Kylie Jenner's Business Struggles: Is Kylie Cosmetics Failing?
Kylie Jenner has been one of the most well-known names in the beauty and fashion industries. From building Kylie Cosmetics into a billion-dollar brand to expanding her business empire with clothing lines and alcohol ventures, her journey has been watched closely by the world. However, recent figures and events suggest her business may not be as successful as many believe. Let's take a deep dive into why Kylie Cosmetics is faltering and where her other ventures stand.
Is Kylie Cosmetics Making a Profit?
Once hailed as one of the most successful beauty brands in the world, Kylie Cosmetics has faced significant financial challenges in recent years. The e-commerce sales of her online store, KylieCosmetics.com, have been steadily declining. From $68.7 million in 2017, sales dropped to $36.2 million in 2022 and are projected to decline further to just $29 million by 2024, according to Statista. This alarming trend signals that Kylie Cosmetics may not be the profit powerhouse it once was.
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Why is Kylie Cosmetics Failing?
There are several reasons behind Kylie Cosmetics’ struggles. The rebrand in 2021, which aimed to appeal to vegan beauty enthusiasts, was met with mixed reactions. While the packaging and formula were updated, fans speculated that the changes were more about resolving legal disputes rather than enhancing the product. The lack of passion and innovation in subsequent collections, including the disappointing “Momager” collection with Kris Jenner, failed to excite the brand’s core audience.
Additionally, Kylie Jenner's attempts to appear relatable on social media, especially TikTok, came across as forced rather than authentic. Fans, once drawn to her passion and entrepreneurial spirit, now feel she’s become more of a figurehead rather than an active business owner.
Which of Kylie Jenner's Businesses is Doing the Best?
While Kylie Cosmetics is faltering, other parts of her business empire are faring better. In 2023, Kylie launched Sprinter, a line of canned vodka sodas that hit retail shelves. While it’s too soon to gauge its long-term success, the initial market reception has been positive. She also launched her cruelty-free fragrance line, Cosmic, and the clothing brand Khy, diversifying her portfolio to maintain financial relevance.
However, it remains uncertain whether these new ventures can replace the money-generating machine that was Kylie Cosmetics. Kylie’s attempts to regain control over Kylie Cosmetics, a company she sold for $600 million to Coty in 2020, highlight the difficulty she’s facing in revitalizing her brand.
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What’s Next for Kylie Jenner?
It’s clear that Kylie Jenner is trying to pivot. While she continues to be active on social media, her role in Kylie Cosmetics seems to have diminished. The focus is now on new ventures like Khy and Sprinter, but these are unproven and have a long way to go to match the success of her initial beauty empire. Will Kylie be able to reclaim her throne in the beauty world or will her other business ventures take center stage?
Can Kylie Bounce Back?
Kylie Jenner’s business empire may not be in the stratosphere it once was, but she is undoubtedly a resilient entrepreneur. Whether she can turn Kylie Cosmetics around or build success with her new ventures remains to be seen. One thing is for sure: Kylie will continue to innovate and diversify in an ever-evolving market.
