Weekend Fashion News Alert: Billionaire Kylie, Victoria Secret’s Troubles, and Anniston Racks up the Cash

                                            Image courtesy of youtube.com

At the tender age of 20, Kylie Jenner is on her way to being the youngest billionaire. Valued at $900,000 Kylie Jenner’s self-made beauty empire, Kylie Cosmetics, has set her on the path to the billionaires’ club, according to Forbes magazine.Launched in 2016, Kylie Cosmetics has sold over $630 million dollars worth of makeup and solely owned by Kylie Jenner. According to Forbes magazine, another year of growth would make Kylie Jenner the youngest self-made billionaire in history. Forbes contends that $900 million is a conservative number when it comes to Kylie’s wealth. The millions made from endorsements, television programs and tax dividends were not all added in when summing up Kylie’s wealth.

Though some contend that Kylie Jenner is not self-made—she comes from a very wealthy and well-connected family (the Kardashians and the Jenners)—her ascent in the beauty industry is historic, if not revolutionary. Kylie Jenner first came to fame by appearing on “Keeping Up with the Kardashians.”

Jenner told Forbes magazine that social media for helping drive her success. “Social media is an amazing platform,” she said. “I have such easy access to my fans and my customers.”

       Image courtesy of Victoria’s Secret

Down market for Victoria’s Secret

Victoria’s Secret is having issues. In spite of extensive promotions, glamorous runways shows and a plethora of television commercials, the brand’s sales fell by 1% in June. This decline in sales, though small, causes fashion tongues to wag, with insiders commenting that Victoria’s Secret is falling prey to some of its major competitors.

According to Randal Konik, a financial analyst with NYC–based financial services firm Jefferies, Pink, Victoria Secret’s youth-focused spinoff brand is no longer appealing to young consumers. Young consumers are flocking to Aerie by American Eagle for their lingerie choices. Aerie has outperformed Victoria’s Secret for the last 16 quarters.

Add to this outperformance by Aerie, women’s taste is lingerie is changing, opting for less expensive, less elaborate lingerie. This shift makes things much more difficult for Victoria’s Secret whose signature aesthetic is embellished, elaborate lingerie at a higher price point.

       Image courtesy of amazon.com

More money for Jenny

Jennifer Anniston is one of the highest paid film actresses in Hollywood, right behind Emma Stone. Surprisingly, Anniston has made any big budget films in quite a few years. That said; where does Anniston’s big bucks come from?

According to Forbes magazine, Anniston made $10 million dollars in 2017 from product endorsements, which include Eyelove, Smartwater, Aveeno, Emirates, and Living Proof. Anniston also has six fragrances on the market.

—William S. Gooch

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