Kim Kardashian to launch private equity firm

Billionaire mogul Kim Kardashian is launching a private equity firm, according to reports.

he 41-year-old is partnering with Jay Sammons, a former partner at Carlyle Group, to launch SKKY Partners.

The firm will focus on investing in consumer and media businesses, the Wall Street Journal (WSJ) reports, and will include consumer product sectors, hospitality, digital commerce and luxury.

Kardashian’s shapewear brand SKIMS was valued at $3.2bn in January, and she was listed as #1,645 on the Forbes’ billionaires list in April.

According to WSJ, SKKY plans to make both control and minority investments in companies.

The news comes after Kardashian appeared on the cover of Interview magazine this week, with bleached eyebrows and a bare bum.

In the cover story, Kardashian described her ex-boyfriend Pete Davidson as “a cutie” and “such a good person”. She added that she is “excited” to see what the future holds for him.

“He’s a cutie. He’s literally such a good person, they don’t really make them like him anymore. I’m excited for what he has coming up,” she said.

Kardashian also spoke about her ex-husband Kanye West and described how he helped her “arrive in high society”.

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“When I was with Kanye, and he was introducing me to a lot of people, I think that definitely got a lot of people to have a different level of respect,” she said.

Meanwhile, Kim’s sister Kourtney has been criticised for taking on a new role as “sustainability ambassador” for fast fashion retailer Boohoo.

Social media users are calling out the reality star for representing a brand that has been cited as one of the least sustainable fashion companies.

As Boohoo’s new sustainability ambassador, Kardashian will release two capsule collections that will be unveiled during New York Fashion Week on September 13.

The Poosh founder said: “When Boohoo first approached me to collaborate on a line, I was concerned about the effects of the fast fashion industry on our planet.

“Boohoo responded with excitement and a desire to incorporate sustainable practices into our line… I’m grateful for the opportunity to use my platform to drive conversations that lead to ongoing change and use my voice to share actionable tips with consumers on how we can play our own part.”

Boohoo has long been accused of promoting overconsumption and failing to engage in sustainability practices.

The brand was named alongside Missguided as two of the least sustainable fashion brands in the UK in a 2019 report published by the Environmental Audit Committee (EAC).

The EAC’s report was part of the government’s inquiry into the fast fashion industry.

Three years later, the brand’s head of quality assurance, Hannah Williamson, and product sustainability manager, Lianne Pemberton, said during a fashion conference in April this year that the company’s sustainability strategy is “in its infancy”.

Pemberton added that Boohoo is still “working towards ESG ( environmental, social and governance) and sustainable targets”.

Boohoo also faced an investigation into modern slavery at its Leicester factories after a report found that its workers were paid as little as £3.50 an hour in 2020.

Critics of Kardashian and Boohoo’s new partnership branded it “a joke” and “bulls***”.

“Kourtney Kardashian as Boohoo’s sustainability ambassador. Biggest load of b*llocks – surely even ultra fast fashion stans don’t buy this utter BS?” one person tweeted.

Another added: “Are we being punked? Adding Kourtney becoming Boohoo’s ‘sustainability ambassador’ to my running list of things that feel dystopian in 2022.”

A third said: “Is Kourtney Kardashian having a laugh?”

News of the collaboration arrived on the same day that Kourtney’s sister Kim Kardashian also touched on the subject of climate change, in a conversation with Interview magazine.

The SKIMS mogul said that while she “believes in climate change”, there is “so much to worry about on this planet and it can be really scary to live your life with anciety”.

She added: “I have super climate change-involved friends and I love learning from them. I do what I can, but you have to pick and choose what really works for you in your life… No one’s going to be 100 per cent perfect.”

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