According to Forbes magazine, the 23-year-old influencer and businesswoman Kylie Jenner is one of the highest-paid celebrities in the world. The Instagram maven built her fortune of around $700 million through paid posts and through her cosmetics company Kylie Cosmetics. It is not surprising that young people in particular follow her example and want to have the same success as the popular influencer. So what is the secret to Kylie Jenner’s career, and what can young founders learn from her?
Kylie Jenner’s net worth
Kylie Jenner was a regular on the Keeping Up with the Kardashians reality show with her family since she was 10 years old. At that time, the star was still her half-sister Kim Kardashian, from whom she Jenner was able to learn a lot in terms of marketing. After the first attempts at modeling, she followed her own career on Instagram. There, Ella Jenner developed a huge following, delighted her fans with creative posts, and was able to amass a huge fortune through advertising. According to the fashion and lifestyle magazine “COSMOPOLITAN”, the ambitious influencer should earn US$400,000 from an advertising post. Then in 2014, Jenner founded Kylie Cosmetics and reportedly had sales of $420 million in 18 months. According to reports in the Handelsblatt, Jenner was able to accumulate most of her wealth in 2019 by selling 51 percent of her company. Beauty group Coty, majority owned by German billionaire Reimann family’s JAB Holding, paid US$600 million for the still-fledgling cosmetics startup.
The most important advice
According to the men’s magazine “GQ”, Jenner runs her company with only twelve employees and her most important guideline: keep the USP (Unique Selling Proposition) at home, nothing more. Everything must be outsourced, from production and financing to sales and the legal department. In this way, the entrepreneur tries to keep operating costs low and thus concentrate on the most important component of her company: marketing. With her 238 million followers, she is also doing quite well and continues to sell out quickly for new products. According to “COSMOPOLITAN,” her product “Kylie Lip Kit,” which consists of a $29 lipstick and lip liner, sold out within a minute of launch. By pestering her Instagram followers for weeks, Jenner was able to create a stress curve that led to this hype. Marketing is king.
The Adler Team / Editors of finanzen.net
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