20-year-old Kylie Jenner is on her way to become the world’s youngest billionaire ever!
How? Kylie loves makeup. She used this passion to create her own makeup line called Kylie Cosmetics. She founded her company on Valentine’s Day, 2016. Over the last 2 years, her beauty brand has sold more than $630m (INR 4300 crores) of lipstick, lip liner, lip gloss and makeup! This is more than most of the established makeup companies.
So what is Kylie’s role? Kylie comes up with makeup ideas like colours and product styles that her young consumers would like. So far she has been very good at forecasting consumers’ changing tastes. She is also doing a superb job of driving sales.
She markets her beauty brand through her popular social media accounts. Can you believe she has 111 million followers on Instagram? That’s more than Taylor Swift or Justin Beiber!! Through her loyal and fast-growing following, she has been able to build an incredibly successful beauty brand.
The actual products are manufactured by a company called Seed Beauty. An online company called Shopify, manages the orders – it takes in the sales orders, processes the payments and organises the deliveries.
Why are we talking about her suddenly? She has been featured on a highly reputed international business magazine called Forbes and they estimate her “net worth” to be somewhere close to $900m (INR 6120 crores). That’s almost a BILLION dollars!! Her current net worth is greater than that of rapper Jay Z! Forbes Magazine states that if the beauty brand continues to grow at the rate it has, she will become a billionaire at 21 – even younger than Facebook’s Mark Zuckerberg was when he joined the billionaire club in 2008.
Kylie Jenner comes from a privileged and famous family so the journey hasn’t been that of struggle but she has shown an amazing entrepreneurial flair and we wish her luck!
Written By: Biyash Choksey