It's no secret that everything the Kardashians or Jenners touch turns to gold, and with momager Kris Jenner working her magic, the youngest member of the Kardashian-Jenner family, Kylie Jenner, has now turned her lipstick company into a $420 million empire.
Kylie launched her fast-selling cosmetics brand Kylie Cosmetics, which includes her signature lip kits, eye shadow palettes, and eyeliner among other cosmetic products in November 2016, and the business has skyrocketed since.
According to statistics obtained by WWD, in the 18 months since its launch, Kylie's company has made an enormous $420 million in retail sales, and if the business continues to flourish, Kylie is expected to be a billionaire in no time.
"The goal in the future is to just build the whole infrastructure, and figure out what a retail model might look like that could take it globally," Kylie Cosmetics' chief financial officer Kris told CNBC in an interview on Tuesday. "She's just scratched the surface and there is so much more to do with the brand."
Kris added that Kylie's company is completely funded by the 20-year-old, and there are no other investors involved, which according to her, really opens the doors for the brand's expansion. Although Kylie's products are currently sold online, they could be available at retail stores in the future.
"I think it's time people walk into a store and see Kylie Cosmetics," Kris noted. "I do want that, but we haven't figured out exactly how we're going to do that and what approach we're going to take."
Kylie, who is expecting her first child with boyfriend Travis Scott, is currently the youngest celebrity on Forbes' list of 100 highest paid celebrities in the world, followed by Justin Bieber, who is three-and-a-half years older than the Keeping Up With the Kardashians star.
However, Kylie isn't the only family member in the make-up/cosmetics business. Following in her footsteps, older sister Kim also launched her own contour kits earlier this year, and just like Kylie's signature lip kits, Kim K's products also sold out within a few hours.
The Kardashians are certainly raking in the moolah. The famous family recently signed a $150 million contract for the extension of their popular reality show for another five seasons. The family will reportedly split the money equally among themselves, with $15 million going to Kris for brokering the deal.
Kylie and her (also) pregnant sister Khloe recently collaborated for Kylie Cosmetics for their Lip Kit partnership called In Love With The Koko Kollection, which launched in May. Check out the video below: