Private equity titans Gordon Brothers Brands LLC and Hilco Consumer Capital LP paid $88.1 million in May to acquire what was left of Polaroid, once the most iconic brand in photography. Now the company is looking to make a splash by signing 23-year old pop icon Lady Gaga to a contract that makes her a spokesperson and creative director.
Gaga, known for her dynamic fashion sense and hits like "Just Dance", "Poker Face", and "Bad Romance", said in a statement that "The Haus of Gaga has been developing prototypes in the vein of fashion/technology/photography innovation -- blending the iconic history of Polaroid and instant film with the digital era -- and we are excited to collaborate on these ventures with the Polaroid brand.
"Lifestyle, music, art, fashion: I am so excited to extend myself behind the scenes as a designer and to -- as my father puts it -- finally, have a real job."
Polaroid Vice President Jon Pollock told The New York Post that Gaga-branded products could account for as much as 30% of Polaroid's business.
Terms of the deal were not disclosed, but Lady Gaga looks like the perfect partner for an iconic but fallen brand like Polaroid: with her rabid cult following, look for all your gay friends to be sporting Lady Gaga Polaroids as soon as the company can roll them out.
Polaroid Face: Can Lady Gaga sell you a camera?