Kylie Jenner made headlines this week after it was announced that she has become the world's youngest ever self-made billionaire according to Forbes.
The news has been received with a mix of opinions; many people questioning whether she can really be titled 'self-made' given the privileged background she has came from and others congratulating Kylie for her rapid rise to success.
The 21-year-old founded Kylie Cosmetics in 2015, and a mere 4 years later that company is responsible for her nabbing the title of youngest ever self-made billionaire.
Kylie explained in an interview with Forbes that at the age of 15 she was told by her parents to start making her own fortune. With an already impressive following on social media, down to her family's global recognition through reality show 'Keeping up with the Kardashians', Kylie had the perfect platform from which she built her beauty empire. In 2015, Kylie caused controversy after cosmetically altering her lips using "lip fillers". The same year, Kylie Cosmetics was launched selling the Kylie "lip kit" which sold out within a minute. Following the success of the infamous "lip kits", Kylie then released eyeshadows, eyeliners and other cosmetics. Teamed with a heavy presence on all social media platforms, the Kylie brand grew exponentially to what it is today.
During the process of building her empire, Kylie has undoubtedly had some business lessons along the way. In October 2018, we reported on the lawsuit filed against Kyle Cosmetics by fellow cosmetics brand Sheree Cosmetics. The claim alleged trade mark infringement in Kylie's 'Born to Sparkle' range. The full article can be read here. In 2016, Kylie Cosmetics was accused by makeup-artist Vlada Haggerty of copying her famous lip drip artwork and in 2015, a flurry of counterfeit Kylie "lip kits" made headlines when consumers conned into buying them suffered allergic reactions. Kylie has also had a long-running battle with the original "Kylie" – Minogue. Kylie Minogue is synonymous with just "Kylie" and has prevented Kylie Jenner from registering trademarks for just the word "Kylie" on that basis.
Despite these hiccups, the Kyle Cosmetics brand shows no signs of slowing down.Posted by: in: Companies, Legal News, News