The Superstar Paradox: When celebrity power doesn’t equal profit

Jamie Oliver’s 2019 restaurant collapse proved the simple truth that fame doesn’t guarantee success.  While celebrity chefs dominate screens and social feeds, most restaurants continue to thrive quietly without them.

In this week’s issue, I consider what economists - Alfred Marshall and Sherwin Rosen – describe as the “superstar effect” — how small differences in talent can lead to vast differences in reward.  Gordon Ramsay and Jamie Oliver embody that theory, with personal fortunes that far exceed the profitability of their restaurants,  Yet across Britain, the most resilient brands, from Greggs to Wagamama and countless independents, succeed through consistency, value, and local trust, not celebrity.

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