“AND NOW, WITH A SINGLE SOCIAL MEDIA POST, SHE IS ABLE TO REACH DOUBLE THE NUMBER OF PEOPLE WHO WATCH THE SUPER BOWL EVERY YEAR”
This statement was made by the Chief Financial Officer, Pierre Andre Terrise, of Coty – the parent company of CoverGirl and other beauty mainstays – in a conference call that stunned everyone. After only four years in business, Jenner has sold her company for $600 million to Coty for a 51% stake. “Kylie is a modern-day icon, with an incredible sense of the beauty consumer,” adds Peter Hart, Coty’s chairman of the board. “We believe in the high potential of building a global beauty brand together.”
JENNER REACHES “GENERATION Z” CONSUMERS
I was not entirely sure what a “Generation Z” was so I decided to google it and here’s what I found. Please note: the word “google” has morphed into a verb. Briefly, it’s those born between 1995 and 2015 (nearly 74 million in the U.S,) and who presumably, account for close to 40% of all consumer shopping (how they figure these things is beyond me – but they do).
These modern shoppers expect sales people to have instant access to price and inventory (I recently shopped at Michael’s, the art store on Sixth Avenue and 22nd Street in NYC and was waited on by a real whiz kid – within seconds she found a very small “moose” for me that was a fun gift – I was delighted by this record-breaking service at a giant store with literally thousands of items.)
ON SOCIAL MEDIA SHE HAS OVER 270 MILLION FOLLOWERS
In March 2019 Forbes magazine labeled Jenner the youngest self-made billionaire in world history. It all started in 2015 when Jenner began her business with the modeling money she saved. Then an outside company was hired to produce 15,000 Kylie Lip Kits that were priced at $29.00 each. Upon their release, the initial batch sold out online in less than a minute (my eyes are bugging out of my head).
BY 2018 HER COMPANY REACHED $360 MILLION PER YEAR
Amazingly, the company has only seven full-time and five part-time employees. She also reportedly earns $1 million per sponsored Instagram post for products ranging from sunglasses to vitamins to tea.
A glam Kylie Jenner – Photo courtesy of Bazaar, March 2020
THE YEARS FROM 2020 ON WILL BE VERY EXCITING
Jenner says, “I can’t wait for all of the amazing things to come for @kylieskin and @kyliecosmetics,” she recently tweeted to her 29.3 million Twitter followers. “I’m excited to partner with @cotyine to continue to expand my brands globally. This is only the beginning!”
IMPORTANT: JENNER STILL HOLDS 49% OF HER COMPANY
“Kylie and Coty are clearly complementary,” says CFO Terrise. “We cannot bring what she brings and she cannot bring what we bring. I think the main motivation for Kylie is seeing the baby grow and become something – and getting a financial reward. We plan to stay on board for this wonderful adventure.”
For this blog I referenced the Financial Times and a New York Post article written by Lisa Fickenscher and Aaron Feis that appeared on Tuesday, November 19, 2019. CLICK HERE to get a quick look at what Kylie has to offer.
Shaun Nelson-Henrick
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