'She has expensive tastes': Kylie Jenner eager to launch products despite going through financial crisis
LOS ANGELES, CALIFORNIA: Although Kylie Jenner has reportedly been on the verge of becoming a billionaire for years, the beauty mogul is likely going through a financial crisis that the public was not aware of.
A source claims that 'The Kardashians' star might be facing financial doom due to speculations that she is living extravagantly, which would explain why Kylie has been launching new items continuously.
Kylie Jenner suffers significant career setback for living beyond her means
"Kylie has expensive tastes," one insider revealed to In Touch Weekly. "She wants the best of everything — and usually gets it." However, they cautioned, "She doesn’t have as much money as everything thinks."
Everything in Kylie's Oxnard, California, office shouts "RICH!" One media site stated, "It’s pink, white and stunning all over."
There are plush couches, several photo studios and meeting rooms, and even a vending machine that only sells Moet & Chandon champagne.
According to the insider, Kylie, 26, could be on the verge of financial collapse if she continues to spend the way she is—that is, until her income increases. Therefore, if Kylie keeps losing money, they issued a warning. "She could end up going broke."
The source further mentioned that Kylie recently launched a line of canned vodka sodas, a cruelty-free fragrance line, and the apparel brand Khy, to make ends meet.
The insider asserted, "It’s hard to gauge if any of those ventures will be as lucrative as Kylie Cosmetics. But if they flop, Kylie’s bank account could take another huge hit."
The source further added: "Whether she can come up with money to do that. It remains to be seen. She may have to find new ways to generate cash."
The source's remarks follow social media users' theories that the 26-year-old might be losing money after she lowered the listing price, in an attempt to sell her Beverly Hills residence.
The property has been on the market since 2022, per OK! Magazine.
Kylie Jenner's product sales reportedly declining day by day
Following in the footsteps of her older sister Kendall Jenner, who owns a tequila company, Kylie introduced her own line of vodka seltzers, Sprinter, earlier in April.
This is Kylie's first venture into the food market, which is a significant shift from her past endeavors in fashion and cosmetics.
However, the reality star proved her continued dedication to Kylie Cosmetics when the company unveiled its first fragrance, Cosmic.
Kylie is also growing her brand-new apparel business, Khy, with the news that a denim line, Drop Give, is on the horizon.
Despite having only launched in October 2023, Khy has already released four collections, the first of which sold out almost instantly.
Kylie Cosmetics's e-commerce net sales dropped from $68.7 million in 2017 to $36.2 million in 2022 at their online site, kyliecosmetics.com, as reported by Statista.
Online revenues are predicted to drop even further, to $29 million in 2024. Kylie allegedly wants to reclaim ownership of the brand she sold for $600 million in 2020 because she doesn't like the way the business has been run.
Kylie is currently working on a number of new ventures that should increase her net worth.
That likely explains why she has started so many projects one after the other: despite rumors that she might not be able to support her lifestyle, she has to expand her empire.
