Celebrity
Kim Kardashian Launches Private Equity Firm ‘SKKY Partners’
The private equity will focus on investments across industries, including commerce.
Another business venture is added to the resume of, Kim Kardashian. The reality TV star has launched a private equity firm, ‘SKKY Partners,’ focusing on investments across industries, including consumer products, e-commerce, media, and entertainment. 41-Year-Old Kim teamed up with Jay Sammons, an ex-Carlyle executive who had invested in brands like Supreme and Beats by Dre.
Together, the duo plan on both control and minority investments in other companies.
As per Wall Street Journal, Kim plans to leverage her experience as a founder and executive to boost other companies. Sammons will run the day-to-day operations at SKKY, which will maintain a presence in Boston and Los Angeles. Reportedly, the launch came as Sammons approached Kim and her mom, Kris Jenner, with the idea to co-found a firm. Kris is allegedly one of the firm’s partners.
“The exciting part is to sit down with these founders and figure out what their dream is,” Kim said in an interview with Wall Street Journal.
She added: “I want to support what that is, not change who they are in their DNA, but just support and get them to a different level.” According to the mom-of-four, SKKY is still in its preliminary stages and has yet to make any investments or secure outside funding. However, Forbes reported that Kim has since built a personal fortune of $1.8billion through various business ventures.
SKIMs, her Shapewear brand, recently earned a $3.2 billion valuation after securing a $240 million fundraising in January.
Besides being a co-founder, Kim is allegedly the largest individual shareholder, owning an estimated 35% of the company. She also found the cosmetics KKW Beauty and sold a minority stake to Coty in 2020 for $200 million. However, The Post in May reported a plant-based protein firm Beyond Meat named Kim as its chief taste consultant and featured her in an advertising campaign.
