Since November 2015, Kylie Jenner has been a huge force within the beauty industry when she launched the first three shades of her Kylie Lip Kits that sold out within minutes. Original guesstimates of the line were ranging from $50-$300 million, but now it seems that Kylie Cosmetics could be reaching the $1 billion sales mark by 2022.
This year, the cosmetics line is expected to hit the $386 million mark, which is up 25 percent compared to last year, a huge accomplishment for the young beauty guru. To put these numbers in perspective, it took Tom Ford Beauty 10 years to reach the $500 million mark, 25 years for Bobbi Brown to hit the billion dollar mark, and 80 years for Lancome to reach that mile stone.
After the first “drop” of the kits in November 2015, there was a lag of sales, according to Kris Jenner, because there was simply nothing to sell until the following “drop” in February 2016. In the time between those two launches, the Jenners embarked on their partnership with current manufacturer, Oxnard, California-based Seed Beauty, which is also the parent company of ColourPop.
Kylie Cosmetics completely capitalized on the way the market is moving, using social media as the number one tool to promote sales. Kylie has an Instagram base 96.4 million followers. The line has now moved away from only selling lip kits, and has started producing cosmetics for the face and eyes as well which, telling by the numbers, has no end in sight.
We look forward to seeing what the young entrepreneur will do next and how big the cosmetics company will grow in the future. For more information on Kylie Cosmetics, visit the brand’s website.