Yahoo Finance Live anchors discuss the launch of Kim Kardashian’s latest business venture, private equity firm SKKY Partners in partnership with former Carlyle Group partner Jay Sammons and mother Kris Jenner.
JULIE HYMAN: Kim Kardashian is teaming up with former Carlyle Group partner Jay Sammons to launch a private equity firm, SKKY Partners, presumably "Sky" Partners is how it will be pronounced, I guess? And it's gonna invest in consumer and media businesses.
It's Kardashian's latest business venture. Her undergarment and apparel business Skims was recently valued at $3.2 billion. And she also recently launched a nine product skincare line. Now, all of this, by the way, is according to "The Wall Street Journal," which I think is quite interesting, Jared.
JARED BLIKRE: Yes.
JULIE HYMAN: And maybe signals the seriousness of her ambitions with this private equity venture. I mean, Sammons, for his part, is no slouch himself. He was at Carlyle.
JARED BLIKRE: Right.
JULIE HYMAN: And he-- you know, so he's a well-known quantity in the private equity world.
JARED BLIKRE: Well, I think so. And this makes a lot of sense for Kim Kardashian, if I can be so bold. Not-- this isn't my beat. I don't have any charts to present here at this particular time. But private equity, you know, these are the companies that will take public companies private. Not venture capital, that's kind of a different arm.
But interesting to see these developments. I was impressed, $3.2 billion for a business venture. Definitely three commas right there. So as far as we're taking this one, Mr. Sammons, and this is a quote from the article, "having built businesses themselves as true entrepreneurs is a very differentiated approach." All right, so we're making nice with the Kardashians. I guess that's--
JULIE HYMAN: I mean, they're are big name and we'll see what they can find that they want to take private. That's then the next question, what are gonna be the targets?
JARED BLIKRE: Yes, we know a little bit about that having been taken private ourselves--
JULIE HYMAN: Oh, yes, good point.
JARED BLIKRE: --over the last year. I sometimes forget it myself. But hey, nice to be a private company during a bear market, I'll just throw that out there as well.
JULIE HYMAN: Yes, perhaps so.