Kim Kardashian will invest in luxury and consumer product sectors

Reality TV star and beauty mogul Kim Kardashian has announced her latest business venture – the launch of a private equity fund.??

The focus of SKKY Partners will be to invest in luxury and consumer product sectors, as well as media businesses. The company will be founded and managed by Kardashian herself, alongside veteran investment expert Jay Sammons. However, the former head of US investment firm Carlyle Group will be in charge of the day-to-day running of the firm.?

Sammons has plenty of experience investing in celebrity-backed ventures. During his time at Carlyle, he steered the company into investments into the likes of Beats by Dre headphones, and the acquisition of a stake in Big Machine Records.??

Other partners in SKKY include Kim Kardashian’s mother and former manager Kris Jenner.??

So far, SKKY Partners hasn’t provided a public statement or further details on its planned activities. It has a minimal website and barely populated Twitter feed, but its very first tweet stated :?

“Introducing SKKY Partners, a private equity firm co-founded by Kim Kardashian and Jay Sammons that focuses on both control and minority investments in high-growth, market-leading consumer and media companies.”?

SKKY Partners will join Kardashian’s existing portfolio of brands and companies, including the wildly successful shapewear label Skims.??

Plus, the much-loved beauty brand SKKN BY KIM, which describes itself as: “an innovative line of uncompromising skincare developed by Kim Kardashian. Through a visionary nine-product ritual, SKKN BY KIM delivers nourishment, renewal, and an indulgent at-home experience.”?

A new era of celebrity-backed private equity investment??

On launching the company, Kardashian becomes the latest celebrity figure to move into the investment and finance world.?She’ll join such high-profile company as legendary tennis star Serena Williams, who recently announced her retirement from sport to launch Serena Ventures. It recently invested in Rare Beauty founder and actor Selena Gomez’s company Wondermind, a start up focusing on mental health.??

And of course, carving the way for these latest celebrity moves into the world of luxury and consumer product investment is Hollywood star Gwyneth Paltrow. The Goop founder is not only known for her beauty empire, but also investments in a large number of beauty startups. These include online beauty store Thirteen Lune and ‘clean’ cosmetics brand Saie Beauty.??

Commenting on this latest trend, Mark Vandevelde writing in the Financial Times said:?

“It reflects the increasing financial sophistication of a generation of entertainers, who have greeted fragmenting audiences and the rise of online platforms as an opportunity to monetise their personal brands without ceding value to the old-line media companies that once served as gatekeepers.”?

Looking for your next role in beauty, cosmetics, wellness or personal care? Or perhaps you’re looking to hire the brightest talent to drive your business forward. Whichever is the case, our specialist recruiters here at Lavandi Talent are perfectly placed to help.??

Get in touch to find out more – call us on 0161 399 1200 or email [email protected] and we’ll get right back to you.??