Kim Kardashian expands her portfolio with a private equity business
The star of reality television Kim Kardashian has created her own private equity company with a former business colleague from the Carlyle Group. SKKY Partners, according to a tweet, will concentrate on funding consumer and media enterprises. Ms Kardashian will act as a co-founder and co-managing partner, while Jay Sammons will handle the day-to-day operations of the firm. Kris Jenner, the mother of Ms. Kardashian, will also work as a partner in the company.
The reality star-turned-entrepreneur wrote in a tweet, "Together, we intend to harness our complementary talents to develop the next generation Consumer & Media private equity firm. Former global head of consumer, media, and retail at the American multinational investment firm Carlyle Group, Mr. Sammons is her business partner.
According to his LinkedIn page, some of his clients included well-known companies including Supreme, Beats by Dr. Dre, Vogue International, Moncler, and McDonald's China. According to Forbes, the reality star, who rose to fame after making an appearance on her family's television programme "Keeping Up With the Kardashians," has recently had entrepreneurial success and is estimated to be worth $1.8 billion. She introduced the shapewear brand Skims in 2019, and The Wall Street Journal estimated its value to be $3.2 billion in January. Earlier last year, the entrepreneur also introduced the skin-care line SKKN BY KIM.
The 41-year-old joins celebrities like Gwyneth Paltrow, Leonardo DiCaprio, and Ashton Kutcher in starting their own private equity and venture capital investing organisations.