Where does the fortune of Kylie Jenner come from?
Kylie Jenner is an American media personality. She has starred in the E! reality television series “Keeping Up with the Kardashians” since 2007 and is the founder and owner of cosmetic company Kylie Cosmetics. At age 14 in 2012, she collaborated with the clothing brand PacSun, along with her sister Kendall, and created a line of clothing, “Kendall & Kylie”. Then in 2015, Jenner launched her own cosmetics line called Kylie Lip Kits, the predecessor of Kylie Cosmetics. She also released a mobile app that reached number one on the iTunes App Store. According to Forbes magazine, Jenner’s net worth is estimated at 1 billion U.S. dollars, making her, at age 21, the world’s youngest billionaire. She also was credited for being the most influential celebrity in the fashion industry by the New York Post in November 2018.
How did the Jenner family business develop?
In August 2015, Jenner announced that she would be launching her first lipstick line as a part of her self-titled lip kit under the name Kylie Lip Kit. Just one month later, her own personal website and mobile app was launched. In February 2016, Jenner’s cosmetic company was renamed to Kylie Cosmetics and the number of kits produced rose from an initial 15,000 to 500,000 due to her being featured in many TV shows and music videos of famous singers. In 2018, the company has reportedly sold about $630 million worth of makeup. In 2019, Jenner founded her own skincare brand Kylie Skin which was launched on May 22, 2019. The brand began producing dermis products, including face washes, scrubs, moisturizers and makeup removing wipes. In September, Jenner announced that she’s serving as the makeup artistic director for Balmain’s Spring 2020 runway show at Paris Fashion Week. In November of 2019, Jenner sold a 51% stake in Kylie Cosmetics for $600 million to Coty. That price suggests a company valuation of $1.2 billion.
Is there a Kylie Jenner family office?
Due to her being relatively new to the “investment and billionaire world”, it’s not known if there’s a Kylie Jenner single family office (yet). But we will provide updates in the future, if she’s going to establish a single family office for her personal and investment needs.
How does the Jenner family office invest?
As stated before, there’s no Kylie Jenner family office yet. But due to the recent sale of a 51% stake in Kyle Cosmetics she’s now able to spend 600 million U.S. dollars, which increases the ability that she may establishes a single family office in the future or makes at least some investments.
Picture source: Diana Ruseva