Is Kylie Jenner really going broke? Amidst Recent speculations have stirred up a frenzy, with some suggesting that she’s desperately launching new products to keep up with her extravagant lifestyle. As her businesses allegedly going to grounds, people are wondering if the billionaire’s empire is breaking.
FORBES AND COTY EXPOSE
It all began when Forbes and Coty exposed that Kylie Cosmetics wasn’t as big or profitable as it seemed. Following theses revelations, reports emerged accusing Kylie of inflating her numbers, forging tax documents to appear as a billionaire. The scandal shook her credibility and hurt her brand.
NEW BUSINESSES GONE WRONG
After her net worth was re-evaluated and her credibility took a hit, Kylie attempted to recover by launching two new ventures. Unfortunately, both businesses were seen as major flops. Moreover, this not only further damaged her public image but also negatively impacted her existing brands, raising questions about the future of her empire.
THE 600 MILLION DEAL: KYLIE JENNER
In 2019, Kylie made headlines by selling a 51% stake in Kylie Cosmetics to Coty for a grand $600 million. While Kylie retained a 49% share, the sale sent a different message to the public. Consumers began to feel that Kylie Cosmetics was no longer the personal brand it once was. Consequently, what was once a $29 lip gloss backed by the name “Kylie” suddenly seemed like just another overpriced product.
DECLINE IN PUBLIC PERCEPTION: KYLIE JENNER
While Kylie Jenner is far from broke in financial terms, the public perception of her brand has shifted dramatically. What was once seen as a powerful, trendsetting brand now appears to some as a shell of its former self, with Kylie no longer seen as its owner.
Is Kylie really on the edge of financial disaster, or can she turn things around once again? The answer remains uncertain. Only time will tell if this is the end of her reign or just a speed breaker in the road.
