|Kylie Jenner is named the youngest self-made billionaire for her work with Kylie Cosmetics, and although that title is disputed by many who would argue that her being a part of the Kardashian-Jenner clan already gives her a leg up on the competition / Photo by: Walt Disney Television via Flickr|
Kylie Jenner is named the youngest self-made billionaire for her work with Kylie Cosmetics, and although that title is disputed by many who would argue that her being a part of the Kardashian-Jenner clan already gives her a leg up on the competition, the fact remains that her company has noticeably grown so well since its beginnings in 2015.
Of course because of her constantly being in the public eye thanks to her reality show with her sisters, Kylie’s name alone is what got people consuming her products. But for all the launches and breakthroughs her company has had, Kylie says she is still thankful for one person for the success of her company, and it’s none other than her mother, Kris Jenner.
Kris Jenner’s Influence
According to showbiz news site Cheat Sheet, Kylie thanks her mother for her “savvy and extraordinary marketing and PR skills.” Kylie said that her mother was the biggest inspiration because she was inspired by her creativity and business mind. This much is true, considering Kris has always been in the background constantly supporting her children.
And Kris herself is thankful that she can naturally enter this role in her children’s lives, especially when Kylie found that she also wanted to enter the business world with her cosmetic company, which turned out to be incredibly successful.
Kris credits her work with her ex-husband as the biggest source of her success. She shares:
“When I first went into the business world it was probably 1990. I was working with Bruce and helping him with his speaking career and it really opened a lot of doors for me out of necessity. I needed to work and I needed to do something that was good for the family, so that’s exactly what I did. As the years went on and my kids started getting older it just seemed like a natural next step to work with my kids. It started with the older girls and, as Kylie grew up and discovered her true gift in the beauty world, it was such a joy to work side-by-side doing something really fun.”
Growing the Business
Kris may be working with her closely but for all the judgment that gets thrown her way for her already privileged position before even starting her company, there is no denying that what Kylie has managed to accomplish at her age is quite impressive.
She was 20 when the Forbes special feature about her was written, and even before she managed to grow Kylie Cosmetics from lip kits to concealers to skin care products, she had already seen that there was an opportunity for her in this industry.
So from $29 lip kits, with lipsticks and lip liners which made her millions ever since, she has now sold nearly $800 million worth of cosmetics products. Her brand deals with other companies have also added to her wealth, as Forbes lists both her Puma collaboration and her PacSun clothing collaboration.
During the first days of her brand, Cheat Sheet reports that she already made quite the money in the first six weeks, selling out $54.5 million worth of products on Ulta.
These days, Kylie is worth $900 million at the age of 21, beating out Facebook founder Mark Zuckerberg as the youngest billionaire. Kylie said it’s not about the money, and that in the first place, she didn’t even believe she’d get this far.
“I just knew my talents and was passionate about make-up and lips and lipsticks. It’s been a real love of mine for as long as I can remember. I never even knew that you can really turn your passion into a business, you know. I just followed my heart and went with how I felt. Now I just feel so blessed every day to wake up, have fun doing what I love and make a career out of it. It’s amazing.”
|So from $29 lip kits, with lipsticks and lip liners which made her millions ever since, she has now sold nearly $800 million worth of cosmetics products. Her brand deals with other companies have also added to her wealth / Photo by: Mike Mozart via Flickr|
The Help of Social Media
Because of her near-constant presence in social media, and her consistent promotion of her products on Instagram, she has also achieved the title of being the ultimate influencer. It’s also because of her connection with her sisters, who are each well-known, that she was able to grow her fanbase to the size it is now.
She’s still the biggest moneymaker of her company, having more followers than any of her company’s social media accounts. It truly is the name that people pay for. Even more impressively, though Kylie Cosmetics only began about four years ago, the Instagram following of the company has already climbed to 22.6 million, just a million short of MAC cosmetics, a veteran in the beauty industry with its 23.2 million.
And all Kylie has to do to reach sky-high numbers on sale is to always be in everyone’s sights, which is not that hard considering she never fails to actively promote her products or hype them up, depending on whether she has already released them or is about to do so.
Not to mention Instagram stories have a 400 million-strong active user base, which has only been steadily growing. In 2017, there were only 250 million active users.