How Kylie Jenner Became A Billionaire by Selling Cheap Products
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Imagine for a second that you’re fourteen again. You’re having your first crushes, holding your first hands, going on your first dates. Maybe you’re a little insecure about how you look – all teenagers are. But on the whole, you’re feeling pretty good. Until disaster strikes. One of the first people you kiss tells you, 'Oh my God, you're such a good kisser, but you have such small lips’.
What do you do? Maybe you go home. You look at yourself in the mirror for a while. Are your lips really that small? You didn’t think they were, but what do you know? You start to feel ugly. You start to feel, well, unkissable.
You probably feel embarrassed about it for a long time. You probably try to overcompensate, make your lips look bigger. And as you grow up, you probably bury that memory, and only think back on it to laugh about the things teenagers worry about.
What you probably don’t do is make a cheap lip product that sells out across the globe. What you probably don’t do is use your teenage humiliation to make a billion dollars. But that’s exactly what Kylie Jenner did. Here’s how she did it.
Pumping Herself Up (01:09)
There’s one rule of being in the public eye that’s key to getting Kylie’s tactics. That rule is this: all attention is good attention.
Playing Her Audience Like a Violin (03:08)
With an initial production line of just 15,000 lip kits, supply was far lower than demand. Kylie enhanced this effect even further by only announcing the lip kits the day before they went live on her online store.
This created a ‘rush’ effect, making customers more likely to hurry to pre-order the kits before everyone else.
Inner Workings of Kylie Cosmetics (06:15)
Flimsy flexibility has been the name of the game when it comes to Kylie Cosmetics. They’ve kept the workings of their business lightweight to pay their employees the minimum amount and pocket the profits.
Making $100’s of Millions Without Doing Any Work (08:24)
Kylie Cosmetics earned $307 million in a single year with cheap products and cheaper running costs. Instead of reaching for more, Kylie understands the minimum resources she needed to run her business on, and ran it on just that.
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