Kim Kardashian is officially a billionaire, thanks to SKIMS and KKW Beauty

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It was no secret that Kim Kardashian was and is insanely jealous of her half-sister Kylie Jenner. Kylie built a massively successful business (Kylie Cosmetics) out of her childhood room, and at Kris Jenner’s kitchen table. Kylie Cosmetics has grown into a billion-dollar business because Kylie was just doing something somewhat organic to her (lip kits) and she ended up finding a hole in the cosmetics market. Kylie also had so little overhead for the entire business. So, yeah, Kim was jealous. She was dying to create her own billion-dollar business but for the longest time, Kim’s businesses were only “moderately” successful. In that, she made millions, but not billions. Then SKIMS happened. Kim wanted to revolutionize the industry of shapewear and she absolutely did. SKIMS, more than anything else, is Kim’s billion-dollar business. But the other stuff helps, which is why Kim is now officially a “billionaire” according to Forbes:

When Kim Kardashian West was first mentioned in the pages of Forbes in 2011, it was simply a tally of her Twitter followers: 6.6 million, just below Barack Obama and just above Ashton Kutcher. Five years later, she graced the cover of Forbes thanks to her booming mobile game, which helped her earn $51 million that year. Now, she officially joins the World’s Billionaires list for the first time.

Forbes estimates that Kardashian West is now worth $1 billion, up from $780 million in October, thanks to two lucrative businesses—KKW Beauty and Skims—as well as cash from reality television and endorsement deals, and a number of smaller investments.

Kardashian West founded KKW Beauty in 2017, following the success of her half-sister Kylie Jenner’s Kylie Cosmetics. She borrowed from Kylie’s playbook, using a similar direct-to-consumer model that relies heavily on social media marketing. Her first launch, 300,000 contour kits, sold out within two hours. By 2018, the business had expanded into eyeshadows, concealers, lipsticks and fragrances, and was bringing in about $100 million in revenue.

“It’s the first time I’ve moved away from having licensing deals and transitioned into being an owner,” Kardashian West told Forbes in 2017, when she announced her cosmetics line.

She cashed in on that ownership last year when she sold 20% of KKW Beauty to cosmetics conglomerate Coty for $200 million, a deal that valued the company at $1 billion. While Forbes estimates that figure is a little bloated—Coty, which also bought 51% of Kylie Cosmetics in 2020, is known for overpaying—her remaining 72% stake is still worth about $500 million, by our count.

Then there’s Skims, the shapewear line Kardashian West launched in 2019. She raised money from fashion insiders like Net-a-Porter’s Natalie Massane and Theory’s Andrew Rosen, and capitalized on her massive social media following to shill the brand. (She now has 69.6 million Twitter followers and 213 million followers on Instagram.) Skims has been quick on its feet: During the pandemic, when consumers became more interested in comfy clothes for the couch than in smoothing their stomachs under evening gowns, she swiftly started turning the focus to loungewear.

Kardashian West owns a majority stake in closely-held Skims, which hasn’t disclosed its revenues. A source familiar with Skims told Forbes about a transaction that values the shapewear company north of $500 million. As a result, Forbes estimates her Skims stake is worth a conservative $225 million, enough to lift her fortune to $1 billion.

The rest of Kardashian West’s fortune sits in cash and investments, including real estate. Every year since 2012, she has earned at least $10 million pretax, by Forbes’ count, thanks to paychecks from Keeping Up With the Kardashians, endorsement deals and endeavors like the aforementioned mobile game and her now-defunct Kimoji app. She’s also got three properties in Calabasas, northwest of Los Angeles, and a portfolio of blue-chip investments, including shares of Disney, Amazon, Netflix and Adidas that her soon-to-be ex-husband Kanye West gifted her for Christmas in 2017.

[From Forbes]

Yeah, I agree with Forbes? I think their math is correct, unlike their faulty reporting around Kylie Jenner’s empire. If anything, Forbes might be undervaluing some of Kim’s businesses. I do appreciate that they acknowledge that Kim was just blatantly copying Kylie with her KKW Beauty line, because it’s true. KKW Beauty is just the Kmart version of Kylie Cosmetics, and Kim is very much stepping on Kylie’s empire. But whatever. SKIMS is where it’s at. And I didn’t know the Kimoji app was defunct! Damn. Hire people to fix the app!

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Photos courtesy of Kim’s Instagram.

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28 Responses to “Kim Kardashian is officially a billionaire, thanks to SKIMS and KKW Beauty”

  1. MaryContrary says:

    Ugh. That’s it. That’s my entire comment.

  2. Charlotte says:

    Really??, Because after the Kylie fiasco, Forbes is not a reliable source!! 😂

    • BearcatLawyer says:

      Forbes knows full well that her companies are not publicly traded so there really is no way of knowing what their revenues, margins, and profits are, and hence what their fair market value is. I am NOT saying Kim is not a billionaire, but it seems *highly unlikely* that in just a few short years privately held companies in two of the most competitive industries – fashion and cosmetics – could reach a combined value that gives Kim close to $1bn in wealth.

