The media mogul and power-house Kim Kardashian celebrity has launched SKKY Partners, which will focus on several sectors, including consumer media and entertainment, hospitality, luxury, and digital commerce. The company plans to make its first investment by the end of the year, the Wall Street Journal reports.
Kim Kardashian is teaming up with a former Carlyle Group partner to launch a private-equity firm that will work on investing in and developing consumer and media companies
Sammons, who has spent two decades working in private equity, will run the day-to-day operations of SKKY Partners. In a tweet from its official handle, the new company said it plans to make both minority and controlling investments in a range of “high-growth, market-leading” media and consumer businesses.
Kardashian said in an interview with the Wall Street Journal that she was drawn to starting the venture because of the chance to work closely with entrepreneurs.
"The exciting part is to sit down with these founders and figure out what their dream is,"
Kardashian told the Journal.
"I want to support what that is, not change who they are in their DNA, but just support and get them to a different level."
Kardashian’s shapewear label Skims doubled its valuation to $3.2 billion in January after a new $240 million financing round led by hedge fund Lone Pine Capital. She also co-owns cosmetics company KKW Beauty with Coty