If there’s one thing about the “Kar-Jenner” women, it’s that they continuously prove they can do it all. From 818 Tequila to Good American jeans, there is no business venture unexplored by a “Kar-Jenner”.
On September 8, Kim Kardashian launched SKKY Partners with Jay Sammons, a former partner at the Carlyle Group investment firm. SKKY will be a consumer and media-focused private equity firm.
“Together we hope to leverage our complementary expertise to build the next generation Consumer & Media private equity firm,” Kardashian wrote on Twitter. SKKY partners later took to Twitter and wrote that the firm will also target luxury, digital, and hospitality sectors.
Photo retrieved from https://www.digitaltveurope.com/2022/09/09/kim-kardashian-launches-media-focused-private-equity-firm/
Sammons has worked with large firms such as McDonald’s, Supreme, and Beats by Dr.Dre, and . He will now work closely with Kardashian by maintaining daily operations at SKKY.
Kardashian isn’t the first celebrity to dive into the private equity and venture capital industry. Celebrities like Leonardo Dicaprio, Serena Williams and Gwyneth Paltrow are all involved in their own private equity firms as well.
Additionally, Kris Jenner will also take a stake in the equity firm, although SKKY has yet to raise any capital to secure those investments, according to the Wall Street Journal.
This isn’t the first time Kardashian has dipped into the world of finance and investing. In 2021, Kardashian posted a series of Instagram stories highlighting crypto stock EthereumMax. Although the story post was tagged as an advertisement, Kardashian didn’t disclose that the bitcoin had only been created a month earlier. A class action lawsuit was filed this year, claiming that celebrities like Kardashian mislead consumers.
However, Kardashian has gained success with her latest business ventures, Skims, a loungewear and shapewear brand and SKKN, previously known as KKW Beauty, a skincare and makeup brand. In January, Skims was valued at $3.2 billion.
Kardashian’s involvement in SKKY, is likely an early sign that more celebrities will continue to lean into financial, private equity, and venture capital options as a way to further invest their wealth.
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