Ever since Forbes labeled Kylie Jenner a billionaire at 21, it seems that the world has been on a mission to get her. Celebrity Net Worth even had an article dedicated to busting the “myth” that is her billionaire status. Can we just let the young mum be?
Providing statistics and details on how Kylie Cosmetics is become a shadow of its former self, the outlet concluded that the 22-year-old is only worth $300 million.
But to be honest, with numerous customers complaining about poor customer service and order mix-ups, could the empire be crumbling before it has even conquered the world?
The “Birthday Collection”
And once again, Kylie was on the receiving end of yet another issue earlier this month. For her 22nd birthday on August 10, the established entrepreneur announced that she would launch a money-themed cosmetics line dubbed “The Birthday Collection”. No harm in that, right?
Unfortunately, the online community didn’t take her announcement kindly. Not that the products were poor quality or anything, but people felt that having them money-themed was a bit of showing off on her part.
One user went as far as saying that she was openly labeling her fans poor with a dubious marketing tactic. With all these negative comments, do you think “The Birthday Collection” made any sales? Of course, it did, only not as much as it would have if this was when Kylie Cosmetics had just been launched.
The youngster first set the ball rolling in 2015 when she launched the company no one had even imagined would grow as fast as it did. With just 12 employees, who would have thought that she could be making as much as $360 million annually?
Fortunately for Kylie and the rest of her family, they have all mastered the art of marketing via social media. Instagram seems to be her most favorite of them all, but she’s also on Twitter, Snapchat, and Facebook, enjoying a collective following of over 175 million across all platforms.
Remember when her Lip Kits sold out in less than 60 seconds? Man, the girl was making moves! Fans were all praises about the True Brown, Dolce K, and Candy K lipsticks, with purchases looking forward to having lips as lush as Kylie’s.
1% Growth
However, between 2017 and 2018, the company experienced its lowest growth rate yet, registering at only 1%.
This was particularly shocking seeing as in the same time frame, the businesswoman had introduced at least 30 new products. Is she already reaching a plateau with her business growth?
When business isn’t going as well as hoped, it most often ends up being sold. But is Kylie willing to head down that route? As she confirmed to Forbes, she has no intention of selling, although momager Kris has brought up the topic a few times.
The 22-year-old is adamant that the issues her company may be facing are just but minor setbacks, but she sees herself bouncing back and going the extra mile.
Whatever developments arise, the youngster promises she’ll let us all know via her social media pages. How about you follow her already if you haven’t yet?
