Just three years since launching, Kylie Jenner’s Kylie Cosmetics has netted the reality TV star $900 million ($A1.2 billion), with Forbes predicting the 20-year-old is set to become the youngest ever self-made billionaire. This title is currently held by Facebook’s Mark Zuckerberg, and before him Bill Gates.
Covering Forbes' August issue – which has documented America’s most successful female entrepreneurs – Jenner was profiled. The makeup mogul explained that most of her fortune is derived from her ability to turn her 110 million-strong Instagram following into sales: "Social media is an amazing platform. I have such easy access to my fans and my customers."
The reason for Jenner’s enormous wealth also stems from Kylie Cosmetics’ low overheads and small team. Her near-billion-dollar empire consists of just seven full-time and five part-time employees; and packaging and manufacturing has been outsourced, as well as sales and fulfilment. The only PR for the brand is done by Jenner herself, who frequently posts about new releases and restocks via Instagram and Snapchat stories.
Kylie Cosmetics began when Jenner decided to capitalise on her now-infamous pout and release $USD29 lip kits. The kits sold out in less than a minute, and by the end of 2016 (less than a year since launching) Kylie Cosmetics was selling products for a revenue of $US307 million.
