Entering the likes of Luckin Coffee, Enron, and WeWork, Kylie Jenner has been EXPOSED by Forbes for not being a billionaire. In what could be the most hilarious backpedaling in a while, Forbes did some digging into Kylie Jenner’s Cosmetics line and found that the proclaimed “billionaire” might have round some numbers up. Thanks to the 51% stake in Kylie Cosmetics that is owned by the beauty brand Coty, that is a publicly traded stock, the public was able to finally throw the curtains back on the Kardashian fortune.
Insert the scene from “Always Sunny” when Mac and Charlie say “Awww did someone get addicted to crack?” Well just put “did someone lose their billionaire status” and you got a great fucking cut. Look Forbes fucked up from the start. To consider Kylie Jenner self-made is the same as considering the Lebron James’s children as self-made as well. Look, obviously Kylie rode on the shoulders of her famous family, not to say she didn’t create a great product and brand, but you better give me a hit of whatever you’re smoking when you try to tell me she started from scratch. Well with that news, the company that bought her brand, Coty, is also falling.
Coty has always had issues. Though they made a name for themselves in the beauty industry their share price has been falling consistently for the past 5 years. Going from near $40 to just $4 a share today. With the recent news of the crushing fall of consumer spending the peeps at Coty are not happy with ole Kylie. Kylie can build a brand but a business is an entirely different monster. Having a fat ole ass and some DSL’s doesn’t make you a business titan. It just makes you another influencer with a big following, giving you ad revenue. That just isn’t a business baby, issa Brand.
Coty probably fucked up and Kylie definitely did. Coty saw Kylies brand as an indestructible company. But it’s just not. It looks like Coty is going to need some sort of buy out or a merger. The gem they saw in Kylie Cosmetics just hasn’t hit the mark. Sorry Coty, but you gotta peddle that shit some other way. The Brand has become from what we can see a bust.
Anyway, that’s my take on it. Until next time. -GS
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