Kylie Jenner’s Company Could Be Worth $1 Billion By 2022
The 20-year-old celebrity sold her first lip kits two years ago.
Kylie Jenner, the youngest of the Kardashian-Jenner clan, took claim over the cosmetics empire two years ago, when she started selling her wildly popular lip kits.
Then in 2016, she launched Kylie Cosmetics, which includes the lip kits, eye shadow palettes, eyeliner and other products, according to Money. Since then, the line has made $420 million in retail sales, according to Kris Jenner, Kylie’s mother and the company’s chief financial officer.
It looks like these sales won’t be slowing down either, even though they are only available online (though Jenner hopes to change that soon). The company is projecting a 25 percent increase in sales this year, earning $386 million in 2017. According to Money, this puts Jenner’s company on track to be worth more than $1 billion by 2022.
The Birthday Collection is back in stock!! Get your favorites before they’re gone! https://t.co/rkT2b8JJL5 ? pic.twitter.com/MwAfpL5Iu2
— KYLIE COSMETICS (@kyliecosmetics) August 4, 2017
For reference, L’Oréal’s Lancôme cosmetics line took 80 years to reach $1 billion in sales, according to the magazine.
Jenner just turned 20 on August 10, but has already inspired her older siblings to follow in her footsteps. Kim Kardashian launched her own contour kits this summer. The first products sold out in under three hours.
Jenner is the youngest celebrity on Forbes rankings of the 100 highest paid celebrities in the world — and still about three and a half years younger than the next person on the list, Justin Beiber. In this last year alone, Jenner earned $41 million, reports Forbes.
All that doesn’t just come from cosmetics. She has several endorsement deals, including one with Puma, and then appears on her family’s reality show Keeping Up With the Kardashians and has her own spin-off series, Life of Kylie.
Jenner shares a clothing line with her high-fashion model sister Kendall, called Kendall+Kylie.
For her twentieth birthday, Jenner donated a portion of the proceeds from her cosmetics line to Teen Cancer America, a charity that works with hospitals to create youth-focused centers for teens and children undergoing treatment, reports Money.
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