money How Kim Kardashian's new $630 skincare line adds to lucrative billion-dollar empire
Kim Kardashian is expanding her billion-dollar business empire.
The reality star's latest entrepreneurial venture is a nine-step, high-end skincare line, dubbed SKKN by Kim, that includes ingredients like hyaluronic acid, vitamin C, niacinamide, shea butter, and more.
The full package, set to launch June 21, costs a whopping $630 with Kardashian explaining to The New York Times that the cost was necessary given the quality.
"The products I was using that were comparable were way more expensive, not to compare anything," she said. "I tried to get the quality for the best price that we could, especially the vitamin C serum."
Kardashian's sister, Kylie Jenner, launched her skincare line Kylie Skin in 2019 — capitalizing off of the success of her own makeup brand Kylie Cosmetics.
The news comes as Kardashian takes on yet another role as the new "chief taste consultant" for Beyond Meat (BYND). The reality star faced backlash on the heels of the announcement after viewers noted she did not appear to eat any of the plant-based meat products.
Kardashian debunked those rumors earlier this week, posting behind-the-scene clips of the ad-campaign which showed her chowing down on a Beyond Meat burger.
Kim Kardashian's billion-dollar empire
Kardashian joined Forbes' coveted billionaire list last year with the outlet citing her lucrative businesses, KKW Beauty (currently shut down for a rebrand) and loungewear company Skims, as catalysts for her billionaire status, in addition to extra cash from her former reality series "Keeping up with the Kardashians" and endorsement deals.
The 41-year-old started KKW Beauty in 2017 and owns 72% of the company (equivalent to about $500 million, according to the magazine.) Additionally, she sold a 20% stake of that company in 2020 to beauty conglomerate COTY (COTY), which amounted to $200 million in cash.
Meanwhile, Skims saw a boom in sales amid the pandemic, as consumers gravitated toward comfier, at-home clothing options. Kardashian owns a majority stake, and while the financials of the company have not been disclosed, Forbes reported that the brand raised $240 million in its latest funding round in January, thus resulting in a valuation of $3.2 billion.
The rest of the star's wealth sits in investments, real estate and cash. The recent debut of Hulu's "The Kardashians" should also continue to provide a steady and supplemental stream of income.
The famous family signed a multiyear deal with Hulu (DIS) at the end of 2020.
Alexandra is a Senior Entertainment and Food Reporter at Yahoo Finance. Follow her on Twitter @alliecanal8193 and email her at alexandra.canal@yahoofinance.com
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