5 Things To Know About Kylie Jenner’s Billion Dollar Make Up Brand
We know you are trying to make up your mind. Whether to read yet another article about Kylie Jenner or not. But here’s the thing: when we say we have curated some fun factoids for you, we aren’t just paying lip service. After all, we don’t believe in cosmetic listicles. So, sit back and find out how Kylie Jenner’s Kylie Cosmetics became a billion dollar brand.
1. Kylie Jenner is just 21, and the youngest ‘self made’ billionaire ever. Yes, she even beat apna Mark, matlab Mark Zuckerberg!
And all this, in just four years. Yes, Kylie Cosmetics was launched only in November 2015.
2. According to Forbes, Kylie owns all of the stakes at Kylie Cosmetics. Yep, who’s the boss now, huh?
3. Even though Kylie Cosmetics is worth $1 billion, Kylie’s staff has just seven full-time and five part-time employees. Guess you were talking about lean startups, huh, Mr. Eric Ries?
4. Kylie is a big believer in outsourcing stuff. After all, why bother yourself with something when someone else can take care of it.
And so, she has outsourced the manufacturing and packaging for her brand to Seed Beauty, a private producer in California. Even the sales is outsourced to Shopify, an online platform.
5. Huh, them managers right? How prickly it must be, to part a certain percentage of your net worth to someone who is not even from the family?
So instead of hiring an outside manager and parting her hard money to them, Kylie has hired her mom, Kris, often termed as one of the shrewdest momagers in all of Hollywood, to take care of Kylie Cosmetics’ finance and PR.
In return, Kylie gets 10% management fee in return. Mother of all deals when you have a billionaire daughter right!