Following the success of her stepsister Kylie’s success in her cosmetic line, Kim founded KKW Beauty in 2017, with a similar direct-to-consumer, social media marketing-based business model as Kylie’s. It proved a huge success and her first launch of 300,000 contour kits were sold out within hours. By 2018, KKW Beauty had expanded into other cosmetic items like eyeliners, lipsticks, concealers, etc and generated approximately $100 million in annual revenue.
In June 2020, Coty Cosmetics inked a $200 million deal to purchase a 20 percent stake in KKW Beauty. This meant that her company had a market valuation of $1 billion and the purchase was completed in January 2021. She continues to own a 72 percent stake in KKW Beauty valued at approximately $500 million.
The success of KKW Beauty encouraged her to launch her second fashion company, Skims, a shapewear line. Using her massive social media following to publicize the brand, Kardashian helped Skins draw initial investments from Natalie Massan and Andrew Rosen among others. The company grew rapidly during the pandemic as it began catering towards rising demand for fashionable comfort wear in the market with sales rising over 90 percent to $275 million in 2020. By mid-2021, the company was valued at approximately USD 1.6 bn with estimated annual sales exceeding $400 million.
In January 2022, Skims raised over $240 million in its latest financing round led by hedge fund Lone Pine Capital and joined by D1 Capital, Imaginary Ventures, Alliance Consumer Growth, and Thrive Capital. This doubled the company’s valuation to nearly $3.2 billion with Kardashian and her partner Jens Grede still retaining the controlling stake.
In June 2022, Kardashian announced her latest addition to her beauty products line with “SKNN”. SKNN advertises itself to be a nine-product holistic skincare ritual that is hand-curated by the billionaire herself. This venture is backed by Coty who acquired a 20% stake in the business for $200 million.