In her recent interview with The New York Times, Ms. Kardashian West details that she owes some of her business savvy shrewdness to Lisa “Left Eye” Lopes, member of the much loved R&B ’90s girl group TLC. Kim attributes the start of her awareness around the darker sides of the industry and realm of business deals generally to Left Eye, who set the record straight when she spoke candidly about these things on VH1’s ‘Behind The Music’ show in 1999.
Kim credits a crucial moment, a scene where Left Eye reveals some of the challenges TLC had faced, including their bankruptcy. Lopes shared “This is how a group can sell 10 million records and be broke, and everyone get ready to do your math. O.K., there are 100 points on an album. TLC has seven. Every point is equal to 8 cents. All right, seven times eight is 56 cents. That means every time an album gets sold, TLC gets 56 cents. Sell 10 million records: $5.6 million. Seems like a lot of money. Well, it’s not a lot of money when the record company has spent $3 million to record your album. So, now we have 2.6 million left. Well, guess what? When you have that much money, you’re in about the 47, 48, 49 percent tax bracket, so that immediately gets deducted to $1.3 million. Then you split the rest three ways. You’ve got about $300,000 left, if that. O.K.? $300,000. I can buy a nice house with that. And what am I going to pay my bills with?”
During the interview with NY Times, Kim recalls making poor business deals such as her and her sisters’ Kardashian Kollection clothing line back in 2011, where they partnered with Sears department stores. Kim Regretfully admits that she, Kourtney and Khloe each made only 2 percent of the total earnings, having had to pay 15 percent to their agents and an additional 10 percent to their infamous manager/‘momager’, Kris Jenner. “We’d get, like, almost nothing” said Kardashian, while “they’d be flying from city to city, country to country.”
Another key proponent player in Kardashian’s booming business empire is her husband Kanye West. Kim calls him the ‘catalyst’ behind her personal and commercial growth. She speaks of how she would admire Mr. West’s restraint when it came to turning down lucrative deals and opportunities if they didn’t align with his beliefs and vision. Kim shared “When I first met him, I probably didn’t believe in that or understand that. I think I did, at one point, a Carl’s Jr. campaign and a cupcake camping and a weight loss pill or diet or something, all at the same time. And it was all very contradictory, and my whole mentality has changed now.”
Kim’s shape wear company, Skims, has taken the world by start, having reportedly made $2 million within its first few minutes of launching, though the company refuses to comment on this, they can confirm that “sales have exceeded monthly goals and projections.” Kardashians’ shapewear line does have its fair share of competitors, though it remains the only one with nine colours, exceeding the average option of 3 shades to choose from, and the biggest size range, from XXS to 5X.
Kim’s previous entrepreneurial ventures including KKW Beauty and KKW Fragrance haven’t proved to be her billion-dollar businesses, though Skims seems to be promisingly on course to becoming that billion-dollar brand. Kim acknowledges that this time round she has more responsibility and control over every domain behind the company’s workings. “It’s really fun for me, and I never get frustrated.” It is “the most confident that I am in any project”, she notes.
Left Eye & ’90s nostalgia & appreciation pics! image slideshow: