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"lamad kris" Discussed on Squawk Pod
"Gas. Kim Do I ask you under with me. Live mad at me been pretty tough on me. That's why I brought you the Kooky. Ah Is a good that I'm not make up your mind. I like it okay. Could you do next on Squawk Pot. The matriarch of the Kardashian Empire Kris Jenner. Keep try to keep up with her. Andrew is anyway. Does she know why mom Lamad Kris. Jenner calls into squawk box and joe gets an official introduction that conversation and Andrews thoughts on the Kardashian Jenner Empire. You get the sense insecure watching you know keeping up with the Kardashians that this family is partying but trust me. There's no way that that could actually be true. Given all of the work that they're doing exclusively podcast back after this either. I think. Welcome back to squawk way play. Finally the interview you've been waiting for Kris Jenner me. Eric and mom manager or monitor behind behind the Kardashian Jenner Empire that empire has a combined six hundred million followers on instagram and on Monday billionaire. Youngster Kylie Jenner owner brought in six hundred million dollars in a deal to sell a majority stake in her cosmetics company to cody a publicly traded beauty brand and a conversation. We had it just for this podcast. I asked Andrew all about it. You have spent some time with this family. What are your takeaways about? The KARDASHIAN Jenner Empire are and the people behind it you know. I think that the family as a family business is vastly underappreciated and it's evident clearly in the one point two billion dollar valuation valuation that was just given to Kylie's business but these are remarkable women who are tremendous entrepreneurs who are. I was surprisingly really disciplined. That was the thing that I came away with. Just how much thought goes into the strategy of the various businesses into the marketing into literally early the the the details of what image. They're going to post on instagram. And the timing of that image and who they want to do business with and who they don't want to do do business with them and these people are working twenty four seven You know you get the sense. If you're watching you know keeping up with the Kardashians that this family is partying but trust trust me. There's no way that that could actually be true. Given all of the work that they're doing and the social media piece of all of this. You mentioned how deliberate they are with their posts and who they choose to partner with. Is this kind of template for the next generation of billionaires or millionaires. Even we'll see you know I put a. I put the question to Kim. Actually a couple weeks ago at deal book about whether the family could have the dominance that they do today if they didn't have the original linear TV piece of the entertainment show a fragmented media world in a social media world. Could've you created this today. I I think there was some magic of US starting on TV and really building up an audience and then the magic of timing of being around at the same time that social media was created. I think there was just like a a hit with the TV and then a hit with social media. And I think the jury is a little bit out on that. I think the power of TV and when this family sort of came up in terms of the timing was really quite crucial I think both component of TV and then married with the social media pieces. What really gave them this sort of national national if not global resonance I think today it actually much more difficult much more complicated having said that you know the funny thing is Kim was telling me that that you know Kylie was gonNA ensure this new product tomorrow she would do it strictly on social media? She wouldn't even think about LINEAR TV. Whereas Kim said you know if she he was doing something she would go on Falun and she would go on all these other? TV shows and try to really promote In addition to the social media P.. So I think there's a generational divide to to how they approach it and demographics that they sell so that's the that's the other thing I mean this family. If you really think about all of the daughters they they it's completely segmented. They captured different Demo for each group. And in that way while to some degree they all compete with each other They've all managed managed and really Kris. Jenner has done this remarkably to actually be able to all stay in lanes and be able to develop grow businesses that way. Chris hinted that she spoke with Kim. About this In the future of skims and all of Kim's products is this the beginning of something way bigger. I would not be surprised. Not so much to see the entire empire consolidate but to see the family partner with classic traditional private equity and other kinds of larger publicly traded businesses to actually scale these companies. Because these fancy you know this family has taken them Pretty far on their own but to get to sort of escape velocity may ultimately need more capital and I could see more partnerships like this. Here's thank you and Kris Jenner on squawk box joining us right now exclusive interview and her squawk box debut is Kris Jenner. CEO of Jenner Communications. Chris Thank thank you for calling in this morning. Thank you good morning and waking up early. So it's funny because you're not talk last week or maybe even right before we talked on stage you had said something big might be coming. I imagine this is it. You would made some references to private equity so tell us how did this. How did this deal come to pass? How did it happen? Well you know we Yesterday was a really big deal for day for Kylie and our team of Kylie cosmetics and truly a moment for our family family to be proud at. You know it's Kinda crystallization of all of our work but also a moment to just look forward to be really excited about the future and I think the goal is to just keep building Kylie's existing beauty business into a global powerhouse brand. That's the vision and we. We decided to partner with cody because they share the same vision that we do in building this into a huge thing. And it's you know we dream big and and this. There's something were so excited about. How much of this was about building the business? Meaning what you thought cody could do to increase the scale and scope of this globally. And how much of this is a little bit of taking some money off the table. I know that you're still going to own a colleague on a huge percentage of the business right well that was really important to Kylie because this is her baby and this is her dream and it wasn't about just you know building something we've been in business just a few years and so oh proud of what she's built and she's so excited about the partnership but at the same time you know. This is her dream is to build this beauty. You Know Empire Fire and just go into many categories that she hasn't even scratched the surface you know. She launched skin this year. And she's really excited about that. And that's been a huge wjr success for her and and look forward to working with cody to develop more categories and going into other areas of the beauty business and that's very area exciting and she feels like this is where she belongs. This is where her passion is and she really wants to use her creative side to develop her her her brand and this is what she wants to do for the rest of her life. She talks about it all the time. Twenty years from now she sees herself doing this and maybe passing it down to her daughter joke and I just thought of a of just sort of a philosophical question a lot of people that come billionaires ars. Let's say or or become incredibly wealthy. They become reclusive. And I'm just wondering. Would there ever come a time. Where the card actions would become not a media family not not someone that has a reality? TV Show but just purely business people and just run the business business and just stay out of the public eye. And just I mean could you see that or is it a media pieces so integral I mean it is integral someday it might not be as integral so is it integral to the business or do you just like being out there. Well I think that you know we enjoy what we're doing. We have a very successful television television show. And almost two hundred countries around the world and that really does Expand you know the global reach for us for sure but we really enjoy what we're doing and we've been doing it now for over a decade. We're about to start shooting season. Nineteen in a couple of months and we're finishing up eighteen now and it's what we do. We love working together as a family and I think that we enjoy so much all the creative the things we do.