2023-08-03 13:55:41
Washington After the success of her make-up business, which made her enter the elite club of billionaires, Kim Kardashian started her second professional adventure in 2019: Skims, a body shaping clothing brand. Four years later, the American TV star has managed to quadruple its value. After a new round of funding, in which it has raised 270 million dollars, Skims is already worth 4 billion dollars (3.661 million euros), 800 more than the valuation made by investors last year.
While the fever of unicorns is starting to lose steam in the United Stateswith many start-ups signing lower valuations and refraining from seeking new capital, Kardashian’s company, founded by the hand of his partner Jens Grede, stands out for very fast growth. Skims was a success since its launch, focusing its marketing on shapewear, and has expanded over the years into clothing, lingerie and swimwear. This autumn, in fact, it plans to expand its production, also, towards the male audience.
The new infusion of capital, mainly from asset manager Wellington Management and venture capital firm Greenoaks Capital, has boosted the TV star’s personal fortune to £1.7bn. In 2021, after selling 20% of its first start-upKKW Beauty, for $200 million, entered the Forbes list for the first time of people with more than 1 billion dollars. The magazine indicated last week that the latest events they have brought in $500 million in his fortune.
A family empire
Kim is not the first of the Kardashian sisters who, taking advantage of their fame, decide to invest their wealth in a personal business and in line with their public figure, nor is it the first celebrity to multiply their income in this way so forcefully .
In fact, with more or less success, each member of the Kardashian-Jenner family has their own company: Kylie Jenner launched a makeup brand, Kylie Cosmetics, in 2015, which was complemented in 2019 by a Skincare business, Kylie Skin. These business investments have helped him position himself, for the sixth consecutive year, as the youngest person to appear on the Forbes list of America’s richest women. According to the magazine, at the age of 25, he has a net worth of 680 million dollars.
Other examples of business success in the country’s most televised family include Khloé, the youngest sister, with her clothing brand Good American, which advocates the “inclusivity of all body types”; Kourtney, who in 2019 founded Poosh, a brand and blog focused on the lifestyle, with recipes, fitness routines and the recommendation of “Poosh-approved” products; or Kris Jenner, with her brand Safely, the latest addition to the family empire, a brand that makes cleaning products produced on a plant basis, which will go on sale this year.
From Hollywood to the business world
It is becoming more and more common to see celebrities converted into entrepreneurs. Make-up brands co-founded by celebrities, for example, accounted for 4% of the market before the pandemic, and have grown to 7%, according to data from the firm NPD Group. It is a trend that extends to the rest of the sectors, which are born from the union between know-how (the so-called know how) of an entrepreneur and the popularity of a celebrity, an almost foolproof formula that catapults business results.
The Kardashians have followed in the same footsteps as stars such as George Clooney, Katy Perry, Jennifer Anniston, Snoop Dogg, Scarlett Johansson, Jennifer Lopez or Rihanna. The latter celebrity, for example, already has an empire of more than 1.4 billion dollars. The singer, who started in the music world in 2005 at the age of 17, is one of the best-selling artists in history, with more than 60 million albums sold digitally. Two decades later, she is a billionaire, but not thanks to music, but to a successful investment in her cosmetics company, Fenty Beauty, in 2017.
We find similar cases in the actress Cameron Diaz, with her line of Avaline wines; Selena Gomez, with Rare Beauty, a make-up brand that in three years is already sold in 45 countries; in Elton John’s glasses company, with the same name (Elton John Eyewear), or Dwayne Johnson, known as The Rock, who in three years has brought the value of the Teremana tequila brand above 2,000 million of dollars
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