And that means Oprah had already made a profit of more than $50 million on the deal before you’d even finished your morning coffee.Weight Watchers says Oprah Winfrey bought a 10 percent stake in the struggling diet company and joined its board, according to marketplace.org.
Health and weight loss are a big topic for the Oprah media empire and Winfrey personally — the billionaire has publicly struggled with her weight, and she'll bring that history with her to the boardroom at Weight Watchers, which has been grappling with sinking sales as it tries to pivot into a lifestyle brand.
Weight Watchers said it contacted Winfrey initially, and her spokespeople said she's been enrolled in the program for a couple months. But marketing consultant Jonathan Baskin said this isn't a typical celebrity endorsement.
"She's effectively paid them $43 million to go be a spokesperson. I find that absolutely refreshing, because let's face it, how many people actually think Fred Thompson has a reverse home mortgage?" Baskin said.
I believe in the @weightwatchers program so much I decided to invest, join the Board, and partner in #wwfamily evolution.
— Oprah Winfrey (@Oprah) October 19, 2015
Indeed, in her TV show — now an entire channel — magazine and other properties Winfrey has talked a lot about her own weight loss, discussing lots of strategies and partnering with several experts. Branding consultant Denise Lee Yohn said those relationships have been mutually beneficial, more often than not.
"One of the reasons why she's an excellent spokesperson for Weight Watchers is because she's been so vocal and transparent about her weight struggles," Yohn said. "The fact that she has yo-yoed back and forth brings a realness and a humanity to their brand and therefore the effectiveness of their solution."
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