Kylie Jenner Featured on The Cover of FORBES
2018 List of America’s Richest Self-Made Women
A Ranking of the Most Successful Women Entrepreneurs in the Country
Kylie Jenner has built a $900 million cosmetics fortune with virtually no employees or capital. Kylie Cosmetics launched two years ago and has since sold more than $630 million worth of makeup. She has leveraged her mammoth social media following to build a giant business.
“Social media is an amazing platform,” says Jenner. “I have such easy access to my fans and my customers.” Kylie Cosmetics is now worth nearly $800 million and Kylie Jenner owns 100% of the company.
“The most successful women entrepreneurs in the country are increasingly taking advantage of technology including social media to help them launch and grow businesses,” said Luisa Kroll, Forbes’ Assistant Managing Editor, Wealth. “That’s one reason why we’ve seen a notable influx of Instagram-savvy moguls like 20-year-old Kylie Jenner in the ranks of America’s richest self-made women.”
Key quotes from the article:
- Kylie Cosmetics has already generated an estimated $230 million in net profit. And sometime later this year, its owner will likely take a title that Bill Gates and Mark Zuckerberg once held–youngest-ever self-made billionaire, redefining in the process the very nature of “self-made.”
- 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
- “No other influencer has ever gotten to the volume or had the rabid fans and consistency that Kylie has had for the last two and a half years,” adds Padelford, whose Shopify Plus also powers the online stores of Drake, Justin Bieber.
- Would someone buy it? “It could easily be an instant game-changing acquisition for any company on the hunt for a winning brand with a younger customer,” says Tara Simon, senior vice president of merchandising at cosmetics giant Ulta.
Read full article: Kylie Jenner FORBES Cover