Kylie Jenner. A name everyone would have heard as the ‘Youngest Billionaire in the World.’ But do you know some of the unknown facts related to her? Her healthy mindset and will power help her to overcome her childhood fears and convert them into a business opportunity. Never did anyone knew, until kylie that an ignorant market can be re-established to become a billionaire. Often called as the ‘Lip Kit Mogul,’ Kylie is also one of the ‘Youngest Self-Made Billionaire’s in the World”.
The Success Story of Kylie Jenner:
Often described as a model, socialite. Businesswoman and an American media personality. Born on August 10th, 1997, in her initial days she starred in the television series ‘Keeping up with the Kardashians’ in the year 2007. She started and founded her own cosmetic company, called as Kylie Cosmetics. Kylie Cosmetics was first named as Kylie Lip Kits and got started in the year 2015, and the rename took place in the next year.
At a tender age of 14, she along with her sister, created a line clothing and apparel named as ‘Kendall and Kylie.’ This clothing line got launched in the year 2012, in collaboration with the prominent clothing brand PacSun. In 2015, Kylie launched her mobile application, which was so successful that it reached number one on the app store the year it debuted.
Seeing their fan following amongst the youth in the social media, the Jenner sisters were listed as the ‘Most Influential Teenagers in the World’ by the Time magazine in successive years 2014 and 2015. She is one of the most followed pe on Instagram, with over 140 million followers as of July 2019. She was the youngest celebrity to get featured on the Forbes Celebrity 100 List in the year 2017. On August 6th, 2017, Kylie starred in her spin-off series which got premiered on E! named ‘Life of Kylie.’
Kylie’s net worth has been estimated to over 1 billion US dollars, as of March 2019, according to Forbes magazine. This fact makes her the youngest billionaire in the world at the tender age of 21. She was also credited as the Most Influential Celebrity in the Fashion Industry by the New York Post during November 2018.
However, the success of Kylie Jenner is often undermined and is not credited as self-made as she comes from a background which is privileged and wealthy enough. Not to forget the fact that she is also the mother of a one-year-old child.
The reasons which made Kylie Jenner, the successful person she is today:
What is the most crucial thing which is required to achieve our desired goal in life? Passion, right? Passion is the quality which Kylie possessed right from the beginning of her career. She had the perfect target and had planned her goal correctly. Her goal was to have her cloth-line and a cosmetic brand. She worked hard towards her passion and finally achieved the success she always craved for.
2. Unique Marketing Methods:
Kylie Jenner from the beginning knew the pulse of the audience very well. She knew perfectly, where do people like to spend their money and knew the exact taste of the youth nowadays. She planned to launch her own cosmetics industry, which was an unprecedented step as no one had thought of such an idea.
She knew that lots of cosmetic companies were in the rise, so she thought of bringing a cosmetic line for a single part of the body. That is the reason she started a lip kit industry, as every person would love to have to beautiful lips as it increases the face value. To increase her market range, she opted for unique strategies out of which one was getting herself operated through multiple lip surgeries, which helped in getting her the media highlight quite often.
These marketing strategies were the main reason why she became successful in a short span as she entered the beauty market with a defined purpose and a perfect plan. She was intelligent compared to other celebrities as her marketing knowledge was way ahead of them. Kylie Jenner was specific what she wanted to launch, and in turn, it paid her tremendous dividends. Such is the marketing knowledge of Kylie that even today no one has ever come near to the brand value she possesses.
3. Saving Everything to make her Dream count:
As we have discussed before, Kylie started her career at the age of 14, which is considered a very young age. She and her sister both owned a clothing line, and both of them used to share the profits from their sales.
In one interview, Kendall Jenner stated that Kylie used to save all of her profits carefully and never used to spend them in a futile way. All her collected benefits came to use when she started her beauty brand, and this quality of Kylie also became one of the promising steps towards her success.
4. Usage of Social Media the Right Way:
As stated before, Kylie Jenner is one of the top celebrities to have a huge fan following on social media. She has around 140 million followers on Instagram. The youth describes her as a social queen. Here is where her marketing knowledge deserves another round of appreciation as she knows what to share with her followers and when to share it.
Many media analysts opine that she is only a few of the celebrities who carved their market out of social media. People can disagree upon this point, but her vast customer base, which is social media-oriented proves that this point has been agreeable.
