Olsens invest online
Mary-Kate and Ashley Olsen hold minority ownership stakes in online retailer BeachMint.
The twin actresses now hold a minority ownership stake as co-chairs in the e-commerce company, which is based in Santa Monica, California. This investment means they have creative and consultative roles in the online retailer after signing as partners and designers for divisions StyleMint, ShoeMint, IntiMint and JewelMint in 2011.
Mary-Kate promises their involvement will help boost the popularity of the business and they hope to make it one of the leading brands of their kind.
"In our expanded roles as co-chairs of the advisory board, Ashley and I will work closely with BeachMint's management team in this strategic phase of growth to establish the Mint brands as the leading online destination for all things fashion," she said in a statement.
The siblings already have their own brands Olsenboye, The Row and Elizabeth and James. Co-founder and chief executive of BeachMint Josh Berman believes their fashion knowledge will help expand their division dedicated to clothing.
"Mary-Kate and Ashley are a natural choice to advise on key business, merchandise and design areas as we further scale our women's fashion divisions. The agreement with Ashley and Mary-Kate is the first of a number of significant partnerships we have had in development for some time now," he added.
"The deals coming to fruition in Q4 will allow us to deliver an even stronger experience for our members in 2014, including broader product assortments, efficiencies in production translating to greater value, new innovative designs and more opportunities for discovery."
Other stars have also collaborated with the website to add their own touches. Actress Rachel Bilson and celebrity stylist Nicole Chavez teamed up with footwear designer Steve Madden to launch their own collection for ShoeMint. Alongside this pop star and actor Justin Timberlake partnered up with his interior designer friend Estee Stanley to create the collection HomeMint.
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