powder to luxuriate at the Canyon Ranch Health Resort & Luxury Spa in Lenox, Mass. to escape the shade that was aimed at her from one pretty miffed castmate Bethenny Frankel. It seems Bethenny, who created her $100 million Skinnygirl low-calorie cocktail line will have some unwelcome competition from Sonja, who has her Tipsy Girl booze line practically ready to roll.
The caflama-filled situation involving the two women has now spilled over from real life to the small screen. It seems Bethenny has arranged a Mexico trip and the adventure will, of course, be fodder for the Bravo reality series. However, Sonja is reportedly fretting that her invite for the trip will mysteriously get lost in the mail. And the invite just might never reach Sonja’s hands.
Is everyone’s favorite Skinnygirl a pot head – or just a savvy businesswoman?! Bethenny Frankel has conquered the alcohol industry and now rumor has it she is branching out into another famous vice: marijuana!
Last month the Real Housewives Of New York star was snapped coming out Green Dragon Dispensary in Aspen, CO – which is a premium retailer of marijuana and accompanying paraphernalia – and considered a pioneer in the legal pot world. Bethenny later tweeted that she couldn’t believe it was legal.
Bethenny Frankel‘s weight is constantly a topic of conversation and has come under-fire for her weight yet again! After bikini photos of Bethenny and new boyfriend boyfriend Michael Cerussi surfaced many fans, again, complained that the reality star is too thin.
Last year Bethenny faced controversy when she instagrammed a photograph of herself squeezing into 4-year-old daughter Bryn’s PJs. Even Bethenny and Jason Hoppy‘s family court judge chastised her for the stunt which the judge felt sent a bad message to Bethenny’s daughter and fans.
Bethenny is now defending herself against critics and reminding everyone that she does have a brand about being a Skinnygirl to be the living, breathing embodiment of!
Despite the lawsuits, controversies and negative media attention from the last year, reality mogul Bethenny Frankel has been named to The Hollywood Reporter’s Women in Entertainment 2011: Power 100 list. Bethenny landed at spot number 100, but hey it’s better than nothing, right?
“Not too long ago, I didn’t have anything at all,” Bethenny recounts to THR. “It’s been abrupt: fame, marriage, baby, success.” As her reality show wraps filming for its third season, Bethenny has no plans of slowing down – she has gag orders to issue and fake dramas to reproduce, y’all! Perhaps the skinnygirl should slow it down as she recently claimed she is so busy she forgets to eat!
“I have a couple things on the fire, probably three or four, including a few project possibilities with Bravo. We’ve been great partners,” she reveals, adding that her first novelSkinny Dipping will be in stores in May 2012.
Despite her talk show not getting picked up, Bethenny is not daunted as she has other development deals in process and even hints that she may make her life story into a movie! “I’ve been approached,” she shares, “but you have to make the right choices. I’m not going to force anything.” Oh sweet lemonaide, that is just too much!
Moving on, the Bethenny Ever After star will stop at nothing to indoctrinate the public with Skinnygirl and force upon us a new product pretty much every day. We’ve been shape weared, and cleansed inside out, and boozed up, and skin cared and snackbar-ed, and now dressed.
For those of you who are tired of the Bravo Home Shopping Network (a.k.a. all of their shows), I have some unfortunate news: Skinnygirl now produces “loungewear.” Oh, yuck yay! Bethenny announced the addition of the newest products on her website. The collection of Skinnygirl garments features yoga pants, a tank and a t-shirt — all emblazoned with her logo, of course! Bethenny advertised that the collection is “perfect to workout in, run errands in, or simply relax in.”
Cafemom reviewed the products and wonders just what kind of woman wants pants with Skinnygirl on the thigh? Their assessment: “Bethenny’s made some awesome products in her day, but this line of clothes misses the mark big time. Because the last thing I want people reading on my clothes is Skinnygirl. I feel like it’s just begging for judgment.”
“Maybe she [Bethenny] wants her clothes to shame us into living the Skinnygirl life,” the reviewer wonders. “But I want my clothes to make me feel good, not guilty, don’t you?” Perhaps the reviewer is biased, but she has a point. If I want clothes that make me feel guilty, I’ll put on my pre-baby leather pants. A photo of the Skinnygirl Loungewear collection is below.
[Photo Credit: INFphotos]
ARE YOU IMPRESSED WITH BETHENNY’S LATEST ACHIEVEMENT? WOULD YOU PURCHASE SKINNYGIRL LOUNGE WEAR? WOULD YOU WATCH A MOVIE ABOUT BETHENNY’S LIFE?
