How did Kylie Jenner become the youngest "self-made" billionaire?
At 21, Kylie Jenner became the youngest "self-made" billionaire, according to Forbes Magazine. She is the youngest of the five Kardashian-Jenner sisters , if you aren't living under a rock , you might know atleast one of them - Kourtney Kardashian , Kim Kardashian ,Khloe Kardashian , Kendall Jenner and Kylie Jenner.
Now, the question arises- What was the secret sauce to Kylie's billion dollar empire?
The Kardashian-Jenner family rose to fame with their reality show "Keeping up with the Kardashians" , though they already had some amount of fame at that time , the world got to know them through this reality show. The pilot episode of the show released in 2007 and it was watched by millions of people and thus the makers decided to produce the full season. The show basically showcased the lives of the Kardashian Jenner family. Interestingly, we have had about 19 seasons of the show and the final season would release next year and this does not include the "spinoffs".
The show gained popularity over the years and the Kardashian-Jenner family knew how to cash this fame along with the permanent income they were getting from the reality show. They had a huge platform to advertise whatever they wished to. The sisters began expanding their boutique (DASH) to different cities, built their own fragrance lines , apps , websites , started tying up with brands. Currently the family owns a wide range of businesses - from sock lines, clothing lines, fragrances to hot sauce , books , lifestyle websites, makeup lines.
One of such businesses was Kylie's cosmetic line which she called "Kylie cosmetics" which she started in 2014. The net worth of Kylie Cosmetics is around $900 million. Kylie cosmetics gained a lot of popularity initially due to the social media fame Kylie enjoyed - she is one of the most followed people on snapchat and Instagram , she had a famous family and a reality show where she could talk about her product. Adding to this, there was already a lot of buzz around Kylie's lips. There were a ton of articles that talked about her lip fillers , lip surgery or what she was doing to her lips. The influence of these articles was so tremendous that whenever Kylie took a name of a particular brand product she was using on her lips , the product used to get sold out in minutes!
Like a smart businesswoman , she created her own lip kits to cash the opportunity before the buzz died down. Kylie cosmetics was then started in 2014 and the she came up with edgy lip kits and unique shades, Kylie hardly used any other advertising means apart from her social media handles to spread the word and the product still sold like hotcakes.
One of her restocks sold out in about 30 minutes!
In 2019 , 51% of Kylie cosmetics was sold to Coty Inc. for $600 million and she pocketed $540 million out of the deal.
Kylie Jenner also came up with a skincare line called Kylie Skin and even though the skincare line also sold like hotcakes, it had really bad reviews but still her fans continued buying her skincare products.
Other Kardashian-Jenner owned businesses are KKW beauty by Kim Kardashian West , the net worth of KKW beauty is $1 billion , Khloe Kardashian owns Good American - a denim and activewear brand which she started in 2016.The company sold denims worth $1 million on the first day itself. Kourtney Kardashian owns a lifestyle website called "Poosh" , Kim Kardashian also owns a shapewear line called Skims which gained a lot of popularity even before its launch due to controversies surrounding its name. (They earlier called it Kimono.) In the first two minutes of the site going live, Kim Kardashian's Skims made a sale of about $2 million. Rob Kardashian owns a sock line called Arthur George and a hot sauce called "Grandeza" which has been launched recently. Grandeza is co-owned by Kris Jenner.
The list of the Kardashian-Jenner business ventures does not end here. The family actively buys and sells properties, the clan even sells their clothes (which they've already worn) online on the website https://kardashiankloset.com/ which is apparently "the first luxury designer resale site featuring the Kardashian Jenner family’s fabulous and fun clothing" in their own words.
The family surely has a good business sense. What do you think? Let us know in the comments section below!
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