When it comes to business, Kim Kardashian seems to be unstoppable at this point, with the Wall Street Journal revealing that the reality star is set to launch a private equity firm that will invest in other consumer and media businesses. In partnership with Jay Sammons, a former partner at Carlyle Group Inc, the two have founded SKKY Partners, which will also invest in sectors such as hospitality, luxury, and digital commerce, the publication reports.
In her statement, Kardashian said that her ultimate goal with this exciting project will be to bring her own business expertise in helping other companies thrive. “The exciting part is to sit down with these founders and figure out what their dream is,” she explained. “I want to support what that is, not change who they are in their DNA, but just support and get them to a different level.”
Her latest business venture comes just months after her Skims shapewear line was valued to be worth a whopping $3.2 billion in January, and now she’s hoping to replicate that success with her skincare line SKKN By Kim, which she launched back in June. According to Forbes, the 41-year-old has amassed a $1.8 billion net worth, with a huge portion of that sum stemming from her skyrocketing companies.
January proved to be an exciting month for Kardashian when her Skims clothing line was said to have doubled in value from its previous $1.6 billion in April 2021, according to Bloomberg. During its latest round of funding, Kardashian secured an impressive $240 million in funding, Forbes reported at the time followed with an exclusive partnership to create shapewear with designer brand Fendi.
“This latest round will allow us to focus on bringing more innovations and solutions to our customers and become even more of a trusted resource for them,” the reality star-turned-businesswoman said.
The Fendi x Skims collaboration became such a success among its core consumers that both companies decided on a second drop the following month, reaching a staggering amount in profits for both companies. In the first 60 seconds of going live on the Skims website, the line made $1 million and prompted most of the items to be sold out.
Interview Magazine 🇺🇸 September 2022: American Dream Issue ✨ pic.twitter.com/lxa1fMCD12
— Kim Kardashian (@KimKardashian) September 6, 2022
Speaking of their continued plans with the direction of Skims moving forward, Kardashian’s business partner Emma Grede told Hypebae, “We see an opportunity with Skims to create our own category in retail, just like how we believe Lululemon and Starbucks created their own categories in their respective areas.”
“That’s really why we’re doing this, to make sure we’re best prepared for the future.”