Kim Kardashian teamed up with Jay Sammons, a former member at Carlyle Group Inc, to create a new private equity firm named “SKKY Partners”. This new private equity firm focuses on investing in consumers and media companies.
“SKKY Partners” aims to make both control and minority investments and will target industries such as consumer products, hospitality, luxury, digital commerce, and media. Kardashian and Sammons will serve as co-founders and co-managing partners while Sammons will oversee daily operations at the company.
Kardashian has achieved success in her most recent businesses due to their popularity among young consumers and the TV personality’s enormous social media, including the shapewear label Skims and the makeup brand KKW. In January, Skims had a $3.2 billion market value.
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According to Kardashian, what attracted her to the idea of creating “SKKY Partners” was the prospect of collaborating closely with entrepreneurs to support the expansion of their businesses. She promised to use her knowledge from her own businesses to assist portfolio companies succeed.
The launch of a private equity firm by Kardashian also highlights a wider trend among well-known Hollywood figures, such as Leonardo DiCaprio, Ashton Kutcher, and Gwyneth Paltrow, who are increasingly active investors in the private equity and venture capital sectors.
