Kim Kardashian ventures from beauty and shapewear to private equity

The socialite co-founded the firm with Jay Sammons, a well-known investor who backed brands like Beats by Dre and Supreme

Kim Kardashian is known to have ventured into multiple business streams over the course of her career, her newest venture SKYY Partners was announced on Wednesday, the private equity firm is set to focus on consumer products, digital and e-commerce, consumer media as well as hospitality and luxury.

The company’s target sectors include consumer products, digital & e-commerce, consumer media, hospitality and luxury.

For more information, visit https://t.co/Jbbn6KxUJ0 pic.twitter.com/fYNj2bInEl

— SKKY Partners (@SKKYPartners) September 7, 2022

Kim Kardashian co-founded the firm with a 16-year veteran of The Carlyle Group, Jay Sammons. She announced on Twitter that she holds co-founder and co-managing partner titles, she also announced that her mother Kris Jenner will serve as a partner at the firm. The launch occurred after Sammons approached Kardashian and her mother, Kris Jenner, this year with the idea to co-found a firm, the Wall Street Journal reported.

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

Jay Sammons is a well-experienced name in the industry, known to have backed brands like Beats by Dre and Supreme, both companies worth billions of dollars today. SKKY Partners is hoping to lean on Sammons’ financial and operational experience and Kardashian’s “global reach and unrivalled social influence” to find companies to invest in or acquire.

After multiple business venture attempts, Kim Kardashian has gained success in her recent business ventures Skims and KKW Beauty due to her social influence building popularity among the younger demographic as well as beauty industry influencers. Skims was valued at $3.2 billion in January.

Though best known for her appearances on “The Kardashians” and other reality series, Kim Kardashian has built a personal fortune estimated at $1.8 billion through various business ventures, according to Forbes. Kim Kardashian or Jay Sammons have not yet disclosed the expected size of the fund or when it is set to begin. Kardashian told WSJ that she was attracted to the idea of starting the firm because of the chance to work closely with entrepreneurs to help them build up their companies.