The Kardashians Killed the Kard

The Kardashian sisters have found some sense. After criticism from financial experts and Attorney General Blumenthal (CT) that the Kard was a trap for teens to enter financial ruin, the Kardashians killed the Kard. According to Blake Ellis (report here) from Cnnmoney.com:

"On Monday, the Kardashian family's attorney sent a notice of termination to the banks and licensing companies responsible for the card, saying the 'negative spotlight...threatens everything for which they have worked.'"

The good news is the Kardashians are done with the venture. The bad news : (1) The little reward for the risk may have been the reason; according to Ellis, only 250 Kards were purchased (2) the sisters were willing to risk their reputation to cash in on charging kids when they decided to back the venture a month ago. According to Ellis, the card could be and was marketed for teens as young as 13. It was almost $100 just to own, not including repetitive fees for transactions which are free under a bank issued debit card.

The worse part about the card was having the lavish and rich Kardashians backing it as if to say “here kids, here is the means to dress, spend like us and live our lifestyle, at the same time, having us charge you to do it so we can continue to spend lavishly”. I admit I’m coming down kind of hard on the sisters but charging adults is a little sly and doing so to kids is thievery. If the Kardashian sisters want to continue their brand, they have to think better about their decisions. I am glad they made the decision to pull the card instead of continuing to back it, defend it, and sell it. In the end, the sisters are not stupid but this serious business venture has left me thinking the sisters lack business savvy or at least business common sense. Unlike major corporations, they are in the public eye and known by name. They don't have a major entity to take the criticism the way a major bank does.