According to Forbes magazine, 23-year-old influencer and entrepreneur Kylie Jenner is one of the highest-paid celebrities in the world. The Instagram expert built her fortune of around $700 million through paid posts and through her cosmetics company Kylie Cosmetics. No wonder that young people in particular follow her example and want to be just as successful as the popular influencer. So what is Kylie Jenner’s career secret and what can young founders learn from her?
Kylie Jenner Net Worth
Kylie Jenner was a regular on the reality TV show Keeping Up with the Kardashians with her family from the age of 10. At that time, the star was still her half-sister Kim Kardashian, from whom Jenner was able to learn a lot in terms of marketing. After the first attempts at modeling, her own Instagram career followed. There, Jenner developed a high number of followers, delighted her fans with creative posts and was able to amass quite a fortune through advertising. According to the fashion and lifestyle magazine “COSMOPOLITAN”, the ambitious influencer should earn 400,000 US dollars 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 build up most of her wealth in 2019 by selling 51 percent of her company. The beauty group Coty, which is majority owned by the JAB Holding of the German billionaire family Reimann, paid 600 million US dollars for the still young cosmetics start-up.
The most important tip
According to the men’s magazine “GQ”, Jenner runs her company with only twelve employees and her most important guideline: keeping the USP (Unique Selling Proposition) in house, nothing else. Everything should be outsourced, from production and financing to sales and the legal department. In this way, the entrepreneur tries to keep the running costs low and thus concentrate on the most important component of her company – marketing. With its 238 million followers, it’s also doing pretty well and keeps selling out quickly for new products. According to “COSMOPOLITAN”, their product “Kylie Lip Kit”, consisting of a lipstick and lip liner for 29 dollars, sold out within a minute on release. By teasing her followers on Instagram for weeks, Jenner was able to create a tension curve that led to this hype. Marketing is king.
Tim Adler / Editor finanzen.net
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