12.8 C
New York
Wednesday, October 27, 2021

Buy now

the businesses behind his ‘controversial’ fortune




“I can name a list of 100 things that are more important right now than looking at how much money I have.” These were the words that he wrote Kylie jenner in their networks a little over a year ago, when Forbes published a report revealing that the heritage of the smallest of the Kardashian he was not as tall as she had said herself. Of such a statement, one might think, suddenly, that it is only said by someone whose fortune is so great that he does not need to look at his portfolio and his expenses every week, but be that as it may, of what there is no doubt is that the celebrity 24 years old is, together with his family, a machine to generate money. As a button test: according to the analysis carried out by Hopper HQ, a leading application in social media management, Jenner is the third person who charges the most money for his Instagram posts, only behind Cristiano Ronaldo and Dwayne Johnson. Specifically, it pockets for each post up to 1.26 million euros.

The Empire of the American, who has been named by Time magazine as one of the most influential young women in the world together with his sisters, it is not trivial. In fact, in the last hours he has announced the new business that will see the light next September 28. But before going to the concrete, let’s go to the general and all the controversy that surrounds his heritage. Her first job was on ‘Keeping Up With The Kardashians,’ the family reality show that Jenner started out at just nine years old. Now, is already in its 18th season. As published by various specialized media such as People or Business Insider in 2017, the family’s earnings for each season they amounted to $ 30 million. In 2013, when Jenner was 15 years old, she launched with her sister Kendall, the clothing line: Kendall + Lylie for PacSun. A brand that today is sold in 390 locations in the United States (including Topshop, Amazon or Bloomingdale’s) and 975 worldwide.




The comings and goings of Kylie Cosmetics

But that is not all. It may even be just the tip of the iceberg for Jenner’s empire. And it is that with what he has generated most of his fortune is with his makeup company, Kylie Cosmetics. A business that came out of a somewhat minor scandal: the youngest of the Kardashians spent more than a year denying all the rumors and speculation that she was using lip filler injections, until finally confessing it in May 2015. So far from feeling ashamed after the lies came to light, Kylie and her mother, Kris, they saw a marketing opportunity. With more than 200,000 euros derived from his earnings as a model, sponsorships and series, launched its first batch of 15,000 lip kits, They consisted of a matching lip liner and pencil. The kits, each $ 29, they sold out in less than a minute, “Before I even updated the page,” they explained to Forbes. By the following year, the brand already had dozens of new products and enjoyed a certain reputation in the cosmetics industry.

And it is precisely here where part of the controversy begins and what motivated the words of the celebrity mentioned at the beginning of this article. In 2019, Kylie Jenner sold the 51% of its cosmetics to beauty giant Coty in a deal valued at more than 500 million euros. This operation seemed to confirm what Kylie and her family had been saying for a long time and what Forbes had declared in March 2019, when on a cover it cataloged her as the biggest ‘self-made’ young billionaire.

Until ‘the small print of the contract’ arrived which, as detailed in the magazine specialized in economics and business, “suggested a less flattering truth”. The publicly traded accounts published by Coty revealed that Kylie’s business was significantly smaller and less profitable of what the family had been enacting for the past few years. That Kylie Cosmetics grew from zero to 300 million dollars in sales in just one year, “was hard to believe,” they revealed in Forbes. With this new information, plus the impact of Covid-19 on beauty stocks and consumer spending, Forbes recalculated Kylie’s net worth: first it concluded that she is not a multimillionaire; second, that a more realistic amount would place it at just under $ 900 million, which is not trivial either. More than a third is what he would have made from selling most of his business.

Following the Forbes publication, representatives for Kylie Jenner and her mother Kris contacted the magazine to deny that the tax returns or their income were false. That, while the little one of the Kardashians continues to amass her fortune with new collections. The latest, Kylie Baby, a collection of baby skin care products. The Instagram post in which he advertised it already brings together a whopping 2 million ‘likes’.




HELEN HERNANDEZ
Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Helen@oicanadian.com Phone : +1 281-333-2229

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
2,995FollowersFollow
0SubscribersSubscribe

Latest Articles