Kourtney & Kim Kardashian and their mother Kris Jenner announced their new retail project at a press conference at the Mirage Hotel and Casino in Las Vegas yesterday. The grand opening of the first Kardashian Khaos store will be August 21.

Annual revenue from the project is estimated to be in a range of $5 to $8 million. So THIS is how the "Keeping Up With The Kardashians" stars make all their money.

Additional global locations have been considered for their stores, including Dubai, Australia, Macau, Canada and a number of European and Asian locations. Additional expansion locations will be considered upon the opening of the flagship Kardashian Khaos location at The Mirage.

See more photos of Kim here!