If you have stalked her enough on Social Media, you would have expected neon colored wig, gold rush highlighter and a bright shade of red as the lipstick but when she posed for the cover of Forbes as ‘Youngest Self Made Billionaire.’
She was in a simple bun, nude makeup, and a black pantsuit — The confidence with which she posed- I could feel and probably one day she will head global domination.
Kylie Jenner on Forbes CoverKylie Jenner- Before you go ahead and call her just another Kardashian who is doing everything to gain attention, this is a little different. Let’s keep her early pregnancy, her lip fillers, etc.. in the back seat and solely concentrate on business she created.First of all, When I (or Forbes) say she is self-made- We are not talking about heredity glam she gets from her sisters and mom but rather how she is ‘Self-Made’ businesswoman.
It is difficult to have a brand and is more difficult to leverage and turn into a million (close to billion dollars) venture. Kylie was born into wealth and used that wealth to strengthen her business. With the backing of her hereditary fame, Kylie’s billionaire status was practically genetic.She recently faced a lot of backlashes saying she is not worthy of that title, she is not a good role model, she got lip injections done, she photoshopped her pictures, she got pregnant very young- Any of these things have anything to do with her business? Nope. But people say what they want to say.
For people who don’t know Kylie Cosmetics started with 29$ Lip kit back in 2015 and in almost 18 Months the sales jumped up to 420$ Million dollars, She 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 at $800 million.
Why I’m against her celebrity status being behind her success? Because a lot of celebrities in the past have tried doing the same but have failed, she managed to sold-out her lipsticks in a minute.The Kylie Cosmetics brand is on track to reach a billion dollars in sales — making it a real beauty biz unicorn — by 2022. To provide a little context, L’Oreal-owned brand Lancome hit the billion dollar mark in 2015, after 80 years in existence.
(Via Fortune.com )
Constructing an empire with the help of your family is something which is entirely reasonable. You cannot criticize someone from asking their family to help, and you think your family wouldn’t have? A supportive family can help you with a mile or two, but the journey is yours. I can give you 100 Million dollars, but it’s your job to waste it or turn it into a billion dollar venture. Also, She owns 100% of her company (IT IS A BIG DEAL- EVERY ENTREPRENEUR DREAMS OF IT!)
Whether you love or hate her, what she’s doing, it’s an interesting phenomenon to observe. And at the end of the day, she sold her make up line by leveraging her social media (over 200 Million followers distributed over multiple platforms). There might even be a few takeaways you can apply to your next marketing campaign.