5. Acute Focus on the Business:
What makes Kylie different from others is that while most of the celebrities like touring the world once they become successful, but she remains focused on her business. Kylie never likes going on a vacation, but she instead focuses on extending the roots of her business. Kylie always keeps herself busy by preparing various types of lip kits. And by doing so, she has carved a niche for her in generations to come.
6. The Work Process She Believes in:
In simple words, we can call this factor as outsourcing. Outsourcing is nothing but paying another company for doing your work. Kylie knows the fact that labor work is cheap in Asian countries compared to the American states. So, to lessen the expenditure in manufacturing her products, she lends her whole production process to many Chinese companies. This idea of hers, in fact, reduces the workload, fastens the work process, and eases the work operations.
Another fact to ponder on here is that the assistance of only seven employees runs her company Kylie cosmetics. Yes, you heard it right. It consists of a total of 7 full-time employees and five part-time employees. The lessening of the work capacity is mainly due to outsourcing, and it also helps in planning your business well as only a small group of workers are working under you. It also helps the fact that she can efficiently co-ordinate with her workers and scrutinize various plans when needed.
And the final thing to record is that Kylie herself manages the work of marketing and branding and the sales of the company are made utilizing online purchases or transactions.
The Financial Success of the Youngest Billionaire in the World:
The financial success of Kylie Jenner was probably possible due to the support and the result of a single woman’s hard work, Kris Jenner, the mother of Kylie Jenner. She was the main reason why Kylie chose this career, and she was the guiding limelight to Kylie during all her difficult times. She made Kylie Jenner the independent woman she is today.
After launching its first lip kits in the year 2015, Kylie cosmetics has embarked on a long way since then. The cosmetics company which has established itself as a reputable beauty brand has now started to sell lip kits in various types of color and finishes, as well as eyeshadow palettes, blushes, highlighters, bronzers, concealers: lip-glosses, makeup brushes, and standalone lipsticks. This beauty brand signed an exclusive distribution deal with one of the top beauty retailers Ulta in the year 2018. This deal has made available all of Kylie’s products in stores across America for the first time.
The Journey of Kylie Cosmetics:
Kylie Cosmetics has sold products which are worth over 54.5 million US dollars to Ulta according to leading economics magazine Forbes. This enormous selling of products has happened only within the first week after the rollout to Ulta by the beauty brand. Due to this reason, the sales revenue of the brand has increased and climbed to a rate of 9 percent, taking the estimated value to around 360 million US dollars. This extravagant growth of Kylie Cosmetics, according to Forbes, has put the total net worth estimation of the company to be approximately 900 million US dollars. To brief it in simple words, it means that the company’s brand value and net worth is around 900 million US dollars.
Upon this, if you then add the ongoing endorsement deals campaigned by Kylie and the income from her family’s reality show will quickly empower her as one of the world’s youngest billionaire and also the youngest ‘self-made’ billionaire.
What makes her the Youngest Self-made Billionaire?
Lots of doubts have brought on Kylie’s success and many people doubting the fact that is she a ‘self-made’ billionaire? A report of Forbes has extensively clarified that all the earnings grossed by Kylie is due to her hard work and perseverance and is not associated with any of her family’s incomes. People doubted Kylie at first, as she belonged from a righteous and wealthy family that she can be successful because of it. But Kylie has stood by words, which interpret ‘Fortunes are not inherited and has to be rather built by sheer hard work and excellence.’
But the hard-work Kylie had to endure single-handedly shows the fact how dedicated she was to be one of the discoverers in the beauty industry. Not many know the fact that Kylie at the age of 15, was left independent by her parents and they never supported her economically, though there was constant emotional support. Her success story might be easier to learn, but it is undoubtedly difficult to achieve.
From the above fact, we can clearly state her as a ‘self-made’ billionaire as she was never financially supported by her wealthy parents who wanted their kids to grow up independent and embark a name upon themselves. Her success justifies that no one can deny the fact that it may take lifetimes for someone to achieve what Kylie has performed at a mere age of 21 years.
She has proven to the society that she was meant to be the pioneer of the beauty industry and also a queen on the social media beating many eminent personalities. Try to engulf the tips she followed towards her goal, and who knows someone of you might overthrow her as the World’s Youngest Billionaire.
In 2019, as per the annual rankings of the Forbes magazine, Kylie Jenner became the ‘Youngest Self-Made Billionaire’ at a tender age of 21. By doing so, Kylie beat Mark Zuckerburg, the founder of Facebook, who had become a billionaire at the age of 23. As per 2019, Kylie Jenner’s brand value and net worth are estimated to be around 1 billion US dollars.