Kylie Jenner’s Company Could Suffer the Same Fate as Martha Stewart’s Living Omnimedia
Who hasn’t heard of Kylie Jenner, the founder of her namesake cosmetics line and was hailed the youngest self-made billionaire? Everybody knows her and it’s because of her powerful social media presence that undoubtedly was instrumental for the success of her makeup empire.
In fact, several financial outlets have already celebrated Kylie’s genius hack: to use her popularity and online following to her advantage. If it’s not yet clear, she is a member of the famous Kardashian-Jenner clan, whose controversial lives are well-documented via their E! reality show.
Her big sisters Kim Kardashian, who used to be known as the stunning person beside Paris Hilton in gatherings but has come to carve her own path; Khloe Kardashian, who started the Good American Jeans line; Kourtney, who launched lifestyle brand Poosh; and Kendall Jenner, a highly sought model, have already made it easy for Kylie to become a public figure.
As such, cementing her status as a celebrity was easy-peasy – this is what she used to help Kylie Cosmetics reach its peak. Since its inception in 2015, the business had come a long way, from helping her become a billionaire when she was 21 to the majority of which being sold to Coty Inc.
In short, Kylie has definitely made wise moves for her business to grow, and that’s largely thanks to her marketing style that doesn’t cost her a single penny.
By being a social media superstar, she uses different sites to advertise her products and the best part of it is that she doesn’t need famous faces to model her products because she herself is already one.
But while it is known to be an effective strategy for the 22-year-old, could it be heading the same trajectory as that of Martha Stewart’s Living Omnimedia? Andreessen Horowitz partner Li Jin thinks so, citing that the brand is too focused on her.
Martha’s media business thrived well in the ‘90s up until 1997, where it was offered publicly. Like Kylie, the 78-year-old used her celebrity appeal to popularize her books, shows, and other products.
Sixteen years after its IPO, wherein the company was valued at $1.8 billion, Living Omnimedia is already worth a meek fraction of that amount. If Kylie wants her empire to live longer, she might want to slow down in relying on her stardom to fuel her business, Li recommended.
He also noted the sense of a purpose brand, wherein a company focuses more on the mission, emotion, or idea rather than a persona. Especially in this digital age, Kylie needs to make sure her business remains relevant.
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