Today — across the globe — one Kylie Jenner lipstick will be sold every five seconds.
To put that into context however, in those five seconds, 30 iPhones will be sold.
Timeline for Spend It
- November 15, 2018
- November 14, 2018
Nevertheless, Kylie Cosmetics is catching up with the big retail giants, and the company’s owner and founder, Kylie Jenner, is set to become a billionaire within the next five years if that growth continues.
Kylie, 20, may be the youngest of the Kardashian clan, but she is already racking up quite a fortune. She has already overtaken all of her siblings in wealth, even older sister Kim Kardashian — to whom she arguably owes much of her success.
After becoming the youngest person on the Forbes’ Celebrity 100 Rich List and placing in Forbes’ 30 Under 30 this year, where is her wealth coming from? And is her personal brand and it’s selling-power showing signs of slowing?
Kylie Jenner’s beauty empire
Kylie Jenner net worth: £41m
The daughter of Kris Jenner and ex-Olympian Caitlyn Jenner has no trust fund, interestingly, but she rakes in money from various collaborations and sponsored promotions.
Having just under 100m Instagram followers certainly helps! However Kylie Cosmetics is the real money spinner for this Kardashian sister.
After only launching her business two years ago, to say it has been successful would be an understatement.
As Women’s Wear Daily reported last month, Kylie Cosmetics has made $420m in the last 18 months.
Estee Lauder and Tom Ford Beauty, in comparison, both only reached the $500m mark after over a decade.
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At the rate Kylie’s business is growing, she is set to become a billionaire by 2022.
When Kylie Cosmetics launched in November 2015, only 2,500 lip kits were produced. A lip kit includes two products — a matte lipstick and a corresponding lip liner.
Today, production has increased dramatically – it is up over 60 percent. The collection has also expanded into other cosmetics products, alongside the lip kits, including eyeshadow (named Kyshadow).
Kylie Cosmetics is showing no signs of slowing.
The business is on track to see a 25 percent increase in sales this year. If the growth trajectory continues, Kylie Cosmetics, run by Kylie (and helped along by her so-called Momager Kris Jenner), will be worth $1bn in as little as five years.
Joining the billionaires club
Microsoft founder turned philanthropy demi-god Bill Gates became the world’s youngest ever billionaire in 1987 at the of 31.
In 2008, Mark Zuckerberg stole that title when he reached (technical) billionaire status at the age of 23.
The current youngest self-made billionaire is Irish entrepreneur John Collinson, who founded online payment processing company Stripe. He became a billionaire at the age of 26 and is today 27-years-old.
Kylie is well on her way to joining the likes of Zuckerberg and Collinson.
She could claim the title of the world’s youngest self made female billionaire.
Elizabeth Holmes, the founder of the healthcare tech firm Theranos, holds the honour of becoming the youngest self-made female billionaire in the world, at 33 in 2016 with estimated net worth of $4.5bn according to Forbes. That was short-lived, however, as Holmes’ fortune evaporated along with the future of Theranos.
If Kylie Jenner becomes a billionaire, she will be one of the most famous billionaires in the world.
Fame is something Kylie Jenner knows all too well. She has starred in TV show Keeping Up With The Kardashians since the age of 10. This year she then landed her own reality show, Life of Kylie, which premiered last month.
In February, Kylie tried to trademark her name. However singer and actress Kylie Minogue then brought about legal action against trademarking the name, and won. Kylie has reportedly since launched an appeal against the decision.