How Did Kylie Jenner Become an Entrepreneur? This is an interesting story. It takes advantage of many of the benefits that technology and changing consumer behavior give companies today. This is what growth IQ is all about.
No matter what you think of reality TV, Kylie Jenner or the Kardashians, this great story uses these things to its advantage.
Kylie has become a well-known name in the beauty and fashion industries. By using the attention she got from the TV show Keeping Up With the Kardashians to her advantage. And she did it without an MBA.
In 2012, when she was only 15, she and her sister Kendall worked with the clothing company PacSun. To make a line of clothes called Kendall and Kylie. They call the line Kendall and Kylie, which appeals to teenage girls, who were their natural fans and customers.
The Jenner sisters were named one of the “Most Influential Teens in 2014” by Time magazine in both 2014 and 2015. They have the skills necessary to succeed as entrepreneurs.
Kylie’s brand of cosmetics, called Kylie Cosmetics, came out in 2015 as if all of that wasn’t enough.
What gave her confidence that she could compete with the most well-known companies in the world in the cosmetics industry?
To begin with, she had a strong interest in cosmetics and clothing. Second, she was able to harness a massive platform. Thanks to both the program and her rapidly expanding fan base. Which enabled her to create collaborations with manufacturing and distribution companies.
Third, she saw a gap in the market she could complete. Fourth, she intended to target customers who were teenagers, exactly like herself, as her primary demographic.
Let’s devote some of our attention to the second one for the time being, as it is a significant part of this course. She hit the milestone of 100 million followers on Instagram alone. In December 2017. When she was only 20 years old.
How was it done?
Her social media presence extends to more than 150 million people. Thanks to the more than 24 million people who follow her on Twitter. And the more than 20 million people who follow her on Facebook.
In a nutshell, she had one of the most significant social media followings in the entire world.
They enlarged its initial collection of discrete cosmetic products over ensuing months in two separate ways. As part of a product expansion plan.
One of the directions that the brand went in was the direction of related cosmetic categories. Such as Kyshadows (eye-shadow palettes.) Kyliners (eyeliner.) Snapchat tutorials (which have an average of 10 million views.) A mobile app, and other fashion products.
Thematic product bundles, such as Kylie’s Vacation Edition and Kylie’s Valentine Collection, were an alternative strategy.
Combinations and the completion order are very important to technique outcome for Kylie.
Yes, there’s no doubt that a big part of her success depends on how well she uses her huge platform, but there are limits to how far that will get you.
Being famous might get you in the door, like what happened with Jessica Alba and The Honest Company. But it won’t matter if you don’t have good products, loyal customers, and a good customer experience.
There have been a lot of other (much older and more well-known) celebrities who have tried to grow their brand. By getting involved in business, but they have all failed.
It was very important how this huge increase happened
Before Kylie endorsed any products or made her own, she started by building her own brand.
Next, she set herself apart from her other siblings within the family empire by creating her own sphere of influence. She kept her focus, thereby building a number of different endorsements and relationships.
Then, when she saw that her efforts were paying off, she came out with her own brand. Of “Lip Kits,” made in small quantities and sold for a higher price. They were gone in no time at all.
Those who make this claim may be correct in their assessment of this strategy as a “scarcity” marketing tool. If not, then why did you do that? She has become an expert at identifying her client base. Or, more accurately, her fan base. Catering to their wants and actively pursuing product extension. In order to increase her product range as her customer base matures.
Her marketing strategies, in conjunction with her use of social media, were an essential part of the business’s overall success. As traditional media is being supplanted by social media, it is probable that you will not see an advertisement for Kylie Cosmetics in Teen Vogue. Kylie is pushing the limits of client involvement by utilizing all facets of social media marketing. Including video, Instagram, Twitter, and Facebook.
With an estimated $630 million in annual revenue, Kylie Cosmetics has grown into a full-service, direct-to-consumer (D2C) beauty brand. In less than two years, with no expensive advertising campaigns.
Put everything in its proper context
How does the sales performance of Kylie Cosmetics compare to that of other industry leaders?
After launching his beauty line in 2006, fashion mogul Tom Ford took ten years to reach half a billion dollars in sales. The Lancôme cosmetics line from L’Oréal took 80 years to reach $1 billion in sales. MAC needed 13 years to reach $250 million and another 10 years to reach $500 million. Even during the time when Estée Lauder owned a majority of the company. Before eventually taking it over entirely.
What’s next for Kylie Jenner?
There’s really no telling where she’ll go next. Cosmetics are a natural first step to the huge botanicals market. Supplements. Vitamins. Aromatherapy. Essential oils. There’s a grabbag of wonderful opportunities that someone with Jenner’s instincts, skills, and expertise, could grasp and turn into more thriving enterprises for herself and her family. And her associates. Jenner is known as a generous employer. She is always willing to give credit where credit is most due and share the rewards of her success with many others.