Kim Kardashian to launch private equity firm with former Carlyle partner: Report
The new firm to be launched by Kardashian and Jay Sammons will be named SKKY Partners.
Reality television star and entrepreneur Kim Kardashian and a former partner at Carlyle Group are launching a new private equity firm focused on investing in consumer and media businesses, the Wall Street Journal (WSJ) reported on Wednesday (Sep 7).
The new firm to be launched by Kardashian and Jay Sammons will be named SKKY Partners, the WSJ reported, citing interviews with them.
The firm will make investments in sectors including consumer products, hospitality, luxury, digital commerce and media, according to the report.
Kardashian has gained success in her recent business ventures such as shapewear label Skims and makeup brand KKW due to their popularity with young shoppers and the TV personality's huge social media following. Skims was valued at US$3.2 billion in January.
SKKY plans to make both control and minority investments in companies, according to the WSJ report.
Kardashian and Sammons did not immediately respond to Reuters' requests for comment.