Kylie Jenner Built $900 Million Cosmetic Empire In Less Than 3 Years On Social Media
Reality TV show star Kylie Jenner has been named on the Forbes annual list of America’s Richest Self-Made Women.
Jenner has built a massive $900 million cosmetic empire — Kylie Cosmetics — in less than three years, notes Forbes:
Kylie Cosmetics launched two years ago with a $29 “lip kit” consisting of a matching set of lipstick and lip liner, and has sold more than $630 million worth of makeup since, including an estimated $330 million in 2017.
Even using a conservative multiple, and applying our standard 20% discount, Forbes values her company, which has since added other cosmetics like eye shadow and concealer, at nearly $800 million. Jenner owns 100% of it.
Add to that the millions she’s earned from TV programs and endorsing products like Puma shoes and PacSun clothing, and $60 million in estimated after-tax dividends she’s taken from her company, and she’s conservatively worth $900 million, which along with her age makes her the youngest person on the fourth annual ranking of America’s Richest Self-Made Women…
Her near-billion-dollar empire consists of just seven full-time and five part-time employees. Manufacturing and packaging? Outsourced to Seed Beauty, a private-label producer in nearby Oxnard, California.
Sales and fulfillment? Outsourced to the online outlet Shopify. Finance and PR? Her shrewd mother, Kris, handles the actual business stuff, in exchange for the 10% management cut she takes from all her children.
The 20-year-old, who has no marketable skills and only finished high school a couple of years ago, shared the secret of her success with Forbes:
Social media is an amazing platform. I have such easy access to my fans and my customers.
Forbes reports what Jenner’s work day consists of:
Basically, all Jenner does to make all that money is leverage her social media following. Almost hourly, she takes to Instagram and Snapchat, pouting for selfies with captions about which Kylie Cosmetics shades she’s wearing, takes videos of forthcoming products and announces new launches.
Jenner’s next big idea are vending machines full of her lip kits:
You guys, imagine this, but all in lip kits. I think it needs to be a clear vending machine where you see all the colors.