keilly launched her beauty brand Kylie
cosmetics on November 30th 2015 with a
small collection of $29 lip kits and
what started as a small business quickly
turned a large scale within six weeks of
success
now it's projected to rake in 1 billion
dollars in lifetime sales by 2020
according to WWD in 2016 kylie told
complex I want to be as big as the other
cosmetic brands it's my dream to be on
Forbes and by the age of 21 Kylie had
secured her place on Forbes list as the
world's youngest ever self-made
billionaire but how did she rake in her
fortune so quickly stay tuned to find
out before we let you in to some of the
secrets behind the success of Kylie
cosmetics make sure to like this video
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Kylie Jenner the ten real reasons she
became a self-made billionaire how many
people in their early 20s can say that
they're a billionaire not many and even
less of that small pile can say that
they're self-made but one person who
proudly wears that crown of success is
Kylie Jenner she might not be the most
prominent of the kardashian-jenner clan
but Kylie is by far their riches and
while many people might claim that Kylie
wouldn't have got where she is without
the help of momager Kris Jenner we're
here today to show you all the reasons
as to why Kylie Jenner deserves the
title of self-made billionaire first
start Kylie made a success of herself by
making money from her biggest insecurity
her lips in an episode of life of Kylie
in 2017 she said I had really small lips
and it was like one of my first kisses
and a guy was like I didn't think he
would be a good kisser because you have
such small lips it was an insecurity
that Kylie took to heart and she began
to outline her lips to make them look
larger eventually instead of spending
her time worrying about what people
thought of them she decided to launch a
line of products that would make her
feel better about her lips in an
interview with London's Evening Standard
newspaper Kylie said lipstick is what
helped me feel confident and I feel like
people could see that it's authentic to
me and it was organic and it just worked
when people started rumors that Kylie
had under
on lip fillers she spent some time
teasing the answer before revealing all
around the time of the launch of the
Kylie lip kits the initial stock launch
sold out in less than a minute crashing
the website and resulting in some
impressive profits for Kylie we can't
think of many other people who've used
their initiative in this manner and
found success so quickly despite her
young age and affluent background
Kylie seemed to innately know what she
needed to do in order to successfully
launch her empire Kylie revealed to
British InStyle in 2015 that her mom cut
her off financially at the age of 14
well it seems that her parents still
paid for the essentials kylie quickly
learned some money management skills at
a young age my parents told me I needed
to make my own money she said it's time
to learn how to save and spend your own
money stuff like that what I'm trying to
say is I did have a platform but none of
my money is inherited it's good to hear
that Kylie acknowledges that she came
from a good background but it's clear
that it was her own money that went into
the business Kylie said that she spent
every last time launching the business
without even knowing whether or not it
would be a success luckily she decided
to take the risk and in only a few short
years converted her small business to
one that was taking home millions which
definitely puts Kylie up there with the
best business masterminds in the world
while many businesses fail or at least
don't make the big bucks due to their
overhead costs Kylie seemed to sidestep
that issue entirely problems like staff
salaries customer service
representatives and marketing all cost
money
the solution obviously is to avoid all
of those issues and Kylie managed to do
just that
even though Kylie cosmetics might be
worth millions of dollars it only
actually employs seven full-time and
five part-time employees when it comes
to manufacturing and packaging
Kylie's outsourced at all 2-seed Beauty
a private label producer in nearby
Oxnard California sales and fulfillment
are also outsourced to the online outlet
Shopify and we don't need to waste time
talking about marketing because Kylie's
ridiculously huge social media following
does everything she needs when it comes
to promoting her brand if huge
corporations will pay Kylie millions of
dollars for a spot on her
well-established Instagram page you can
bet your dollars that she'll use it to
promote her own
company - when we talk about overhead
costs you might have realized that we
missed one crucial overhead from our
list the price of renting a store to
launch the business in many new
companies fail because of this usually
unavoidable cost while you'll now find
her products in Ulta stores she started
out by selling Kylie cosmetics only
online
Kylie waited until she had enough of a
begging market before she started
selling her products in stores so that
she was guaranteed sales and instead of
launching her own Kylie cosmetics store
she decided to simply stop the products
in an already successful store and even
when she chose to launch an in-store
version of her cosmetics line she
staggered the release to once again
ensure success at first only the lip
kits were available in Ulta stores
across the nation
previously she'd created pop-up stores
to sell some of her famed products for
makeup lovers across the state's
rejoiced at the fact that they could
soon buy their favorite products at a
counter rather than online there's also
one other crucial area that doesn't hold
Kylie back when it comes to sharing her
fortune the vast majority of companies
are made up of various senior
individuals who all have their own
specialties you'll have someone in
charge of content someone in charge of
marketing and someone in charge of
finances but Kylie managed to avoid all
of this by taking on all of the roles
herself
Kylie is chief executive officer chief
marketing officer and chief content
officer for Kylie cosmetics and perhaps
even more crucially she's also free of
investors who would want their chunk of
her profits
