Confirming that endorsement deals still have cachet in a recession, "Transformers" star Megan Fox is pulling down a seven-figure payday to model Armani underwear and jeans. The 23-year-old will be the new face of Emporio Armani Underwear and Armani Jeans in 2010, the Milan-based fashion house announced Wednesday.
Most endorsement deals pay celebrities from $500,000 to $2 million for an ad campaign that runs a year, and Fox will make toward the high end of the range, a person familiar with the deal told The Associated Press. This person was not authorized to comment publicly and spoke on condition of anonymity.
The actress' publicity team, managers and agents approached Armani several times over the years to build the relationship. She wore Armani outfits at red carpet events and met designer Giorgio Armani at an Armani Prive fashion show in Paris this year.
With Victoria Beckham's contract expiring and "Transformers: Revenge of the Fallen" ballooning past $800 million in worldwide box office, a deal finally clicked. Fox also plays a possessed cheerleader in "Jennifer's Body," which launched in theaters last month.
Overall advertising spending is down, but brands continue to pay for endorsement deals with celebrities, said Carol Goll, head of global branded entertainment for International Creative Management, one of Hollywood's largest talent agencies.
"There's a lot of interest in celebrity spokespeople," Goll said. "We haven't seen a decline in that."
The agency recently also signed major deals for clients Beyonce, with General Mills Inc., and Ellen DeGeneres with Cover Girl.By RYAN NAKASHIMA, AP Business Writer