Kim Kardashian’s Billionaire Skincare Business: SKKN
According to Forbes, Kim Kardashian has recently been announced to be joining the Billionaire club, alongside 493 new billionaires from last year. Now, there are around 2755 global billionaires who have been on the Forbes annual list of world billionaires, which did at one point include Kylie Jenner, who has recently been removed from the list. During the pandemic, there has been record breaking sells for many of these billionaires, with rapid fire public offerings, surging cryptocurrencies and skyrocketing stock prices. Roughly every 17 hours there is a new billionaire alongside 98 more from the US alone, with approximately 210 from China and Hong Kong. This year, Kim has seen record defining sales from both her businesses, KKW Beauty which is her cosmetic brand and Skims, her shape-wear brand. She has also received much of her revenue from her families tv-show Keep up with the Kardashians, which has been announced to end in 2021.
So, whats the next step for Kim Kardashian?
According to Business of Fashion (BOF), the mega-influencer Kim Kardashian is getting into the on-going trend of skincare, trade-marking ‘SKKN’ for an upcoming entrepreneur business opportunity in March. The trade-mark has been connected to business specialisms including hair-care, nail products and other related categories. Coty, the organisation that is intricately connected to Kylie cosmetics, announced in January that the group will be taking a 20 percent stage in Kim Kardashians beauty business KKW Beauty, which further mentioned that they would be announcing plans to debut skin care in 2022, following the similar path with Kylie.
Understandably, skin-care is the next business venture to take for Kim Kardashian, and, with her new announcement of becoming an established billionaire, creates potential hype towards SKKN. Given the loyal fanbase that Skims and KKW Beauty has generated, it should be rather expected from her consumers that this was a necessary next step in her journey to expand her business umbrella as well as solidifying her position as a billionaire and a successful CEO.
The Kardashian/ Jenner family have substantial impact on how their businesses grow, mainly through the collaborations of one another businesses, with Kylie Cosmetics x SKKN expected to have an early product to build a new clientele. More collaborations include a skin-line collection connected to Khloe Kardashian, Kourtney Kardashian and even Kris Jenner. However, there are some issues surrounding how honest they are when it comes to product marketing. It is known that their images are “heavily” edited by the main audience on social media sites like Instagram, so questions raise on how impactful their products will be realistically. Many articles disclose the toxic relationship between the family and their fans, discussing how the Kardashians “over-editing their photos to look more appealing, exaggerating their bodies and faces, with or without makeup.” Khloe has especially had feedback on this dilemma, with fans being extra critical and saying that she “changes her face” in every photo she posts due to an over-edit.
It’s expected that when SKKN comes out, there will be many conversations related to the issues presented. But, with many controversies surrounding their other businesses that still get sold-out almost immediately, It could be forecasted to be ineffective or even helpful for the brand. With the continued success and ability to expand on all her businesses and growing status as a impactful CEO of beauty, SKKN can be seen as a next accomplishment in progress for Kim Kardashian.