19-year-old Kylie Jenner is hit the billion dollars pretty soon – all thanks to her makeup brand.
The youngest member of the Kardashian-Jenner family used her most famous asset—cosmetically enhanced lips—to launch a makeup line her fans can’t seem to get enough of. Growth shows no signs of slowing down, with Kylie Cosmetics on track to see a 25 percent increase in sales this year. That puts sales projections for 2017 at $386 million, and if that growth trajectory continues, Kylie Cosmetics, wholly conceptualized, founded and helmed by Kylie (with some help from mastermind and mom Kris Jenner) is on track to become beauty’s next billion-dollar baby by 2022.
Despite being less than one year old and experiencing those aforementioned speed bumps, Kylie Cosmetics is an undeniable success story. Money Nation, a Web site that describes itself as a personal finance resource, estimates that Jenner has made $8.7 million from branded merchandise like Lip Kits.
According to Yahoo News, Kylie Jenner launched her now-signature Kylie Lip Kits on Nov. 30, 2015 — when the three shades sold out in seconds — there has been raging speculation about the size of her business, with guesstimates ranging from $50 million up to $300 million being tossed around by those in the financial, beauty and tech spaces.
Well, here’s the bad news for more-established beauty players: Jenner’s surpassed the higher figure with ease. Kylie Cosmetics actually has done $420 million in retail sales — in just 18 months — Kris Jenner revealed to WWD last week during an interview in her office at her home in Hidden Hills in Los Angeles. It was the first time the Jenners have disclosed the scale of Kylie’s business, and they provided WWD with documentation.
The number is clearly impressive, but when compared to the sales of some other mega-beauty brands, the growth trajectory of Jenner’s business becomes even more significant.
For perspective, the Estée Lauder Cos. Inc.-owned Tom Ford Beauty was said to have reached revenues of $500 million after a decade, and the brand is considered to be one of the two fastest growing in Lauder’s portfolio, along with Jo Malone. Bobbi Brown, also part of the Lauder stable, took 25 years to reach the billion-dollar mark in 2016, with L’Oréal’s Lancôme finally hitting the milestone in 2015 after 80 years.