Kylie Jenner may only be 20-years-old, but that hasn't stopped her from building one of the most successful business empires the Kar-Jenner family has ever seen.
The Jenner Communications CEO - AKA Kris Jenner - has confirmed to CNBC that Kylie Cosmetics generated $420 million in revenue in its first 18 months of operation. According to WWD, if those numbers continue Kylie is projected to be a billionaire by the time she’s 25.
“The goal in the future is to just build the whole infrastructure, and figure out what a retail model might look like that could take it globally,” Kris told CNBC’s Courtney Reagan Tuesday. “She’s just scratched the surface and there is so much more to do with the brand.”
Kris said that Kylie Cosmetics is completely self-funded by the 20-year-old star, and there are currently no equity partners.
“Right now she’s super smart about keeping it all in the business,” Kris said. “She owns it 100 percent herself, and she doesn’t have any investors. It makes for a wonderful opportunity to expand.”
The momager also revealed that Kylie has no plans to step away from the business, even with her pregnancy.
“I don’t think she sees herself stepping away from this brand for many years,” Kris said, adding, “She’s doing this because it’s really her passion. It’s so authentic to who she is, because she’s been wanting to do this since she was a little girl. To see her have this kind of success with something she really loves has been really great. ”
Kris also spoke about the wonderful success at the WWD CEO Summit.
“It was always Kylie’s dream to have a beauty brand and makeup company. She said [to me], ‘I really want you to help me do this and figure it out.’ And we tried launching some lip kits and they sold out in minutes, if not seconds,” she shared. “I realized that we have a real viable business on our hands. It was crazy. The fulfillment center couldn’t really get them out fast enough and the site crashed three times. I realized we had to get a manufacturer really quickly that could handle the volume and get a fulfillment center pulled together.”
Kris later spoke about Kylie's charitable efforts, revealing it was her Smile Lip Kit - a partnership with Smile Train - that has been her greatest achievement to date.
“She decided to name a Lip Kit Smile, and she gave all the proceeds to Smile Train, and she was able to make a million dollars. And she was 19 years old and making a difference in the world, and we flew Peru and see a surgery,” Kris said “And those are the things I’m proudest of — when they do stuff like that.”
“Any time your kids do something that’s a success, it makes you very proud and very happy," she continued. "And I think that makes me want to do it even more and work harder for the next one, the next time."
Congratulations to Kylie on her amazing success!