The Fashion industry has received a bit of a shake up, following the announcement that Angelina Jolie will be the new face of St John Knits. Not so much because she will be heading the campaign but more so as the deal, negotiated on her behalf is quite unheard of and sets a new precedent for actresses who are hired to boost a brands appeal.
There is much speculation from advertising execs over exactly what her contract terms are but it is thought that Jolie will receive $12M for a multiyear agreement, a stake in the company, a seat on its board and contributions made by St Johns to Angelina’s charities. If this is accurate then it is very likely that other actresses such as Uma Thurman (Louis Vuitton) and Demi Moore (Versace) will demand much more in the future? But are their demands warranted?