Days after the Huffington Post reportedBethenny Frankelonly received $8.1 million for the sale of her Skinnygirl drink line, and not the widely reported $120 million, both Bethenny and Forbes are now firing back!
First Forbes is stating they stand by the $100 million figure. If you recall, the Bethenny Ever Afterstar graced the cover of Forbes back in May during which they declared she sold the drink line for $100 mil — $20 mil less than the amount originally reported by The Hollywood Reporter.
So what exactly was the $8.1 mil figure about? Well according to a financial analyst, the $8.1 million is merely the value of the goodwill attributed to the brand.
“The $8.1 million was just the amount of intangible assets purchased in the Skinnygirl transaction, essentially the amount Beam paid for the Skinnygirl brand rights—not the total purchase price,” saidanalyst R.J. Hottovy to Forbes.
So how did Huffington Post’s Rob Shuter get it wrong? Well for starters the actual price Beam paid for Skinnygirl is missing from the 10-Q statement and Bethenny cannot publicly disclose the amount due to a confidential agreement. Beam is also refusing to disclose the amount and they can actually get away with doing that under accounting rules.
“We will continue to disclose accounting data as required to be included in financial filings,” said Beam Global spokeswoman Paula Erickson, “but do not expect that a black-and-white lump sum ‘purchase price’ figure will be made available. Suffice to say, this was not an $8.1 million acquisition.”
So the BIG question now is how much did Bethenny really receive for the sale of her drink line? According to Forbes, that figure is at least $39 million. See Beam listed $39 million in their financial disclosures for acquisitions made in the second quarter of 2011. And as financial analyst R.J. points out, the only acquisition the company made during that period was for the Skinnygirl Drinkline.
“The only deal they announced over that period was Skinnygirl,” said R.J. “This means [Beam] paid at least that much for Skinnygirl [during that period].” He goes on to add that there may be additional elements to the deal not accounted for or visible in company filings, including stock options that could yield Bethenny additional long-term returns.
In addition to the $39 million Bethenny likely received upfront, she also stands to earn up to an additional $25 million. The company’s financial statement revealed “the Company may be required to record contingent consideration in an amount not in excess of approximately $25 million.” That basically means Bethenny stands to earn up to an additional $25 million based on future sales, incentives, meeting high targets etc.
Bethenny herself confirmed this to Forbes stating she’d get “on-going back end”—payments based on how well Skinnygirl’s cocktails sold after Beam took control. Experts say Bethenny should be getting that $25 million as “sales of Skinnygirl have exceeded expectations for 2011 and that threshold will be met this year.”
According to Forbes, this brings “the value of the deal to at least $64 million in this year alone, without accounting for any further payments or other compensation for Frankel.” Bethenny adds, “The acquisition was structured with various potential payout levels based on sales of Skinnygirl products.”
Bethenny of course also fired back at critics. When asked about the reported $8.1 million figure, Bethenny said laughing: “Come on. That it could be the fastest growing booze brand on the market and have sold for that little is just preposterous… I’m going to be paying a hell of a lot more than $8.1 million in taxes.”
As for the Huffington Post, they have since retracted their original errornous report stating they “regret” it.
However, some things are still not adding up. For example, where did the $100 million figure come from? It appears Forbes can only put a $64 million figure on the deal and cannot account for the remaining $36 million. Yes, it’s clear Bethenny potentially stands to earn more, according to her, but it would have been nice if Forbes could further explain how exactly they were able to put a $36 mil figure on that potential income.
Other things that make you scratch your head is the fact that immediately following the Huffington Post’s report, Bethenny quickly removed the Forbes $100 million cover story from her website. Why remove the article if it’s accurate?
Also more odd, Forbes released the statement below to the Huffington Post before they ultimately decided to back Bethenny and themselves on the issue –
“We’re taking this very seriously. We based our numbers at the time of reporting on solid sources. We’re aware of the new information and we’re looking into it right now,” Dan Bigman, Forbes executive editor stated. “We’re going to review all the information thoroughly and talk to Ms. Frankel before taking any steps. If there are any inaccuracies, we’ll correct them. If clarification is required, we’ll do so.”
As for Bethenny, she also tweeted: “Most people are morons. Stay tuned.” She later added, “Only listen to sources you trust. Irresponsible journalism is a waste of your time.” Bethenny also changed her Twitter profile picture to her Forbes cover. That cover is below.
Must say Bethenny should be giving thanks that this Huffington Post report came out just in time to distract the public from Lost-at-sea-gate!
