What's Kim Kardashian's Latest Venture? Private Equity.
Kim Kardashian has set her eyes on a new stage: Wall Street.
Kim Kardashian is no stranger to building a brand into a global sensation. Her shapewear brand, SKIMS, is worth more than $3 billion as of July. Now, she's dipping her toes in something entirely different from her self-made beauty and clothing lines: private equity.
Kardashian is launching SKKY Partners alongside Jay Sammons, a former Carlyle Group executive. The firm intends to invest and build businesses across multiple industries — many of which are sectors Kardashian already has expertise in, such as hospitality, media, luxury and consumer products.
"The exciting part is to sit down with these founders and figure out what their dream is," Kardashian told The Wall Street Journal. "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."
I'm pleased to announce the launch of @SKKYPartners with private equity veteran Jay Sammons as co-founder and co-managing partner, along with @KrisJenner who will serve as partner at our firm. pic.twitter.com/KExQTsVGbf— Kim Kardashian (@KimKardashian) September 7, 2022
Although the firm is still in its early stages and has not begun raising capital, Sammons and Kardashian are a complementary pair. Sammons has 16 years of experience at Carlyle, where he invested in various well-established brands such as Supreme and Beats by Dre, and Kardashian has expertise in building and expanding brands.
Sammons will run day-to-day operations for SKKY, which will be based out of Boston and Los Angeles. Kris Jenner, Kardashian's mother and manager, will also be joining as a partner.
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