Kylie Jenner on Track to Become a Billionaire

Ever since Kylie Jenner officially launched her cosmetics company, Kylie Cosmetics, 18 months ago, the brand has seen massive sales that have only grown in numbers. Until recently, it wasn't clear exactly how much the 20-year-old's company had been earning, but in a new interview with WWD, Jenner's mom, Kris Jenner, told the publication that her daughter's company has made $420 million in retail sales since its official launch.

The company is projected to make $386 million in 2017 and is on track to become a billion-dollar company by 2022.

Kylie initially launched her signature Lip Kits in November 2015 with three shades, officially naming her company Kylie Cosmetics in February 2016. Since then, she's launched a number of new Lip Kit shades, several new products and multiple limited-edition collections including collaborations with sisters Khloe Kardashian and Kim Kardashian West.

"In the beginning I didn't really know what my vision was," Kylie told WWD. "I didn't know if I wanted to keep my whole line the same, consistent. And then I think I realized over time that I like to switch it up, so I just wanted, that's where I kind of started creating my collections and just changing all my vials pink if I wanted to and doing fun unit cartons and just really, just having fun with the line."

The social media mogul added that she wasn't sure if people would like her products upon their initial launch.

"Launch day, I refreshed the page about a minute after we launched and everything was sold out," she said. "I thought there was a glitch at first."

Kris praised her daughters' work ethic, noting that Kylie considers her brand "her true passion."

"Kylie is hardworking, creative, focused and she has the most amazing work ethic of anybody I'd ever met in my life and she really considers this her true passion, but an honor and a huge responsibility," Kris said. "And I see that and I think, 'This is my little mogul. She's amazing.'"

Photo Credit: Instagram / @kyliecosmetics