  3. dogmom says:

    OMG that pic of KK on the horse is hilarious! It’s like she’s crossed with Catherine Zeta Jones and is also a vampire. Otherwise, ugh. I know a lot of people here are lukewarm to fine with KK, but it’s just so disheartening to me that she’s a billionaire, if Forbes is accurate.

  4. Noki says:

    Kim and her makeup artist claim that they were working on their line for ten years,but again i dont believe any of the K Klans klaims or numbers. And Beyonce and Jlo are never on the forbes lists,thats strange,Forbes obviously get paid for the people who want their ‘wealth’ known.

  5. Christin says:

    And I have some oceanfront property in Arizona…

  6. Astrid says:

    I can’t believe people watched the show and bought their products. I admire the hustle but that’s about it. The sex tape that started it all LOL

    • Ann says:

      I think it’s more their Instagrams. Evidently there are a lot of women who aspire to live in a thong bikini year round. That’s the gist of all their social media. In between the butt floss pics are ads for their own products. I don’t doubt they are making lots of money but I think the billionaire stats seem a bit cooked.

  7. Bettyrose says:

    What’s money to a future civil rights attorney and White House advisor like KKW? Her heart is in serving the people.

  8. Mina_Esq says:

    Respect to Kim.

    • Dr Chi says:

      I know right!! Not bad for someone without talent. She has tried to change the narrative. And yes she is jealous of her sister, lol.

  9. Tammy says:

    I will call them up and have my source tell them my company is worth that as well. Not sure how much I believe this.

  10. Andrew’s Nemesis says:

    Well, this news has dumped today in the shitter.

  11. Lucy says:

    Billionaires shouldn’t exist.

    • Nastou says:

      Thank you! I always feel like the only one here who doesn’t buy the “Super rich people deserves to be so because they worked hard for it, and any form of disagreement makes you either jealous or communist”. I need to vent, so sorry for the rant to come:
      Money= ressources
      Money is infinite (Scriptural money)
      Ressources are NOT infinite
      Basically super rich people hold all the ressources and they represents only 1 % of mondial population. They work hard? As hard as a single mom with 3 jobs to live barely above the poverty line? Hard working people doesn’t earn money while sleeping.
      Thoses 1% are stealing the ressources to the rest of us, yes, stealing. And money = power, so now they are more powerful than presidents, they are the real rulers, and they are not elected.
      Please people, wake up, think about our children and grandchildren who will have to sell their liver to afford whatever basical need.
      Think about the fact that countries now have to lend money to these people, represented by bankers. Think about what happens when a country is endepted.. Citizens becomes slaves.
      Because yes, working full time while not being able to live above the poverty line, being unable at 30 to buy a modest house and not having children you deeply desire just because you can’t afford them a good life… Is a bloody slavery.

  12. psl says:

    They always inflate their numbers and lie, so I am not believing this story.

    However, she is still disgustingly wealthy, no matter what she has.

  13. OriginalLala says:

    Sorry, but billionaires shouldn’t exist – they can’t exist without shady business practices, and off someone else’s back, so why should anyone be impressed by her? She is an un-ethical, greedy, shady business person who built her success on slave wages and poor quality products…so congrats I guess?

  14. ME says:

    So can Kim finally sleep at night now? Thank God she’s a billionaire finally ! Seriously though, on TMZ yesterday they said Kanye gifted her a stake in his Yeezy brand for her birthday and that’s how she managed to jump up to billionaire status. This is why she’s always wearing Yeezy even though she’s divorcing the dude. Not saying a man is behind her success or anything…just saying Yeezy brand is worth billions and that’s how her net worth jumped.

  15. wheneight says:

    Not sure I believe it. Does anyone here own, or know anyone who owns, SKIMS? I sure don’t. Or KKW Beauty for that matter.

  16. Callie says:

    Please stop saying Kylie built her business, it is an insult to every real business owner. She did absolutely nothing but take selfie’s. Her entire business is bs; do you you really think she had anything to do with the real work involved? Stop glorifying these people.

  17. Jules says:

    Meh. I don’t believe anything this family boasts about. Plus she is an empty person and she clearly hates herself based on the new face. So who cares about money.

  18. Valerie says:

    Okay, seriously: Why? Just why?

  19. GrilledCorn says:

    I can’t stand their makeup and clothing. They’re adding nothing to society and ruining the planet with overconsumption. The people they employ and help indirectly stay employed could be employed in a green energy transition or other green efforts.

    I believe these figures. Just surf IG and you’ll get an idea of how many people want to dress and wear makeup just like the Kardashians.

  20. Egla says:

    Well congratulations I guess. She is my age and managed to build something from a …sex tape. Meanwhile my family pushed me to go to school, work a 8-4 job, be a proper girl and be uncomfortable in my skin as one should. And I have a mortgage now because why not.

    This world is crazy.

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