Business venture

Kim Kardashian’s New Business Venture: A Private Equity Firm | world news

Reality TV star and entrepreneur Kim Kardashian and former Carlyle Group Inc associate Jay Sammons are launching a new private equity firm focused on investing in consumer and media companies, according to a joint statement.

The new company, named SKKY Partners, will invest in sectors including consumer products, hospitality, luxury, digital commerce and media, and plans to make control and minority investments.

Kardashian and Sammons will serve as co-founders and co-managers, with Sammons directing the day-to-day operations of the company.

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Kardashian has found success in her recent business ventures such as shapewear brand Skims and makeup brand KKW due to their popularity with young shoppers and the TV personality’s huge popularity on social media. Skims was valued at $3.2 billion in January.

Kardashian’s launch of a private equity firm also underscores a broader shift among big-name Hollywood celebrities, including Leonardo DiCaprio, Ashton Kutcher and Gwyneth Paltrow, who are becoming prolific private equity and equity investors. risk.

Tennis star Serena Williams raised $111 million for her new venture capital firm Serena Ventures in March. The company has invested in more than 50 companies with a total market value of $14 billion, including online learning platform MasterClass and technology company Propel.

Earlier Wednesday, The Wall Street Journal announced the launch of the private equity firm.