Kris Jenner talks Kardashian family’s most significant business deal at WWD Summit

Kardashian family matriarch and “momager” Kris Jenner is certainly doing something right.

Ten years after the debut of “Keeping Up With the Kardashians,” a newly inked deal ensures the hit reality show will remain on E! for another five seasons in a multimillion-dollar renewal deal. After 20-year-old Kylie Jenner launched her wildly popular signature Lip Kits, Jenner helped her daughter found Kylie Cosmetics — which made $420 million in retail sales over the first 18 months.

A lot can be credited to social media, which Jenner discussed during a conversation with Tommy Hilfiger on Tuesday at WWD’s Apparel & Retail CEO Summit at the Pierre in New York. “The whole marketing budget [my children] need is the price of a smartphone,” said Jenner, whose family has over 750 million collective followers across social media platforms. “Social media became the single most important thing that we had as a tool to be able to build and grow a business.”

Still, when WWD’s Bridget Foley sat down with honoree Karl Lagerfeld later in the evening at the second WWD Honors, Foley revealed what Jenner considered to be her most significant business deal.

“Your old friend Tommy Hilfiger had a conversation with Kris Jenner this morning,” Foley recapped to Lagerfeld from the stage before an elegant dinner. “And my colleagues asked Kris, if there was one deal that crystallized for her the success of the Kardashian-Jenner family in business, [what would it be]? And Kris said, ‘When Kendall walked the Chanel show.'”

RELATED: Here's a look at Kris Jenner through the years: 

31 PHOTOS
Kris Jenner
See Gallery
Kris Jenner
HOLLYWOOD, CA - JANUARY 26: TV Peronality Kris Jenner on Hollywood Today LIVE, the nationally syndicated daytime entertainment talk and variety show. She revealed the secret to managing the careers of her six famous kids and how she went from mom to 'momager'. on January 26, 2016 in Hollywood, California. (Photo by Tommaso Boddi/Getty Images for Hollywood Today Live)
CENTURY CITY, CA - DECEMBER 10: Kris Jenner attends Pioneer Awards Honoring Terry Semel on December 10, 1990 at the Century Plaza Hotel in Century City, California. (Photo by Ron Galella, Ltd./WireImage)
DUNN'S RIVER, JAMAICA - SEPTEMBER 29: Kris Jenner and Bruce Jenner attend Dunn's River Celebrity Sports Invitational on September 29, 1993 at the Sandals Resort in Dunn's River, Jamaica. (Photo by Ron Galella, Ltd./WireImage)
LOS ANGELES - AUGUST 28: Kris Jenner attends the '56th Annual LA Area Emmy Awards ' at the Academy of Television Arts and Sciences August 28, 2004 in Los Angeles, California. (Photo by Mark Mainz/Getty Images)
CULVER CITY, CA - MARCH 21: Kris Jenner attends Mercedes Benz Fashion Week held at Smashbox Studios on March 21, 2007 in Culver City, California. (Photo by Mark Davis/Getty Images)

LOS ANGELES, CA - OCTOBER 28: TV personality Kris Jenner attends the signing for 'In The Kitchen With Kris.'

Credit: Chelsea Lauren via Getty Images

WESTLAKE VILLAGE, CA- OCTOBER 25: TV personality Kris Jenner signs copies of her new book 'In The Kitchen With Kris.'

(Photo by Jeffrey Mayer/WireImage)

