The problem with being a store that sells discount goods is that you have to sell five times as many products as anyone else to plug the hole when times are hard. Discount and bargain stores like 99 Cents Only were once popular choices for individuals and families working to a budget, but the introduction of budget lines within mainstream high street stores has reduced the need for their existence. Walmart, in particular, has been taking more of their market share with every passing year.
Behind the scenes, 99 Cents Only has been struggling to stay alive for years, and after 35 years may have exceeded its natural lifespan. Recent overall owners of the company have included Canada Pension Plan, Ares Management, and even an unnamed private family. New CEO Jack Sinclair says the company has begun to turn a profit, but after losing over $70m in 2017 alone, it still has a mountain to climb.
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.