The August 31st edition of Forbes Magazine will include the 60 richest self-made women, including Kylie Jenner, the youngest person in the ranking with her worth at $900 million, and in another year of growth, the youngest self-made billionaire ever. She has successfully leveraged her assets to gain increased fame and wealth, but overall she credits social media for her continued growth and success:
When starring in Keeping up With the Kardashians at age 10, Kylie's family members each had their own empire. Whether it be Kendall's modeling career, Kourtney's clothing line, or even Rob's socks, young Jenner struggled with what she wanted to do on her own. She explained that ever since she was in elementary school she wore bright eyeshadows and other makeup products to make her feel more confident. Her biggest insecurity was her lips, and thus the "Kylie Lip Kits... for the perfect pout" were born.
Though her products are selling in and of itself, ultimately all she has to do to make sales is leverage her social media following, and she agrees:
Kylie isn't the first to accredit her marketing success to social media, as the beauty industry, in particular, has always been driven by influencers. Anastasia Beverly Hills, for example, exploded when they joined Instagram in 2013 and started sending influencers free products to promote on their pages. After blogging for three years about cosmetics, Huda Kattan, 34, started her makeup line and now has over 26 million followers and a net worth of $550 million.
Kylie's individual success, however, far exceeds many of the other influencers in the industry. With her already massive and loyal following from the reality show, Jenner was able to kickstart her line on her personal Instagram profile and her kits sold out in less than a minute.
By just sitting at home and posting a photo, Kylie and her business can flourish, but the question is, for how long? In a world where Generation Z can dominate sales and consumes whatever they see on social media, we can't help but wonder how far social media will expand and what will come next for both the platform and Jenner. We congratulate Kylie for her success as a determined, female entrepreneur, and are excited to see how social media can progress more and more businesses in the future.
Story By: Krista Smith