Kim Kardashian, the reality television star-turned-entrepreneur, is starting a new company.
According to a source Wednesday, Kardashian, 41, is partnering with ex-Carlyle CEO Jay Sammons to create a private equity business. The firm, known as SKKY Partners, will make investments in a variety of areas, including consumer goods, e-commerce, media, and entertainment.
According to the Wall Street Journal, Sammons contacted Kardashian and her mother, Kris Jenner, this year with the notion of co-founding a corporation. Jenner is also a partner in the company.
“The interesting part is sitting down with these entrepreneurs and figuring out what their ambition is,” Kardashian told the site. “I want to support that, not alter who they are in their DNA, but simply help them reach a new level.”
SKKY is still in its early phases and has yet to make any investments or receive outside financing, according to Kardashian. The private equity business plans to invest in more companies in the future, both as a majority owner and as a minority owner.
The business magnate said that she intends to use her skills as a founder and CEO to help other firms. Meanwhile, Sammons will be in charge of day-to-day operations at SKKY, which will continue to have offices in Boston and Los Angeles.
Kardashian is best known for her appearances on “The Kardashians” and other reality shows, but she has made an estimated $1.8 billion through various business ventures.
Skims, Kardashian’s iconic shapewear firm, was valued at $3.2 billion after a $240 million funding round disclosed in January. In addition to being a co-founder, Kardashian is Skims’ biggest individual shareholder, controlling an estimated 35% of the firm.
