The Kardashians and Jenners are primarily well known for how wealthy they are and the family drama that revolves around with them. After even having their own family reality TV show running since 2007, it seems as if this family just can’t help themselves from being in the spotlight and topping the headlines.
Despite the controversies they invite, it’d be only fair to say that almost every member of the family is immensely progressing in terms of their diverse careers, with the youngest sister of the family, ‘Kylie Jenner’ as the most successful one.
Kylie, with her Kylie Cosmetics career, has beaten her own big sister Kim Kardashian West in terms net worth. She is just north of over $1 billion.
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Kylie Jenner’s Billion Dollar Business
Kylie Cosmetics have been a loved makeup line by teens since its first sell-out after it launched online in November 2015.
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With the iconic Kylie Jenner being the face of the company who, needless to say, brought about a significant revolution in the Makeup world with her HUGE social media fan following.
Girls of all ages worldwide have fallen in love with her brand.
Most of the 22-year-old’s net worth is a result of her company’s sales that only seems to be increasing every year.
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Jenner’s products were only sold online initially up until last year after the brand struck a deal to sell its goods in 1100 Ulta beauty stores. Kylie only seems to be expanding her empire after launching a new branch in her company ‘Kylie Skin’ with a new range of products related to skincare.
And if that wasn’t enough, Kylie Jenner just sold more than half of her iconic company to a fellow brand in the beauty community, CoverGirl owner Coty.
She sold a 51% stakeout in her company, valued at $1.2 billion! Kylie is still the face of the brand and will continue to have a say in terms of bringing about innovation in her products.
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‘Kylie is a modern-day icon,’ said Peter Harf, Coty’s chairman of the board. While Coty has previously hosted other brands such as Max factor and Sally Hansen nail polish that has been around internationally for decades. The Company hopes that the world’s youngest billionaire could only add more value to the business by boosting its sales and connecting to a larger customer base inclusive of shoppers under the 35 age group, which is a niche as traditional makeup brands have struggled to reach.
According to an analyst at Citi Research, Wendy Nicholson, a celebrity-backed company has way too many risks attached, like the possibility that Jenner’s popularity could fade over time. Regardless, she admits that the deal could help Coty flourish and become a ‘faster growth company.’
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Coty stated Monday that Jenner ‘is not a fad,’ and is quite evident and obvious to public eye with the brand’s increasing social media outreach.
In addition to that, Kylie Cosmetics brought in about a whopping $177 million in revenue last year, with the sales hiking up from 40% in the year before that, as per the company.
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‘I’m excited to partner with Coty to continue to reach even more fans of Kylie cosmetics and Kylie skin around the world,’ Kylie Kenner said in a statement.
Let’s hope this deal brings the best out for everyone, including the company’s customer fan base.
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