Why do celebrity chefs endorse products?

It is lucrative. It extends their brand to more products without them having to invest in creating a new product. It solidifies their brand –what they stand for– and introduces that brand to new customers.

Todd English is going to be promoting Chilean Olive Oil.

Does that make sense?

His flagship (recently reopened) is named Olives – so olive oil is right up his alley. Though Olives is an Italian inspired restaurant, not South American or Latin – but Chilean olive oil is meant to be used in any cuisine – not just Latin American.

It certainly will make him some money (though no one is saying how much).
It will increase his media exposure, and introduce his brand to (potentially) a new audience. According to the press release:

Chef English, a four-time James Beard Award winner, will feature specially created recipes using Chile Olive Oil and feature them at the media dinners and on ChileOliveOil.com. The first two dinners will be held in June at the grand re-openings of Chef English’s Olives restaurants in New York and Boston; a third will be in July in Miami. At the dinners and online, he will focus on showing how using quality oil like the extra virgins from Chile can enhance the flavor of many dishes – from appetizers to entrees to desserts.

Since Todd English’s reputation and brand are based on his looks and sex appeal as well as his food – the “How Virgin is Your Extra Virgin?” campaign will probably play up both parts of his brand.

This deal makes sense for Todd and for Chilean Olive Oil.