Thanks to Kylie Cosmetics and a new deal with beauty retailer Ulta, Kylie Jenner has an estimated $1 billion fortune. “It’s the power of social media,” she says. “I had such a strong reach before I was able to start anything.”
“It’s the power of social media,” Jenner says. “I had such a strong reach before I was able to start anything.”
Ulta and Jenner are a sensible pairing. With Ulta’s mix of pricier prestige brands, like MAC Cosmetics, and cheaper selections, such as Nyx Professional Makeup, it has a larger footprint than that of its closest competitor, the more expensive Sephora. Analysts say Kylie Cosmetics is drawing younger customers through Ulta’s doors—teens who might not have a credit card to shop online.
“She did well online, but there’s only so far that that can take her,” says Shannon Coyne, an equity research analyst at BMO Capital Markets. “She probably realized: ‘If I want to get big, I’ve got to scale, and to do that, I need a partner.’ Ultimately, she wants to grow her brand, and she needs this store presence to do that.”Indeed, Kylie Cosmetics has seen its growth slow rapidly lately.
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