At 21, Kylie Jenner has become the youngest billionaire beating Mark Zuckerberg, who became a billionaire at 23.
For the past three years, Kylie Jenner was selling the products of Kylie Cosmetics online and briefly in pop up stores. But before the last quarter of 2018, Kylie signed an exclusive distribution deal with Ulta, the beauty retailer.
Image via: Instagram.com/kyliejenner
They have 1,000-plus stores in the country and this deal played a big role for Kylie Jenner in reaching the billionaire’s mark. After the deal, Kylie Cosmetics was selling $29 lip kits including a matte liquid lipstick and matching lip liner in all of Ulta’s retail stores.
This skyrocketed the sales of her products. She also visited one of the stores at Richmond Avenue in Houston. There she greeted customers, signed autographs and of course posed selfies with her fans.
According to Forbes, after this deal, Kylie Cosmetics sold $54.5 million worth of products in Ulta just in few weeks.
Since last year the revenue of Kylie Cosmetics has increased by 9%, the estimated value of this increment is $360 million.
Forbes estimated Kylie Jenner’s company at $900 million and her overall wealth at the age of 21 this year is around $1 billion. Making her the youngest self-made billionaire in the world.
While talking to Forbes, Kylie expressed her feelings about this tremendous achievement. Talking about her visit at the Ulta’s retail stores, she said.
“I popped up at a few stores, I did my usual social media—I did what I usually do, and it just worked.”
And this is what she has to say about becoming a billionaire.
“I didn’t expect anything. I did not foresee the future. But feels really good. That’s a nice pat on the back.”