Ever since 19-year-old 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.
The socialite who turned 20 recently launched her beauty empire Kylie Cosmetics in 2016, and according to mum Kris, she disclosed that Kylie Cosmetics has made $420 million in retail sales since its official launch 18 months ago. It’s the first time the TV family has shared financial details of their youngest child’s company.
In the interview Kris had with WWD she explained that the first three products hit kyliecosmetics.com in November 2015, but because there was a three-month lag before the second “drop” in February 2016, they technically don’t count the time between because there was no product to sell.
It was in the lag months that Kris and Kylie embarked on their partnership with the current manufacturer, California-based Seed Beauty, which is also the parent company of ColourPop. Seed Beauty does not have equity in Kylie Cosmetics.
Kylie Lip Kits formally became Kylie Cosmetics in February 2016, with a relaunch of the three original lip kits and three new shades for Valentine’s Day. The initial line in November 2015 was seen as a test and only 5,000 of each $29 matte lipstick and corresponding lip liner were made (or 15,000 units total). Less than three months later, production was boosted to 500,000 units of all six shades. Today, about 300,000 units are produced of each product.
Almost 2 years after its launch there are no signs of slowing down. The brand is estimated to make a staggering $386 million in 2017 and definitely on the right track to becoming the next billion-dollar company.