Businesswoman and celebrity Kim Kardashian invests in significantly lower-priced bottle sauces with truffle flavoring. The SKKY and Skims founder’s next step!
The first investment made by Kim Kardashian’s private equity firm is a company that produces $20 bottle-priced sauces with truffle flavoring.
She founded SKKY Partners, a business last year with a former Carlyle Group executive, and it now owns a “significant minority stake” in Truff sauces. The six-year-old company’s condiment line, which includes mayonnaise and hot sauce, has helped it become more well-known lately.
SKKY referred to Truff as a “premium flavor-enhancement brand” in a news statement on Tuesday, citing the brand’s “distinctive flavor, high-quality ingredients, new product innovation, and social following” as factors that have drawn investors to the company.
“Truff is exactly the kind of business that embodies what we were looking for when we founded SKKY — a next-generation brand with a deep, authentic connection with consumers and the potential for ongoing growth,” Kardashian said. “We’re proud to be kicking off the SKKY portfolio with this investment.”
As part of the deal, Truff’s board will now include Mark Ramadan, the co-founder and former CEO of Sir Kensington’s Condiments. He assisted in selling that company, which is best known for its upscale ketchup, to Unilever in 2017 for an estimated $140 million.
Truff’s contract with SKKY, the details of which were not made public, is anticipated to close early in the upcoming year. Neil Saunders, managing director of GlobalData Retail and retail analyst, calls SKKY’s investment a “huge vote of confidence in the business and its founders.”
A New Line
In 2022, Kardashian founded SKKY alongside 16-year Carlyle global private equity veteran Jay Sammons. But up until now, it had not made any investments and had mostly kept quiet about its goals.
SKKY stated in a press release that the company’s main goal is to find culturally relevant brands that connect deeply with their target audience on an emotional level and provide them with highly sought-after goods and services.
Kim Kardashian has more than just private equity experience in business. Her clothing and underwear company, Skims, just released a men’s range. Extending outside a female-only clientele could be a step toward the company’s IPO, but no formal announcement has been made.