Reality tv star and business mogul Kim Kardashian is set to launch a new private equity law firm. The SKIMS founder will be working with a former partner at the Carlyle Group Inc called Jay Sammons. The firm will be focused on investing in consumer and media businesses.
Kim and Sammons’ new firm will be known as SKKY partners, and they will be investing in different sectors. The sectors include digital commerce and media, luxury, hospitality, consumer products, etc. They also have plans to both control and minority investments.
While Kim Kardashian is set to launch the private equity firm, she’ll be a co-founder and co-managing partner with Jay Sammons. However, Sammons will be responsible for the daily activities or operations of the firm.
Kim Kardashian To Launch Private Equity Firm While Managing Other Businesses
Being a new field for Kim, Sammons’ expertise and knowledge will definitely come in handy for the success of the firm. However, this won’t be the star’s first business venture.
The mother of four already attained a great height in her initial businesses, including SKIMS and SKKN. SKIMS is a solutions-oriented brand creating the next gen of underwear, loungewear, and shapewear. It was valued at $3.2 billion in January. While SKKN, formerly KKW, is a skincare line that’s equally doing very well.
The date of the private equity firm launch by Kim Kardashian is still undisclosed but will be announced once things get started. Kim K won’t be the first celebrity to delve into the space. Other stars, including Gwyneth Paltrow, Leonardo DiCaprio, and Ashton Kutcher, are also turning prolific investors in the private equity and venture capital space.
Serena Williams is also starting her new venture capital establishment known as Serena Ventures after raising $111 million this March. The firm already has a total market value of $14 billion, including an online masterclass and tech company, Propel.
After Kim Kardashian’s private equity firm launch with Sammons, she’ll join her co-stars in the equity space. Kim’s next business venture is unknown, as she always surprises her fans with updates. But first, SKKY must get started.