News

Sofia Vergara Adds Huge New Fragrance Deal To $30 Million Empire

Posted March 13, 2014 11:00 pm

Aly Weisman

Despite what some of the characters she plays may suggest, actress Sofia Vergara is a very savvy businesswoman.

Today, the 41-year-old Colombian beauty is expanding her $30 million a year empire to include a fragrance line, simply called "Sofía."

The perfume line's earnings could easily double Vergara's annual earnings.

According to Women's Wear Daily, "Industry sources estimate Sofía by Sofía Vergara would generate $25 million in first-year revenues. The fragrance is priced at $55 for a 100-ml. version and $48 for a 50-ml. version. A 200-ml. Body Shimmer is $30."

Vergara's bilingual portfolio of endorsement deals already includes a clothing line at Kmart and spokeswoman positions for Diet Pepsi, Covergirl, Rooms To Go, Comcast, Head & Shoulders, State Farm insurance, thyroid medicine Synthroid, and more.

Combined with her "Modern Family" paycheck, Vergara's annual $30 million earned her the top spot on Forbes' list of Highest-Paid TV Actresses of 2013, for the second year in a row.

Vergara acknowledged she could have signed a scent deal much earlier, but waited for something where she could "maintain creative control over her fragrance franchise," which launches April 24 on the Home Shopping Network.

"I usually don't like getting into things where I don't have a say," Vergara explains to Women's Wear Daily. "I just don't want to give them my name and say, 'Do whatever you want.' I am trying to create my brand. I have my clothing line, the makeup, the hair, the furniture, and this was something that really rounds out my brand."

HSN will have an exclusive on the fragrance in the U.S. through July, and it will branch out to "upper moderate" U.S. department stores in time for the holiday shopping season.

Vergara notes that she wanted to continue building out her brand and accumulating more "Modern Family" fans before hawking her Colombia-inspired perfume to the masses.

"I don't think I would have ever been able to achieve the things in my brand that I wanted to do [without the show]," says Vergara. "Because of 'Modern Family,' I became a household name in the American market. Kids come up to me, grandmothers, mothers, grandfathers. It opened all the doors for me to do the things that I wanted to do," she said.

And the actress' social media reach doesn't hurt, either.

Vergara currently boasts nearly 6 million Twitter followers, over 1.4 million followers on Instagram, and 5 million "likes" on Facebook.

As for whether her brand could one day reach $1 billion in sales, she tells WWD, "It's not what I'm thinking about right now. I've done all the things I've wanted to do, and [further extensions] have to be something organic. I don't want to force it."

But that doesn't mean that Vergara isn't being proactive when it comes to her financial profile.

"I'm not ashamed to say I love making money," the actress admitted to Glam Belleza Latina magazine in December. "I like business, and the truth is I save way more than I spend. I invest. I plan for the future. I have a special eye for opportunities and work harder than anyone might expect. It is fun to shock people with my business ideas. Most people just see me as [her 'Modern Family' character] Gloria."

Vergara says that she has even capitalized on people's misconceptions about her.

"I think that the concept of being sexy and smart is difficult for many to grasp," she added. "Most people are more comfortable with the notion of 'sexy bimbo.' And I have to admit that I've capitalized on that to negotiate a couple of times, when the 'smart ones' think I have no idea what I can deliver, and I end up costing them more."

See Also:

<ul><li>Frank Ocean Tells Chipotle To 'F--- OFF' Over $212,500 Commission</li><li>Sheryl Sandberg Enlisted Beyoncé For A 'Lean In' Commercial</li><li>How The New 'Divergent' Star's Salary Stacks Up Against Jennifer Lawrence's 'Hunger Games' Payday</li></ul>

Article Categories
Business News