Your Kardashian love or your Kardashian hate is inconsequential when it comes to Kylie Cosmetics. From a business perspective, all that matters is the post mortem. When Kylie Jenner’s company received an “F” rating from the Better Business Bureau, entrepreneurs soon chimed in with business thoughts, not entertainment critiques.
Gene Marks, president of The Marks Group, expressed a surprising sympathy for Kylie Jenner. He noted that the faces of many companies, such as Jessica Alba, are often the most smeared when failure should land squarely on all partners involved.
Marks cited poor manufacturing partners, less than helpful marketing partners and others invested in the cosmetic company as potential factors in the “F” rating. His advice to Kylie and other entrepreneurs is to anticipate contingencies. In other words, accept that people will let you down.
It seems that Kylie has already applied this lesson. Her contingency plan was to follow-up. After assessing the situation, it turns out that proper paperwork was never filed or sent to the Better Business Bureau. The agency has a formula for grading which includes the number of sales in ratio to the number of complaints. When the actual numbers came in and were plugged into the formula, Kylie Cosmetics received an informal “C” to “B” grade. The reason for the lack of clarity is Kylie Cosmetic’s age. Since the company is in its first year, grades “C” and above are not officially given.
So, who is to blame? The entire team, but not necessarily the cosmetics.