Love her or hate her – Kylie Jenner has reached yet another milestone and at only 21-years old, Forbes has announced Kylie is the world’s youngest ‘self-made’ billionaire.  Kylie tells Forbes, “I didn’t expect anything. I did not foresee the future.  But [the recognition] feels really good. That’s a nice pat on the back.”

 

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As Forbes explains, “The beauty of Kylie Cosmetics, which Jenner started in 2015, is its minuscule overhead—and the outsize profits that go straight into Jenner’s pocket. Her empire consists of just seven full-time and five part-time employees.  Her shrewd mother, Kris, takes care of finance and PR in exchange for the 10% management fee she siphons from all of her kids. Marketing is done mostly through social media, where Jenner has a massive following. She announces product launches, previews new items and announces the Kylie Cosmetics shades she’s wearing directly to the 175 million-plus who follow her across Snapchat, Instagram, Facebook and Twitter.”  Kylie says, “It’s the power of social media.  I had such a strong reach before I was able to start anything.”

 

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The article is part of Forbes’ ‘The Billionaires 2019’ issue and in detail, describes how Kylie made ‘Kylie Cosmetics’ a huge success.  “It went from essentially zero to $307 million in sales within a year of launching but managed only single-digit growth in 2017 and 2018.  That’s despite adding 30 new products in 2017, including concealer and makeup brushes, and many more colour combinations in 2018,” Forbes estimates.

 

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And in conclusion, Kylie says, “I see [Kylie Cosmetics] going very far. I work really hard.”

 

https://www.instagram.com/p/BtBuf3CHq2U/

 

To read the full article on Kylie Jenner, click here.

Filed under: forbes, Kylie Jenner