Photo credit: Roger Wong/INFEvents.com
TELL US – THOUGHTS ON THE LATEST? SOMETHING FISHY ABOUT THE $100 MILLION FIGURE OR MUCH ADO ABOUT NOTHING?
They say when it rains, it pours and unfortunately for Bethenny Frankelit continues to storm.
Just days after the towboat operator who “rescued” her publicly stated she faked the whole ordeal for her reality show, a new report by the Huffington Post is now stating Bethenny did not receive the widely reported$120 million for the sale of her Skinnygirl drink line earlier this year. Just how much did she earn? $8.1 million — a far cry from the reported amount.
The Huffington Post uncovered the SEC quarterly financial disclosures posted on Fortune Brands’ (the company Bethenny sold her line to) website yesterday which revealed the acquisition of the Skinnygirl cocktail business was for $8.1 million. The statement read, “…the acquisition of the Skinnygirl ready-to-drink cocktail business ($8.1 million).” Below is another excerpt from the disclosures –
“In March 2011, we acquired the Skinnygirl ready-to-drink cocktail business. The acquisition included inventory and identifiable intangible assets. In addition to goodwill, we recorded contingent consideration, which is based on the achievement of certain sales targets. In future periods, the Company may be required to record contingent consideration in an amount not in excess of approximately $25 million. Any change in the Company’s estimated liabilities for contingent consideration will impact operating income in future periods.”
To sum this up, Bethenny received $8.1 million upfront and stands to earn up to an additional $25 million based on future sales, incentives, meeting high targets etc. W.O.W.Z.E.R.S. That puts the full possible sum of the sale at $33.1 million. While still definitely impressive — it is definitely a far cry from the reported $120 million.
Ramona Singer expressed her doubts about that amount back in May citing the amount was likely closer to $30 million. Who would have thought Ramona had it right? “I was thinking before that figure came out she got about $30 million total,” Ramona said. “And divided that between her and her partners David, and usually they do a pay out, they don’t give you the money up front, they pay you out over time.”
In Bethenny’s defense, she has never confirmed that $120 mil amount, but then again she never denied it. I guess the question now is should she have spoken up and publicly stated the number was way off? It will be interesting to see how Bethenny responds to this. She has yet to comment on this latest finding.
Moving on to Bethenny’s other dilemma aka Lost-at-sea-gate. The original story by Bethenny, star of Bethenny Ever After, was that she alongside her husband Jason Hoppy, her therapist and a Bravo camera crew were lost at sea for over 20 hours after their GPS malfunctioned.
Bethenny first gave an interview to E! News recounting the ordeal which she described as “traumatic.” And then during an appearance on The Ellen Show, she told host Ellen DeGeneres that she tipped tow boat operatorTim Russell$2,800 for safely returning her to shore.
Right away, some questioned the authenticity of Bethenny’s story which led the Jewish Journal to find Tim and interview him about what really happened. Tim had some very harsh words to say about Bethenny as he revealed she was never in any real danger while insisting that the navigation system was working when he received the call. Tim also added he was only called to help after the Coast Guard refused due to the lack of danger. To top it off, Tim said he never received the $2,800 tip from Bethenny.
Wowzers. Bethenny is now firing back in an attempt to defend herself. She is still sticking to her story as she tells E! News she was indeed lost at sea.
“Fiction? For some reason the craziest things just happen to happen to me,” she tells E!. “Not many people have an iguana poop in their suite on their honeymoon or their baby nurse attempt to baptize their child.”
“I wish that boat trip were fiction rather than the nightmare it actually was,” added Bethenny. “My truth is stranger than fiction.”
Bethenny also made the following tweets: “I will ALWAYS be honest with my fans. I know you know that!” She added: “Let’s review last week’s idiocies 1)I have a”nice”coach 2)I’m getting divorced 3)I’m pregnant 4)I lied re:being lost at sea Anything else?”
For someone as brash and honest as Bethenny, I was expecting a better defense of herself especially if someone is falsely accusing her of lying. I personally feel she should have answered the tough questions such as did she really tip Tim $2,800? And why would Tim come out and state her story was fake? I can’t imagine a man who was tipped $2,800 woould publicly state that he wasn’t.
Photo credit: WENN
TELL US – THOUGHTS ON THE LATEST? SHOULD BETHENNY HAVE SPOKEN UP ABOUT THE REPORTED $120 MILLION SALE AMOUNT? DO YOU BELIEVE BETHENNY OR TIM?