How Kylie Jenner created billion dollar cosmetics empire?
The financial magazine Forbes estimates that Kylie’s worth is estimated at USD 900 million, making her not just the richest member of the Kardashian-Jenner clan but to become the youngest self-made billionaire ever.
Currently, Facebook’s brainchild Mark Zuckerberg is the current record holder of the title, whose worth was estimated at USD1 billion at the age of 23.
“Self-made” is the term Forbes uses to differentiate from those who have inherited their wealth.
Tracing the cosmetics journey of the youngest self-made US billionaire ‘Kylie Jenner’
Most of Jenner’s fortune comes from her cosmetics brand, Kylie Cosmetics. The brand sells lip kits and other makeup accessories.
According to a Forbes estimate, the company is worth USD 800 million. Surprisingly, the youngest member of the Jenner clan owns all of it!
The other 100 million comes from endorsements, tax dividends, and of course, her family’s reality show empire. She’s also the richest Kardashian-Jenner, beating Kim Kardashian West by a whopping USD 550 million.
Kylie launched her first set of own-brand lip kits in November 2015 consisting of a matching set of lipstick and lip liner and has sold more than USD 630 million worth of makeup since including an estimated USD 330 million in 2017.
The first lip kits which retail for USD USD 29—sold out within minutes after going on sale.
Even using a conservative multiple, and applying our standard 20% discount, Forbes values her company, which has since added other cosmetics like eyeshadow and concealer, at nearly USD 800 million.
In 2014, she partnered with Seed Beauty to bring her a namesake lip color line to life. As a celebrity brand, Kylie Cosmetics is no white-label product with a name slapped on the packaging.
Just like her sister Kim’s sex-tape fame, Kylie Cosmetics got started by capitalizing on a scandal.
Kylie Lip Kits relaunched as Kylie Cosmetics on Shopify in February 2016 stocked with 500,000 lip kits in six shades.
Kylie also launched Kyshadows (eye-shadow palettes) and Kyliners (eyeliner, a gel pot, and a brush). Jenner debuted the first Kyliner infused with real gold for her 19th birthday in August.
Thanks to the ever-growing social media, Jenner’s massive and massively loyal following, however, puts her in a class of her own.
From online to offline: A transformation!
Kylie Jenner expanded her Kylie Cosmetics empire by opening seven pop-up stores.
The makeup mogul and reality star partnered with Topshop to bring her Kylie Cosmetics makeup line to stores in Los Angeles, New York, Houston, Chicago, Las Vegas, Atlanta, and Miami.
Recently, Kylie Jenner teased a Kylie Cosmetics vending machine. Jenner wouldn’t be the first beauty brand to have a vending machine. Benefit Cosmetics, Sephora, Huda Beauty, and Chanel Beauty have all had vending machines at one time or another to promote their products.
Jenner is the youngest daughter of Kris and Caitlyn, formerly Olympic gold medalist Bruce. Her sister is supermodel Kendall. Her half-sisters are Kim, Kourtney, and Khloe Kardashian.
Kylie Jenner was just 10 years old when she made her debut on her family’s reality television series ‘Keeping up with the Kardashians’. Aged 17, she trademarked the phrase “Kylie Lip Kits… for the perfect pout.”
With a vast majority of her 110 million-strong Instagram followers, Kylie Cosmetics is an undeniable success story.