Emma Hinchliffe, a senior writer at Fortune and author of the 'Broadsheet' newsletter, discusses Kim Kardashian's entry into the private equity sector, advantages, disadvantages, risks, and her partnership with Jay Sammons. They also explore the challenges and advantages faced by Sky Partners, the potential impact of Kim's celebrity status, and the trend of celebrities entering private equity.
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Quick takeaways
Kim Kardashian's partnership with private equity expert Jay Sammons demonstrates the potential for celebrities to make a significant impact in the private equity space by leveraging their platform and business acumen.
Sky Partners, the private equity firm founded by Kim Kardashian and Jay Sammons, aims to add value and fuel the growth of high-growth consumer businesses by leveraging Kim's understanding of the modern consumer and her distribution channels.
Deep dives
Kim Kardashian and Jay Sammons partner to start a private equity firm
In this podcast episode, Emma Hinchlip discusses Kim Kardashian's foray into the private equity sector. Emma highlights the unique partnership between Kim and Jay Sammons, a private equity expert with a successful track record. Despite initial surprise from some, Jay convinced Kim that her platform and business acumen presented an opportunity to create a significant impact in the private equity space. They founded Sky Partners, a private equity firm with a focus on control and active minority investments in high-growth consumer businesses. The firm aims to leverage Kim's understanding of the modern consumer and her distribution channels to add value and fuel the growth of these companies.
Kim Kardashian's background and expertise align with private equity venture
Looking back at Kim Kardashian's career, Emma highlights her expertise in understanding the modern consumer. From building her own consumer businesses to understanding how consumers interact with brands and influencers on various social platforms, Kim's experience equips her well for private equity investing. Emma mentions Kim's previous licensing and royalty deals, as well as her ability to reach people and understand their preferences. Kim and Jay are not solely focusing on brands aligned with Kim's existing businesses, but are also considering investments in media, food and beverage, hospitality, in addition to fashion and beauty.
Unique approach and potential challenges for Sky Partners
Emma explores the unique approach of Sky Partners and highlights potential challenges. The firm aims to invest in founder-driven businesses and maintain the DNA of the founders to foster success. While private equity typically involves hands-on involvement, Kim emphasizes the importance of keeping the founder's vision intact. The fund has already attracted talent from established firms and earned interest from brands that see the value of partnering with Sky. However, fundraising for emerging managers in the current market environment can be challenging, and the public's perception of Kim as a celebrity may introduce unpredictable variables. Despite these challenges, experts believe that Sky Partners has the potential to disrupt the private equity industry and pave the way for future celebrity-led finance ventures.
Emma Hinchliffe is a senior writer at Fortune, where she covers women in business. She also is the author of the 5-time a week newsletter called "Broadsheet." Emma recently wrote an article "Kim Kardashian turned Skims into a $4 billion company. She wants to build the next generation of unicorns with SKKY Partners, her new private equity firm." In this conversation, Emma breaks down why Kim Kardashian is going into the private equity sector, advantages & disadvantages, biggest risks, and how Kim & Jay Sammons got partnered up.
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