According to Forbes , after more than a decade of tricks on television, the Kardashian – Jenners family has bored the media and fans. However, everyone is very curious about the fortune this wealthy family holds. The Kardashian – Jenner family also brags about their wealth many times.

At the end of 2019, Kylie Jenner sold 51% of Kylie Cosmetics Company shares to Coty Cosmetics Group in a deal worth 1.2 billion USD. This is considered an important moment for the Kardashian – Jenner family and is proof that Kylie Jenner has become a USD billionaire.

Forbes recognized that in March 2019. Coty President Peter Harf praised the famous Kardashian – Jenner: “Kylie is a symbol of the new era.”

But Coty’s financial records show that Kylie Jenner’s company has a much lower scale and revenue than the “heavenly” promotions of the Kardashian – Jenner family. The wealthy family gave the media, including Forbes , a “fool”.

The Kardashian – Jenner family emerged from scandals. Photo: Getty.

Always exaggerate everything

Forbes affirmed that Kylie Jenner and her mother once invited reporters from this magazine to their home and office, and even faked rental records to “prove” their billion-dollar wealth.

“Everything the Kardashian – Jenner family has ever done is hyped. To keep the brand hot, they resort to this tactic,” commented Stephanie Wissink, consumer products analyst at Jefferies.

Based on the data collected, plus the impact of the Covid-19 epidemic on beauty and consumer products, Forbes determined that Kylie Jenner is not a USD billionaire, even after she earned 340 million USD proceeds from selling company shares.

Like other members of the Kardashian – Jenner family, Kylie Jenner started her business from a scandal. For more than a year, she denied rumors of lip fillers before confessing the truth in May 2015. But Kylie Jenner is not shy. Instead, she and her mother – Kris Jenner – turned the incident into a product marketing opportunity.

With a capital of 250,000 USD earned from modeling, advertising and reality TV actress, Kylie Jenner sold 15,000 sets of beauty products, including lip liner and lipstick, in November 2015. Thanks to Kylie Jenner’s clever Instagram marketing, every $29 cosmetic set sells out in less than a minute.

Kylie Jenner takes advantage of scandals for business. Photo: Getty Images.

At the end of 2016, Kylie Jenner launched a series of products and affirmed her reputation in the cosmetics industry. Immediately after Kim Kardashian appeared on the cover of Forbes in July 2016, the Kardashian family launched a campaign to convince Forbes to put Kylie Jenner on the cover.

Ms. Kris Jenner affirmed that Kylie Cosmetics achieved revenue of up to 400 million USD in the first 18 months. Kylie Jenner alone pocketed $250 million. The Kardashian – Jenner family provided Forbes reporters with tax records, showing that the company had revenue of 307 million USD in 2016 and Kylie Jenner earned more than 110 million USD that year.

These documents appear to be completely authentic. However, evidence Forbes later collected showed that the Kardashian – Jenner family had inflated Kylie Cosmetics’ business results.

Convincing lie

After consulting with analysts and cosmetics industry experts, Forbes estimated that in 2017, Kylie Jenner earned $41 million. Mrs. Kris Jenner was very disappointed with Forbes’ decision. Two months later, fashion magazine WWD published an article using the numbers the Kardashian – Jenners family had given to Forbes .

“According to Kris Jenner’s revelation, Kylie Cosmetics’ retail sales reached more than 420 million USD in just 18 months. This is bad news for leading cosmetic brands,” the magazine wrote. Immediately, newspapers and news agencies such as People, Fortune and CNBC republished this information, causing a stir in public opinion.

In 2018, Forbes recalculated Kylie Jenner’s net worth and put her on the list of the wealthiest self-made businesswomen. Kylie Cosmetics’ revenue statistics continue to increase. Oppenheimer even predicts that Kylie Jenner’s company revenue will reach $700 million by 2020.

In July 2018, Kylie Jenner appeared on the cover of Forbes , as expected of the Kardashian – Jenner family. She was ranked 27th by Forbes on the list of richest self-made businesswomen. At the age of 20, she was determined to own assets of 900 million USD, and will soon become the youngest self-made USD billionaire ever.

“Thank you for this article and recognition,” Kylie Jenner wrote on Instagram. And Mrs. Kris Jenner was finally satisfied: “I’m very proud.” By early 2019, Kylie Jenner was officially recognized as a USD billionaire with a fortune of about 1 billion USD.

Kylie Jenner was recognized as a USD billionaire in early 2019. Photo: Getty Images.

All doubts about Kylie Jenner’s assets seemed to be completely erased in November 2019 when Coty announced an agreement to buy 51% of Kylie Cosmetics’ shares for $600 million. With this deal, Kylie Cosmetics is valued at $1.2 billion.

However, figures released later showed that Kylie Cosmetics’ business results were not as “huge” as what the Kardashian – Jenner family boasted. Sales in the 12 months before the agreement with Coty only reached 177 million USD. Total sales in 2018 only reached 125 million USD, far below the 360 ​​million USD that Ms. Kris Jenner affirmed.

Kylie Cosmetics announced that its skin care product line launched in May 2019 achieved revenue of 100 million USD in the first month. However, financial records show that in the whole of 2019, this product line only brought in a mere 25 million USD.

The truth is exposed

The business results of previous years may even be much lower than what the Kardashian – Jenner family announced. Financial experts emphasize that with sales of 125 million USD in 2018, Kylie Cosmetics certainly cannot reach 307 million USD in 2016 and 330 million USD in 2017.

A survey by e-commerce company Rakuten showed that online sales of Kylie Cosmetics decreased by 62% from 2016 to 2018. Analysts emphasized that there is absolutely no such thing as the revenue of a famous brand. The sound collapsed as quickly as Coty’s records indicate.

The fact that the Kardashian – Jenner family inflated the business results of the first phase of Kylie Cosmetics is the only explanation. “The Kardashian – Jenner family has lied since 2016 and falsified tax records to convince us that Kylie Jenner owns a large fortune,” Forbes affirmed.

Based on the numbers provided by Ms. Kris Jenner, Forbes initially determined that Kylie Cosmetics’ profit margin was up to 44%. But Coty documents show the actual number is only about 25%. Additionally, Kylie Jenner only owns 44% of Kylie Cosmetics, not 49%.

Kylie’s cosmetics company’s revenue is not as large as it actually is. Photo: Getty.

After recalculating, Forbes concluded that Kylie Jenner is not a USD billionaire and her total personal assets are less than 900 million USD. More than a third of that came from the $340 million sale of company shares. In addition, the valuation of Kylie Cosmetics has certainly decreased sharply compared to November 2019 due to the terrible impact of the Covid-19 epidemic.

In fact, Coty’s stock price has plummeted more than 60% since the deal with Kylie Jenner was signed. Even better-performing competitors like Ulta Beauty and Estée Lauder are also reeling from the impact of the pandemic originating in Wuhan (Hubei province, China).

“As usual, we asked the Kardashian – Jenner family to provide numbers for this article. But when asked about unclear points, this famous family who loved to go to the newspaper did something completely contrary. with their habits. They were silent and did not answer us.”