Kim Kardashian, the latest TV personality and businesswoman, has established a new private equity firm specializing in consumer and media companies. Jay Summons, a former business partner at Carlyle Group Inc., is her partner in this firm. The newly established company, SKKY Partners, invested in various industries, including media, luxury goods, consumer items, hotels, and marketing automation.
While Jay will be in charge of the company’s day-to-day business operations, Kardashian will serve as a co-founder and co-managing partner. Kris Jenner, the mother of Kim Kardashian, will also collaborate with the newly formed equity business.
This reality TV personality turned entrepreneur tweeted that they would like to work together to utilize their complementary skills to create the next wave of consumer and media private equity firms.
Former global head of consumer, media, and retailing at the American multinational investment company Carlyle Group, Mr. Sammons is her business partner. According to his LinkedIn page, his clients’ standard defining companies include Supreme, Beats by Dr. Dre, Vogue International, Moncler, and McDonald’s China.
Kim rose to fame after appearing on her family’s “Keeping up with the Kardashians” and has recently had entrepreneurial success. It is estimated to be worth $1.8 billion. She introduced the shapewear brand Skimmed in 2019, and the Wall Street Journal estimated its value to be $3.2 billion in January. The entrepreneur introduced the skin-care line SKKN BY KIM earlier last year. Following Gwyneth Paltrow, Leonardo DiCaprio, and Ashton Kutcher, the 41-year-old is the most recent celebrity to establish their venture capitalist and private equity investment organizations.
