In 2014, at the early age of 17 and accompanied by her mother Kris Jenner, Kylie Jenner embarked on her first, independent business venture by launching Kylie Cosmetics in partnership with Seed Beauty. She also invested $250,000 from her own income as a model. The company started out by launching a collection of three liquid lipsticks, Kylie Lip Kits, on November 30, 2015. The product proved an instant success with customers and each of the $29 shades were sold out almost immediately post-launch. By February 2016, the company had to ramp up its manufacturing capacity and within its first 18 months of operation, it had generated over $420 million in revenues.
In November 2016, Kylie Cosmetics ran its first collaboration campaign with Khloé Kardashian with the Koko x Kylie collection. After its huge success, the company doubled down by launching a holiday collection on November 21 which resulted in the brand’s largest sale yet, generating nearly $19 million in revenue within 24 hours.
In April 2017, Kylie Cosmetics reported over $13.5 million in revenue, largely dominated by the sales generated from the crème lipstick collection in collaboration with Kim Kardashian. In November, Jenner partnered with TopShop which sold Kylie Cosmetics across its 7 retail stores across the US. This was a major expansion for the brand since up until then, the company only operated with customers directly. The company would go on to make several other collaborations with Kris Jenner, Khloé, and Kim Kardashian. They were huge successes and dominated their respective sales figures with each launch.
In July 2018 and at the age of 20, Jenner became the youngest person to be listed in the Forbes list of America’s Richest Self-Made Women with an estimated net worth of nearly $900 million. In November 2018, Kylie Cosmetics further ramped up its retail and digital expansions by partnering up with Ulta Beauty and launching a mobile app in the same month. By the end of the year, the company had estimated annual revenue of over $360 million with the company standing at a valuation of nearly $900 million.
By September 2019, Jenner had successfully expanded her brand into skincare and personal fragrances. In November, Coty bought out a 51% majority stake in the company in a deal worth approximately $600 million. This deal put the company at a $1.2 billion valuation and pushed Jenner’s net worth over the billion-dollar mark.
However, in 2020, Forbes reported that the Coty deal also highlighted that Jenner’s business had actually been much less profitable than what she had publicly stated. The company revised her net worth to $900 million, thus stripping her of the billionaire’s title.
Kylie Jenner continues to expand her business empire by launching new product lines like Kylie Swim, a swimwear line, in August 2021, and Kylie Baby, a skincare product line for babies, in September 2021.