RIDGEWOOD, NJ - OCTOBER 21: Kris Jenner signs copies of her cookbook 'In the Kitchen With Kris' at Bookends Bookstore on October 21, 2014 in Ridgewood, New Jersey. (Photo by Michael N. Todaro/WireImage)
NEW YORK, NY - OCTOBER 20: Kris Jenner attends Angel Ball 2014 hosted by Gabrielle's Angel Foundation at Cipriani Wall Street on October 20, 2014 in New York City. (Photo by Dimitrios Kambouris/Getty Images for Gabrielle's Angel Foundation)
LOS ANGELES, CA - OCTOBER 17: Kris Jenner is seen on October 17, 2014 in Los Angeles, California. (Photo by Bauer-Griffin/GC Images)
LOS ANGELES, CA - OCTOBER 09: Television personality Kris Jenner attends Charlotte Tilbury's 'Make-up Your Destiny' beauty festival at Nordstrom at the Grove on October 9, 2014 in Los Angeles, California. (Photo by Imeh Akpanudosen/Getty Images)
LOS ANGELES, CA - OCTOBER 09: TV personalities Kim Kardashian and Kris Jenner attend 'Charlotte Tilbury arrives in America: VIP Beauty Launch Event' presented by Nordstrom at The Grove on October 9, 2014 in Los Angeles, California. (Photo by Donato Sardella/Getty Images for Charlotte Tilbury/Nordstrom)
CULVER CITY, CA - OCTOBER 08: TV personality Kris Jenner attends the fifth annual PSLA Autumn Party benefiting Childrens Institute, Inc., sponsored by Saks Fifth Avenue, with fashion partner Donna Karan at 3Labs on October 8, 2014 in Culver City, California. (Photo by Angela Weiss/Getty Images)
PARIS, FRANCE - SEPTEMBER 30: (L-R) Justin Bieber, Kendall Jenner and Kris Jenner attend the CR Fashion Book Issue No.5 Launch Party hosted by Carine Roitfeld and Stephen Gan at The Peninsula Paris on September 30, 2014 in Paris, France. (Photo by Kristy Sparow/WireImage)
PARIS, FRANCE - SEPTEMBER 30: Kris Jenner arrives at the Chanel show during Paris Fashion Week, Womenswear SS 2015 on September 30, 2014 in Paris, France. (Photo by Jacopo Raule/GC Images)
PARIS, FRANCE - SEPTEMBER 28: (L-R) Kim Kardashian, Kanye West, their daughter North West, Mother of Kim Kardashian, Kris Jenner and Fashion designer Riccardo Tisci pose backstage after the Givenchy show as part of the Paris Fashion Week Womenswear Spring/Summer 2015 on September 28, 2014 in Paris, France. (Photo by Bertrand Rindoff Petroff/French Select/Getty Images)
PARIS, FRANCE - SEPTEMBER 25: Kris Jenner, Kim Kardashian and Kanye West attend the Balmain show as part of the Paris Fashion Week Womenswear Spring/Summer 2015 on September 25, 2014 in Paris, France. (Photo by Antonio de Moraes Barros Filho/WireImage)
PARIS, FRANCE - SEPTEMBER 25: Kris Jenner arrives at the 'Art District' apartments on September 25, 2014 in Paris, France. (Photo by Marc Piasecki/GC Images)
PARIS, FRANCE - SEPTEMBER 24: Giancarlo Giammetti, Kendall Jenner and Kris Jenner attend the Buro 24/7 Fashion Forward Initiative Presenting Natalia Alaverdian, Founder and Creative Director of A.W.A.K.E. at The Peninsula Hotel on September 24, 2014 in Paris, France. Event is hosted by Kim Kardashian, Miroslava Duma, and Melvin Chua. (Photo by Victor Boyko/WireImage)
LOS ANGELES, CA - SEPTEMBER 22: Kris Jenner seen at LAX on September 22, 2014 in Los Angeles, California. (Photo by GVK/Bauer-Griffin/GC Images)
BEVERLY HILLS, CA - SEPTEMBER 13: TV personality Kris Jenner attends the Brent Shapiro Foundation for Alcohol and Drug Awareness' annual 'Summer Spectacular Under The Stars' at a private residence on September 13, 2014 in Beverly Hills, California. (Photo by David Livingston/Getty Images)
NEW YORK, NY - SEPTEMBER 10: Kris Jenner is seen on September 10, 2014 in New York City. (Photo by NCP/Star Max/GC Images)
LOS ANGELES, CA - AUGUST 27: Kris Jenner and Dean Cain are seen on August 27, 2014 in Los Angeles, California. (Photo by Bauer-Griffin/GC Images)
LOS ANGELES, CA - AUGUST 06: Kris Jenner is seen in Calabasas on August 06, 2014 in Los Angeles, California. (Photo by Bauer-Griffin/GC Images)
LOS ANGELES, CA - JULY 11: Kris Jenner is seen on July 11, 2014 in Los Angeles, California. (Photo by SMXRF/Star Max/GC Images)
NEW YORK, NY - JUNE 27: Kris Jenner is seen on June 27, 2014 in New York City. (Photo by NCP/Star Max/GC Images)
NEW YORK, NY - JUNE 27: Kris Jenner and Kourtney Kardashian are seen at Khloe Kardashian 30th birthday at pier 61on June 27, 2014 in New York City. (Photo by Raymond Hall/GC Images)
NEW YORK, NY - JUNE 27: (L-R)Kris Jenner,Kendall Jenner, Kourtney Kardashian,Kylie Jenner,Kim Kardashiain on there way to Khloe Kardashian 30th birthday parte at pier 61,on June 27, 2014 in New York City. (Photo by Raymond Hall/GC Images)
TODAY -- Pictured: (l-r) Kathie Lee Gifford, Kris Jenner and Hoda Kotb appear on NBC News' 'Today' show -- (Photo by: Peter Kramer/NBC/NBC NewsWire via Getty Images)
NEW YORK, NY - JUNE 05: (EXCLUSIVE COVERAGE) TV Personality Kris Jenner, wearing a Valentino dress, visits the SiriusXM Studios on June 5, 2014 in New York City. (Photo by Astrid Stawiarz/Getty Images)
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

 

Foley went on to ask a typically awards-averse Lagerfeld — who received the night’s prestigious John B. Fairchild honor, alongside fellow honorees Moncler, the RealReal, Patagonia, and Gucci CEO Marco Bizzarri — his opinion on what’s made Chanel the consumer gold standard it is today.

“When I took over Chanel, everybody said to me, ‘Don’t touch it, it’s dead. There’s nothing you can do,'” said Lagerfeld, who’s currently the creative director of Chanel, Fendi, and his own eponymous label. “And I said to myself, ‘I love that people think that.'”

The German fashion designer, photographer, cartoon artist, interior designer, and director of short films (starring Kristen Stewart and Keira Knightley) met the late Fairchild — publisher and editor-in-chief of WWD for nearly 40 years — in Paris in the late ’50s. Lagerfeld, who loved clothes so much he changed outfits twice a day as a schoolboy but never went to fashion school, attributes his success to hard work and good instincts.

“When I was young I got no advice, and the advice I got wasn’t good,” he said. “It’s so simple: you have to know what you want, you have to ask yourself questions, and if you are honest, you know the answers.”

The legendary designer, who can’t even walk down the street these days without being recognized, proved as humble and gracious as he is humorous and pithy. “I don’t need my name on everything,” said Lagerfeld, who equates working on different labels to a musician who plays different instruments. “Fendi is Fendi, Chanel is Chanel. I don’t have to have ‘Chanel by Karl Lagerfeld,’ ‘Fendi by Karl Lagerfeld,’ no. If it’s good, people know. If it’s not good, it’s better they don’t know!”

Fortunately, it’s been plenty good, but Lagerfeld never looks back and believes his best work is still ahead of him. “Fashion is like show business today,” he explained. “[They say] you’re as good as your last show. But no, it’s your next show.”

(Pictured: Tommy Hilfiger and Kris Jenner)

Subscribe to Variety Newsletters and Email Alerts!

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.