Kim Kardashian Joins The Billionaire Member Membership

Kim Kardashian Joins The Billionaire Member Club

Kim Kardashian; Picture Credit score: AFP

Kim Kardashian West is now a billionaire. The fact TV star noticed her internet price surge from US$780 million final October to US$1 billion this month, as reported by Forbes. Her most important two sources of earnings are her cosmetics and clothes traces: KKW Magnificence and Skims. Except for her private ventures, Kardashian West additionally rakes in thousands and thousands from her participation within the actuality TV present, Retaining Up With The Kardashians, numerous endorsement offers, investments and properties.

First launched in 2017 and following the footsteps of her sister, Kylie Jenner’s Kylie Cosmetics, Kardashian West’s KKW Magnificence additionally utilised the direct-to-consumer (DTC) mannequin. Leveraging on her immense 213 million Instagram followers, KKW Magnificence’s inaugural contour kits offered out inside two hours. Within the following yr, its product vary has runs the gamut of eyeshadows, concealers, lipsticks and fragrances. The success of KKW Magnificence caught the eye of magnificence conglomerate Coty, which purchased a 20% stake for US$200 million, this values the corporate at US$1 billion. Equally, Coty has additionally purchased 51% of Kylie Cosmetics in 2020.

On her shapewear line, Skims, Kardashian West based the corporate in 2019. Much like her magnificence line, Skims additionally makes use of the DTC mannequin. Whereas the corporate doesn’t disclose financials, it’s estimated to be price US$225 million. That’s not shocking as a result of as the vast majority of the world went into lockdown, many are demanding extra loungewear and Skims is fast to leap on the bandwagon to provide them. 

Earlier this yr, Kardashian West has filed for divorce from her husband, Kanye West, citing irreconcilable variations. Her soon-to-be ex-husband has gifted shares of Disney, Amazon, Netflix and Adidas, which helped to propel her internet price to achieve the billion greenback mark. 

If you’re finished with this text, try our piece on the Prime 10 Richest Ladies within the World.

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Written by LessDaily.Com


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