HOLLYWOOD—While most people are losing money, and businesses are either going bankrupt or closed for good. Kylie Jenner is expanding her real estate empire. First, she became a makeup mogul, and now, Kylie Jenner is a real estate empress. After dropping nearly $40 million on a new mansion, the “Keeping Up With the Kardashians” star bought a giant plot of land in her hometown.
Not long after Kylie, 22, purchased a mansion in the heart of Los Angeles, the young billionaire added to her real estate portfolio by buying a patch of land in her Hidden Hills hometown. The purchase, first reported by Variety, cost Kylie $15 million – in cash – and she now owns a “spectacular 5-acre lot,” one that is “one of the largest in all of Hidden Hills.” The land is currently bare, but according to published reports the sale included approved plans for an 18,000 sq. foot mansion with a 12-car garage, guesthouse, barn, guard shack for full-time security detail, a sports court, and a pool. Though, it’s unsure if Kylie will stick with these plans or customize a dream house of her own.
She might ask Miley Cyrus what she had planned to do with the property. From 2015 to 2018, the estate was owned by the “Slide Away” singer, who reportedly kept horses on her farm there. She sold the place for about $5 million to a “non-famous woman,” according to reports. This new owner demolished the existing ranch, graded the lot, and acquired the permits to build the mentioned mansion. However, instead of breaking ground, she flipped the property and made some bank.
It’s a “record” purchase in that Kylie was able to score five whole acres of land in the San Fernando Valley. While it isn’t as large as Kanye West’s 4,000-acre ranch out in Wyoming, for Southern California standards, Kylie’s property is enormous. It’s also near the rest of her family. The Hidden Hills gated community is next to Calabasas, the part of the San Fernando Valley that has become synonymous with the KarJenner clan.
Kris Jenner, Kim Kardashian, Khloe Kardashian and practically anyone who has ever appeared on an episode of “KUWTK” calls the gated residential community home. Also, Drake, The Weeknd, John Stamos, Jessica Simpson, and Kylie’s arch-nemesis/fellow cosmetics tycoon Jeffree Star all live there.
It seems Kylie has indeed inherited Caitlyn Jenner’s taste for real estate. About a year after Kylie sold off the majority interest in her cosmetics company (a deal that netted her $600 million), she purchased a $36.5 million home in Holmby Hills. “ It seems Kylie loves real estate investing and has a really good eye for a smart investment when she sees it. Once [the coronavirus crisis] is all over and things go back to normal, she’ll be in the heart of LA, which is where she loves to spend time with friends and enjoys going out.”
Online business is the way to go. The beauty of Kylie Cosmetics, which Jenner started in 2015, is its minuscule overhead—and the outsize profits that go straight into Jenner’s pocket. Her empire consists of just seven full-time and five part-time employees.
Manufacturing and packaging is outsourced to Seed Beauty, a private-label producer in nearby Oxnard, California. Sales and fulfillment are handled by online merchant Shopify. Her shrewd mother, Kris, takes care of finance and PR in exchange for the 10 percent management fee she siphons from all of her kids. Marketing is done mostly through social media, where Jenner has a massive following. She announces product launches, previews new items and announces the Kylie Cosmetics shades she’s wearing directly to the 175 million-plus who follow her across Snapchat, Instagram, Facebook and Twitter.
Kylie Cosmetics also launched in Ulta in 50 states, the reaction was a real-life version of the online rush Jenner created years earlier, when her initial kits sold out online in less than a minute. Ulta shoppers went wild. In some stores, inventory was gone in hours. Let’s not forget the beauty of her social media.
Rose’s Scoop: Leave it to the Chinese. Tik Tok which belongs to a company called ByteDance, is a Beijing-based company founded in 2012. Everyone is turning to TikTok since being on the great lockdown.