Founders Part 2: Kim Kardashian and understanding how good founders operate
In Founders Part 1, I discuss identifying and evaluating good founders as a critical part of the investment process. As Sam Altman has shown us, good founders are integral to a startup’s relationship with its investors. They are the keystone of any venture.
But, while billion dollar ideas come a dime a dozen, great leaders are diamonds in the rough. They are generation defining, iconic individuals whose epic pursuits are a reflection of their individual power. Many of the most prestigious company leaders operate privately, letting us layfolk in only for the occasional product launch, Walter Isaacson biography, or to address rumors that they will be participating in a cage fight. But, multi-hyphenate entrepreneur Kim Kardashian has pulled back every curtain. Several media channels provide a rare opportunity to see into this business leader’s professional operations.
Kardashian speaks on her show about being a life-long entrepreneur. Her large-scale entrepreneurial pursuits started in 2006 when she opened the retail chain Dash (closed 2018) with her sisters. In 2007, Keeping Up With The Kardashians aired. Since then, she has launched several smaller ventures in the entertainment and consumer sectors, but her most exciting business ventures to date include Skims (apparel, $4B valuation) and SKKY Partners (PE firm, reported $1B).
What has Kim Kardashian taught us about how great founders operate?
Nailing the Target Market
Skims started off as a shapewear line, a meaningful decision in light of Kardashian’s thoroughly postulated body. In addition to taking advantage of her public image to launch a relevant product, Kardashian saw a need to 1) create more inclusive shapewear (across both skin tone and size) that 2) adapted to contemporary use cases (such as dresses with high slits).
Skims was launched with the goal of solving these very specific problems. Launching with articulation allowed the company to find its traction in the market, create a reputation of quality, and gain genuine popularity. With shapewear as its foundation, Skims has grown into something ubiquitous: Consumers of all ages and genders can find something at Skims, and Skims caters to all apparel needs from underwear and pajamas to date night dresses. Kardashian has expanded her company, but only because of an initial determination to solve problems that needed to be solved.
Never Coasting
10/23/23: Skims announces the launch of menswear
10/27/23: Skims announces the launch of the Ultimate Nipple Bra
10/30/23: Skims announces their partnership as the Official Underwear Partner of the MBA
11/2/23: Skims announces the launch of Swarovski x Skims
11/9/23: Skims launches the 2023 holiday collection featuring the Mahomes family
(Source: @skims on Instagram)
If this timeline is indicative of anything, it is that Kim Kardashian is a workhorse. She is constantly pushing her brand forward with new products and collaborations that will keep her brand at the top of consumer’s minds and cultural relevance. As I mentioned above, Skims has evolved well beyond shapewear. Beyond that, each launch strategically places her brand in a new category and demonstrates Skims’ ability to fill a wide variety of apparel needs.
Building with a Superior Team
Kim Kardashian is known for a number memorable quotes, but one has always stood out to me as a testament to her success: “[It’s] Just like that effortless look, you know? But it’s really a lot of effort”. The context of this quote is that Kim Kardashian was describing an athleisure outfit that took a team of stylists to construct. Kardashian is open about the value her team brings and is always surrounded by people who uplift, inform, or empower her.
Building an incredible team takes a level of humility because it implies that a founder knows they can’t do everything perfectly by themselves. Kim Kardashian, the fashion icon, needs a team of stylists to help her pick out the right leggings to wear to lunch. This humility has expanded into all crevices of Kardashian’s career, and her team makes her stronger. She launched SKKY Partners with Jay Sammons, who was previously a Partner and the Global Head of Consumer, Media and Retail at Carlyle. Jens and Emma Grede, serial entrepreneurs in the consumer sector, are C-Suite executives at Skims.
While Kardashain’s ability to cultivate expert teams has helped her companies and image grow, it goes both ways, and working with Kardashian can be career-defining. Mario Dedivanovic and Chris Appleton are widely recognized for the makeup and hair looks they have created for Kim Kardashian. Both artists have spun out their own consumer brands.
Becoming a Human Shock-Absorber and Failing Often
Kim Kardashian’s career took off with the leak of a sex tape. From the start of her celebrity, she has accepted all forms of bad press, embarrassments, and even failures, using negativity to propel her forward.
Some of Kardashian’s failures have been monetizable: Despite being perceived as the poster person of superficial beauty, her “ugly crying” face became a meme and led to a line of custom emojis. Failing the California Baby Bar exam contributed inspiration to brother-in-law Scott Disick’s “KIM IS MY LAWYER” apparel.
Some of Kardashian’s failures have led to meaningful pivots: The original name for Skims was “Kimono”. After consumers showed concern that this name was racially insensitive and appropriative, she scrapped it. “Skims” was the product of going back to the drawing board.
Some of Kardashian’s failures are just that: failures. As someone who idolizes Kardashain now because of all of the ways she is brilliant, I can’t help but cringe at some of these late 2000s-early 2010s ventures. But while I am busy cringing, Kardashian continues to work. Looking back at her career, it is so clear that she has treated each failure as a stepping stone. She will not be outworked, nor bogged down when things don’t go as planned. Whatever failure might mean to an entrepreneur or investor, we should all follow Kardashian’s example: take errors in stride, pivot gracefully, adapt when we learn we are wrong, and come back stronger on the other side.