Kylie launched her business by using
money made from modeling which means she
wasn't reliant on anyone else's cash to
make it big and as a result all of those
sweet dollars coming her way are
entirely hers these are some of the
reasons as to how Kylie's business plan
led her to becoming a billionaire but
there's also a common business technique
that Kylie's used to make sure her
products are always at the forefront of
her consumers minds once they're on the
market if you've ever looked on the
Kylie cosmetics website you'll notice
that many of the products seem to be
sold out sometimes they'll be an update
explaining when you can get your hands
on the lip kits and other products again
other times there'll be no information
at all and you'll have to go straight to
Kylie's Instagram or snapchat to get all
the details but while that in itself
might be a good way to drive traffic
to her social platforms that's not
actually the trick instead the trick is
what she's announcing on her profiles
Kylie uses the method of FOMO fear of
missing out to sell her products they're
usually available in small batches on a
limited edition basis so if you don't
buy them the second they're released you
probably won't get a hold of anything
when Kylie announced that the lift kits
were coming out she garnered so much
attention on social media that the
website crashed then so many people
tried to buy her products at once that
items supposedly in the bag and ready to
be purchased vanished because they were
already out of stock Twitter went mad
and people started reselling the kids on
eBay for hundreds of dollars suddenly it
was common to see these $29 lip kits on
sale for almost a thousand dollars and
let's take a minute to focus on Kylie's
social media following because it's
worth talking about Kylie Jenner is the
world's most watched person on snapchat
and she uses that fame to her advantage
the same way that businesses will show
behind the scenes snaps or sneak peeks
at their new products Kylie likes to
show her audience what to expect next
from Kylie cosmetics whenever there's a
new bout of lip kits about to hit the
shelves you'll see Kylie trying them all
out first documenting her favorite
shades and experimenting with new colors
and snapchat isn't the only platform
that Kylie's using as a form of PR for
her makeup range as of March 2019 Kylie
has 129 million followers on Instagram
and 26 point eight million on Twitter if
Kylie wants the world to know about
something she's got a ready and waiting
audience to absorb it and follow every
word she says and what's even better
than showing the packaging around the
product is the fact that Kylie makes
sure to swatch each of the colors so her
audience is able to see what they look
like on the face two other companies
have to use a dedicated social media
manager for years to reach the audience
that Kylie accumulated in a matter of
month but Kylie's followers don't just
buy her products because they appreciate
the colors and shades of the designs one
of the many reasons as to why Kylie's
amassed such a huge fortune from her
business is because her fans are also
buying into her lifestyle Kylie Jenner
is hugely successful she's got the good
looks the business brain and she really
seems to have it all she spends her days
hanging out with friends driving
luxury cars and generally living the
life there aren't many people who
wouldn't want to live like she does so
when Kylie posts a picture of her latest
lip kit on Instagram her followers are
buying into her lifestyle in the hope
that they can achieve that too let's
look at the origin of the lip kits Kylie
was accused of getting lip fillers when
she was only 16 years old she had first
strongly denied the rumors and shut them
down people started to wonder what crazy
products she'd been using to make her
lips look so much plumper than before
then Kylie launched her supposedly
miracle product to lip kits before
revealing that actually if she had
temporary fillers injected to give her
more confidence some might call it a
trick others could call it not so subtle
marketing but Kylie's business hasn't
just been dependent on her own
promotional techniques as you've already
learned Kylie earns about a million
dollars a pop every time she promotes a
brand on her Instagram so clearly many
companies have caught on that the way to
ensure financial success in a business
is to make sure some pretty important
people are wearing your products luckily
Kylie's had a ready-made group of people
at her beck and call when it comes to
promoting her lip kits and other
products that's right we're talking
about the rest of the Kardashian clan
and as Kylie Cosmetics has grown in
popularity over the last few years
magazines have latched on to not only
the shades that Kylie wears but also
those favoured by her sisters
Kylie's business brain might have
encouraged this by naming the shades
after her family members Kourt K Coco K
and Mary Jo Kay are all named
accordingly and it certainly helps that
Kylie spent her childhood and younger
years dealing with multiple strands of
business that had her name at the
forefront her first venture was back in
2011 when Kylie reportedly pocketed
around $100,000 alongside her sisters
for promoting an OPI nail varnish line
named Kardashian color and Kylie's had a
look inside some other top names in the
industry since then she debuted a
clothing line with sister Kendall for
PacSun in 2013 and a pair then partnered
with Steve Madden on a line of
California inspired shoes and handbags
in 2014
since then you'll have seen her face
modeling for brands like ball men as
well as launching her own collections
with Puma serving as a brand ambassador
for skincare line in Nippon fab and
appearing in a bow mat and beats by dr.
dre caliber
and campaign it's clear that by the time
she hit 20 years old Kylie had
experienced a great look inside the
world of business and all of that came
together to give her the perfect
foundation for launching Kylie cosmetics
that's all for Kylie Jenner the ten real
reasons she became a self-made
billionaire do you think you could have
launched a similar business in this
situation let us know your thoughts in
the comments below thank you for
watching and we'll see you next time