By
Tolu Ajiboye
June 7th, 2023
SKKY Partners will direct control and minority investments towards high-growth, leading consumer and media firms.
Celebrity influencer and reality TV star Kim Kardashian is partnering with Jay Sammons to launch a private equity firm, SKKY Partners. The firm will focus on the consumer products, digital & e-commerce, media, hospitality and luxury sectors.
According to the press release, Kardashian and Jay Sammons will serve as co-founders and partners. Also, Kris Jenner will act as a Partner at the firm. The idea is to leverage the partners’ experience and global reach to build, partner, and grow innovative companies.
Kim Kardashian, who stars with her celebrity family in ‘The Kardashians’ has a huge social media fan base. She has more than 329 million followers on Instagram alone. Apart from her social capital, Kadarshian has prior experience establishing multiple businesses.
In 2019, she founded Skims, an undergarment and apparel firm. Skims recently raised $240 million to achieve a valuation of $3.2 billion. Additionally, she runs the KKW Fragrance and KKW Beauty brands.
As for Jay Sammons, he comes on board with two decades of experience in investing in consumer brands. In his most recent role, Sammons was the Global Head of Consumer, Media, and Retail at Carlyle. Accordingly, Sammons will lead the day-to-day firm operations, including originating investment opportunities.
“I look forward to building SKKY into the leading private equity firm that backs the next generation of innovative, disruptive consumer businesses and brands,” Sammons stated.
SKKY Partners Will Invest in Consumer Brands
SKKY Partners will direct control and minority investments towards high-growth, leading consumer and media firms.
Kim Kardashian expressed her excitement at the chance to invest in these brands. Further, she said, “I look forward to working closely with Jay and our team to identify distinctive investment opportunities and build the firm’s portfolio of world-class companies for our investors.”
Kardashian is not the only celebrity with a multi-million-dollar business. Rihanna launched the Fenty Beauty and Fenty Skin brands. Similarly, Kelly Clarkson, Reese Witherspoon, and Jessica Alba all own major business brands.
Despite the feverish interest of celebrities in building major business brands, building crypto start-ups continues to be out of the picture. Nevertheless, with market enthusiasm at its highest, crypto companies may truly be on the horizon for these celebrities.
