Self-made youngest billionaire, Kylie Jenner has sold a 51 percent stake of her Kylie Cosmetics brand to Coty, giving up her majority ownership in the company. The sale ended up being for $600 million to Coty, which also owns brands like Covergirl, OPI, Rimmel, GHD, Clairol, Tiffany & Co. and Balenciaga among other notable beauty and fashion brands.Earlier this year, Forbes estimated Kylie Cosmetics to be worth over $900 million which propelled her to Forbes’ “youngest self-made billionaire” status.
However, Jenner will remain the public face of the brand, and it will be renamed Kylie Beauty.
The $600 million deal values Kylie’s beauty company at $1.2 billion.
“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media. “This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse,” Kylie Jenner said in a statement.
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However, Jenner will remain the public face of the brand, and it will be renamed Kylie Beauty.
The $600 million deal values Kylie’s beauty company at $1.2 billion.
“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media. “This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse,” Kylie Jenner said in a statement.
📎 The key is : Learn how to BE HAPPY BY YOURSELF FIRST. Because a human being that is happy on his/her own will never settle to be miserable with someone else. When you find happiness on your own then you will be able to spread it and share it with someone else. #jaiyeorie ... CRITIC ALSO 🖋️ spill TEA ☕ Easy on Shade 💣
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