It may be that the youngest of the Jenner family has recently lost her best friend, Jordyn Woods, but apparently it is a situation she does not care about, especially because Forbes He's just named the youngest multi-millionaire in history, so this is what really matters to him.
In July 2018 the magazine considered Kylie Jenner the youngest billionaire to generate a fortune of her own. According to the information, Kylie created her fortune thanks to her empire of cosmetics, valued at 900 million dollars. Today they have just given her a new title that positions her as the queen of business and that, obviously, shows her as a woman who knows how to manage her fortune.
What does it mean that it is multimillionaire by itself?
For three years, Kylie Cosmetics, her makeup brand, had been sold only online and in some local stores, but after signing an exclusive distribution agreement with the company Ulta, the cosmetics were sold in more than a thousand stores; that's when Kylie's empire started.
During the first six weeks of its launch, so many products were sold that generated profits of 54.5 million dollars. Revenues increased 9 percent each year and are currently estimated to generate $ 360 million.
Kylie owns 100 percent of her company, there are no partners, there is no investor and no relatives who contribute capital. For this, and adding all the money she gets from her business, the 21-year-old has an estimated fortune of one billion dollars. And, then, the reason why Forbes He named her billionaire alone? Well, it was because he did not inherit a fortune, she worked alone every day to create it.
Kylie owes her success to social networks
In the interview he explained that he owes all his success to social networks. The platforms and digital media helped her promote her line of cosmetics:
I did not expect anything. I did not foresee the future, but it feels really good. This appointment feels like a good pat on the back.
When Ulta launched the cosmetics in 50 states, the reaction of the buyers was crazy. They acquired the Initial Kits online in less than a minute. In some stores the inventory ran out in hours. Shannon Coyne, capital analyst, said:
He did it well online, but as far as the Internet could take it. But she also realized that she needed a store that would push her to more places to expand and Ulta was a great option, she has 714 stores more than Sephora in the whole country. Whatever happens now, Jenner will use social networks to delight his tens of millions of fans and make them consume their products.
The reactions did not wait, especially for the term alone
Have not we seen this before?
By itself: succeed in life without the help of anyone.
1. Succeed in life without the help of anyone.
2. Made by itself
Many think that their success did not come only because of the fame of their family and the money they already had to create their products. Other millionaires had to borrow or work years in exhausting jobs before obtaining their fortune; In other words, Kylie was already a millionaire.
At least we should give him credit for the achievement
Kylie was already a millionaire, that is a fact that can not be denied, but at least she has a vision for business and did not resort to a millionaire husband, an inheritance or sexual scandals to create her fortune. But in the end, we suppose that this is how the success stories begin, if we talk about young people nowadays.