As of this week, Kylie Jenner has added one more title to her portfolio – the world’s youngest ‘self-made’ billionaire. Although Forbes had implied this before, we’re still pleasantly surprised and proud of the 21-year-old billionaire.
Makeup mogul, reality tv star, mum and now – billionaire, Kylie Jenner is the sole owner of Kylie Cosmetics, its CEO and also its chief marketing officer. With a ‘branding genius’ mum as her chief financial officer and manager, Kylie didn’t have to seek funding for her business from outside, as her mum had been booking sponsorship deals for her since.
Forbes estimates that her company went from essentially zero to $307 million in sales within a year of launching but made a single-digit growth in 2017 and 2018. Her staffing consists of only seven full-time and five part-time employees, while the manufacturing, packaging and sales are outsourced.
With the power of social media, marketing started and has been going on mostly through her millions of followers across Snapchat, Instagram, Facebook and Twitter. She previews new items, announces product launches, and advertises her products across her social media handles.
According to Forbes, for now, Kylie Jenner is focused on expanding her product range to include a setting powder, and bringing eyeshadows, powders and bronzers to Ulta. “I see (Kylie Cosmetics) going very far,” Jenner says. “I work really hard.”
As the first selfie ‘self-made’ billionaire and knowing the power of social media marketing, we believe that whatever happens next, we would most likely find it on Kylie Jenner’s social media handles.
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Featured Image: Instagram/KylieJenner