Kylie Jenner is now the world’s youngest billionaire. Thanks to her beauty empire Kylie Cosmetics, which is reportedly valued at $900 million.
The 21-year-old reality star insists she “didn’t expect” to be so successful when she launched Kylie Cosmetics four years ago. She told 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.”
The brand’s marketing is mostly done through social media- where Kylie announces product launches, previews new items and tells fans which shades she’s wearing each day- to her 175 million-plus fan base across Instagram, Facebook and Twitter and Kylie believes it’s been essential to her success.
She added: “It’s the power of social media. I had such a strong reach before I was able to start anything.”Kylie has overtaken Facebook founder Mark Zuckerberg, who previously held the title of youngest self-made billionaire from the age of 23.
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The make-up mogul signed an exclusive distribution deal in November last year with beauty store chain Ulta to stock her $29 lip kits – a matte liquid lipstick and matching lip liner – into the company’s 1,000-plus stores across 50 states in the US, having previously sold only online or occasionally at pop-up shops.
Following her deal with the beauty company, Kylie Cosmetics sold $54.5 million worth of products in just six weeks, according to estimates from Oppenheimer.
Kylie owns her entire company, which she started in 2015, and employs just seven full-time and five part-time employees, while manufacturing and packaging is outsourced to Seed Beauty and her mum and manager Kris Jenner helps run the brand’s finances and PR.
Kylie Cosmetics’ revenue climbed 9% to an estimated $360 million last year.
However, many have took to Twitter to express that they don’t think she deserves the ‘self-made’ title.
Kylie Jenner is not a “self made billionaire” her family was already worth millions and incredibly famous. All she did was leverage her fame, fortune, and family name. https://t.co/jTxoH0LqwE
— Robbedy (@robbedy) March 5, 2019
Kylie Jenner is a “self made” billionaire, c’mon she’s been privileged before she was out of the womb pic.twitter.com/yyBs2Jdu4p
— Dami 🇳🇬 (@oglildarkskin) March 5, 2019
Haven’t we gone over this?
— Dictionary.com (@Dictionarycom) March 5, 2019
Regardless of what the Internet thinks, we can’t deny that Kylie’s success is commendable.
*sourced from Bang Showbiz