Television personality Kim Kardashian has made several ventures into the beauty and makeup market.
KKW Beauty, her cosmetic line, was shuttered in 2021, while KKW Fragrance, her fragrance brand, closed in 2022. Her latest product, Skkn by Kim, was launched in June 2022, and focuses instead on skincare.
Now, Kardashian may be returning to makeup and fragrance, backed by beauty giant Coty, which had partial stakes in both KKW Beauty and KKW Fragrance.
In a Tuesday (Jan. 16) video posted to her Instagram account, Kim Kardashian read comments from fans asking for her old brands to come back. At the end of the video, Kardashian said she hears her fans. The video ended with the date Jan. 26, 2024, appearing on the screen.
The teaser comes as Kardashian’s apparel brand Skims, which specializes in underwear, loungewear and shapewear, prepares for an IPO amid an estimated $4 billion valuation.
As PYMNTS reported in June, Skims was expected to recored nearly $1 billion in sales for 2023, experiencing a growth rate of approximately 100% – all without having a permanent retail presence.
Additionally, Skims was gearing up to transition from an online, direct-to-consumer (D2C) approach to establishing permanent brick-and-mortar stores, part of their strategy to expand into both domestic and international retail markets.
“Kim and I can envision a future where years from today there’s a Skims store anywhere in the world you’d find an Apple store or a Nike store,” said Skims Co-founder and CEO Jens Grede in June. “It marks the second chapter.”
Given Kardashian’s triumph with Skims, there’s curiosity about whether she can achieve similar success with her beauty and fragrance line.
This question arises in the midst of a growing beauty market. Worldwide, the beauty and personal care market is expected to generate a revenue of $646.20 billion in 2024, with an annual growth rate of 3.33%, according to data from market data firm Statista.
In December, PYMNTS reported that despite inflation, cash-strapped consumers were still making small nice-to-have purchases.
Based on research from PYMNTS Intelligence and LendingClub, consumers are spending the most on health, beauty and clothing when it comes to retail items.
When household finances take a hit and making ends meet becomes a challenge, spending on luxuries is typically reduced. However, this doesn’t hold true for beauty products. The PYMNTS Intelligence study revealed that consumers facing paycheck-to-paycheck situations and bill payment challenges will still spend on beauty items.
For women, the top “luxury” categories are clothing, as well as health and beauty, while men prefer things like toys, video games, electronics or sporting goods. The biggest difference between men and women’s choices is in beauty and wellness.
Looking at consumers’ financial situations, those who aren’t living paycheck-to-paycheck usually spend more on retail. However, when it comes to beauty and health, everyone, regardless of income, keeps spending, with women are leading the way in this trend.
Given this, does Kim Kardashian’s comeback to the beauty and fragrance industry come at the perfect moment? Can she duplicate the success she had with Skims in the beauty and fragrance sector?
If the Gredes, the influential couple behind the Kardashian family brands, have a say, Kim Kardashian might stand a chance.
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