Kylie Jenner has become the youngest self-made billionaire in the world aged 21, knocking Mark Zuckerberg off the top spot (he was an ancient 23 when he hit 10 figures). Her Kylie Cosmetics make-up line, which she still owns outright, started selling through Ulta stores across the US last year, the same year in which the brand’s revenue climbed nine per cent to an estimated $360 million. The brand is now estimated to be worth $900 million.
“I didn’t expect anything. I did not foresee the future,” Jenner said. “But [the recognition] feels really good. That’s a nice pat on the back.”
Jenner started Kylie Cosmetics in 2015, and the company still employs only seven full-time and five part-time employees. Marketing is done primarily through social media whilst manufacturing is outsourced, and the brand still makes millions through the Lip Kits which sold out online in less than a minute when they first launched. Overheads are kept low, whilst a constant dialogue with her millions of social-media followers ensure Jenner stays on top of what her customers want from the products.
“It’s the power of social media, I had such a strong reach before I was able to start anything,” she said of her success. “I see [Kylie Cosmetics] going very far. I work really hard.”
And judging by her achievements so far, she’s probably right.