Kim Kardashian hires ex-Apple retail boss Angela Ahrendts for private equity firm

Actuality TV star-turned-mogul Kim Kardashian has tapped former Apple retail boss Angela Ahrendts for a key position at her personal fairness agency SKKY Companions.

Ahrendts, 63, will function senior working adviser at SKKY, which is concentrated on making investments throughout shopper merchandise, e-commerce, media and leisure, the Kardashian introduced Monday.

The “Holding Up with the Kardashians” star co-founded the agency with ex-Carlyle government Jay Sammons final fall.

“As we proceed to develop SKKY Companions and concentrate on figuring out strategic funding alternatives for the agency, it was the proper time to have Angela be part of us,” Kardashian mentioned in a press release on the rent.

“Angela’s wealth of management expertise and deep understanding of constructing manufacturers and influencing tradition makes her a pure match for the agency,” she added.

Ahrendts is probably finest recognized for main a serious growth of Apple’s retail retailer footprint. She was one of many most influential – and highest-paid – executives at Apple previous to her departure in 2019.

On the time, the corporate mentioned Ahrendts was leaving “for brand new private {and professional} pursuits.”

Previous to becoming a member of Apple in 2014, Ahrendts served as CEO of the posh vogue model Burberry. Throughout her reign, the corporate tripled its gross sales and skilled a fourfold improve in its inventory worth.

“I stay up for bringing my experience to the crew, together with my expertise working with artistic enterprise leaders, as we spend money on nice shopper corporations and proceed to construct an incredible agency,” Ahrendts mentioned.

In its announcement, SKKY mentioned that Ahrendts “will work hand in hand with Kardashian, Sammons and the remainder of the SKKY crew to establish and consider potential funding alternatives whereas serving as a useful resource for the businesses SKKY invests in and, extra broadly, will deliver her experience to SKKY to assist assist the agency’s investments within the subsequent era of shopper manufacturers.”

Other than her position on the Kardashian-led funding agency, Ahrendts serves on the board for Ralph Lauren Company, Airbnb and WPP.

SKKY Companions has but to make its first funding, although Kardashian told the Wall Street Journal that it has “narrowed the pool all the way down to manufacturers that [it] actually believes have superb progress potential.”

Kardashian’s mom, Kris Jenner, can be a senior working adviser at SKKY.

SKKY Companions is only one a part of Kardashian’s budding enterprise empire. The mogul’s shapewear model Skims was valued at $4 billion as of July.

Kardashian is Skims’ largest particular person investor, with a 35% stake. Her general internet value is a whopping $1.7 billion, in response to Forbes.