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Kim Kardashian launches a venture capital firm to invest in consumer sectors

2022-09-08T02:42:22.044Z


The famous tries to take advantage of her popularity to do business A recommendation from Kim Kardashian, with 329 million followers on Instagram, can make the difference between the success and failure of a product. With that magic wand in her hand, successful experience in previous businesses and the help of a partner who is both a TV celebrity and an experienced investor, Kardashian has decided to create her own venture capital company. The new firm, SKKY Part


A recommendation from Kim Kardashian, with 329 million followers on Instagram, can make the difference between the success and failure of a product.

With that magic wand in her hand, successful experience in previous businesses and the help of a partner who is both a TV celebrity and an experienced investor, Kardashian has decided to create her own venture capital company.

The new firm, SKKY Partners, defines itself as a venture capital firm that focuses on both controlling and minority investments in high-growth, market-leading consumer and media companies.

Companies of luxury products, fashion, tourism, entertainment, electronic commerce and media fall within the investment universe in which the firm will focus.

Typically, venture capital firms take a stake in a company and try to influence the company's direction to boost sales and improve profitability.

Sometimes they are small companies to help grow and other times, consolidated firms with the possibility of improving management.

Kim Kardashian has co-founded SKKY Partners with Jay Sammons, a former executive of the investment firm Carlyle, where he was dedicated precisely to the consumer sector.

Both will be the managing partners.

The firm will also have Kris Jenner, Kardashian's mother, as a partner, the celebrity announced on Instagram.

"Together we look forward to leveraging our complementary expertise to create the next generation of consumer and media venture capital firms," ​​the businesswoman and celebrity wrote on her social media account.

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.

pic.twitter.com/hstLMRjFeo

— SKKY Partners (@SKKYPartners) September 7, 2022

In 2019, Kardashian founded her firm Skims, of underwear and other clothing, which last January was valued at 3.2 billion dollars in a round of financing.

Kardashian herself continues to advertise her products.

This same Wednesday, after announcing on Instagram the creation of his venture capital firm, he has published an ad for his brand's bras that ensures that they do not bother.

Kardashian has already had success with her beauty business, called KKW, in which she gave entry to the Coty group with the sale of 20% for 200 million dollars, which meant valuing the company at 1,000 million dollars.

Sammons, meanwhile, is also a successful executive in the investment world.

His bet on Beats headphones —which now have their own line with Kim Kardashian as the protagonist— has been one of his great successes.

More controversial was the acquisition of a stake in Big Machine Records, the record company with which she took control of Taylor Swift's songs, her former agent, whom she accused of harassment and had as her great enemy.

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Source: elparis

All news articles on 2022-09-08

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