I was reading news and came across this lady:
Who is she?
Her
name is Kylie Jenner. She is the world’s youngest billionaire at the
age of 21. She has broken Mark Zuckerberg record of the youngest
billionaire at the age of 23.Kylie Jenner: $900M. Kylie was just
named one of America's richest self-made women by Forbes. Her lip kit
cosmetic business is estimated to be worth $800 million after only
launching two years ago.
What is her business?
- She is a social media influencer and the owner of a cosmetic company named Kylie Cosmetics.
- Kylie has around 128 million Instagram followers. She has 26.7 million followers on Twitter.
- One of the examples of her influence is when she twiteed that she is bored with Snapchat, it wiped off $1 billion from the company’s stock market
- Now let me explain a bit about her business
- She has a total of 12 employees. 7 full time and 5 part-time.
- Her company does not manufacture the product. Manufacturing and packaging is outsourced to Seed Beauty, a private-label producer in nearby Oxnard, California.
- Her company do not even have its own sales team. Sales and fulfilment are handled by
- online merchant Shopify.
- Her day to day management and PR is managed by her mom with her 12 member staff.
- Entire marketing is done by social media.
- Sales are driven higher by Jenner sparking FOMO (fear of missing out) among her fans with warnings that collections are in very limited quantities. Her initial stock of $29 “lip kits” – matching lipstick and lip liner – sold out in less than a minute, crashing the website.
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