Oprah Winfrey has purchased 10% of the Weight Watchers Company. On Monday the producer, actress and former talk show host added to her resume by permitting the slimming giants to use her name and face in advertising their products.
“I believe in the program so much I decided to invest in the company and partner in its evolution.”
The billionaire businesswoman has the option of purchasing another 5% stake in the company. However, she will not be able to sell any shares for two years as a show of faith. Weight Watchers chief executive, Jim Chambers stated that the company is in line with Oprah’s ethics.
“Through our conversations, it became clear that there is a tremendous alignment between Oprah’s intention and our mission. We believe that her remarkable ability to connect and inspire people to realize their full potential is uniquely complementary to our powerful community, extraordinary coaches and proven approach.”
Before the deal was announced, Weight Watchers share prices had fallen by 72%. The Oprah stamp of approval has already seen share prices more than double. The company have also claimed that their future profits could be up to $50 million dollars. In a statement Oprah stated that she was delighted to be able to support people battling with their weight.
“Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for.”