Reality TV star, Kim Kardashian continues to expand her résumé. According to The Wall Street Journal , the 41-year-old SKIMS founder is set to launch a new private equity firm alongside a former partner at Carlyle Group Inc., Jay Sammons.
The firm, which is dubbed SKKY Partners, will invest in areas such as consumer-media and entertainment businesses, luxury, consumer products, hospitality and digital commerce and media. According the company’s Instagram post, the firm will focus “on both control and minority investments in high-growth, market-leading consumer and media companies.”
Reality TV Star, Kim Kardashian Set To Launch Private Equity Firm, SKKY Partners, to Help Entrepreneurs Build Their Companies
Wall Street Journal reported that Jay Sammons, Kim Kardashian, and her mother, Kris Jenner, have a long-time relationship. He reportedly approached the duo earlier this year about starting the firm. He told the outlet that the momager will join SKKY as a partner. Kim also told WSJ that she loved the idea of starting the firm because she gets to work closely with brand owners to help them build up their companies.
She told the outlet that “The exciting part is to sit down with these founders and figure out what their dream is. 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.”
The firm plans to start making investment later this year, according to Wall Street Journal. The firm also plans to begin fundraising shortly, through institutional investors. Jay Sammons said that teaming up with the reality show star allows them to both lean into their own strengths — which is finances and investments for him and for Kim, influence and reach globally and via social media.
He also said that both Kim and her mother, “Having built businesses themselves as true entrepreneurs is a very differentiated approach.,” noting that Kim’s brand, SKIMS, which was launched in 2019, was recently valued at $3.2 billion. Kim previously told PEOPLE that “I use shapewear as a solution to my styling needs. I always wanted something that would smooth, and sometimes not necessarily change my shape.”
“When I wear sheer garments, I used my shapewear to line things like jumpsuits and gowns.” In November 2021, , the business woman was named WSJ. Magazine’s 2021 brand innovator for the company’s success. Kim recently launched her nine-product skincare line, SKKN BY KIM.
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