Kylie Jenner Sells 51% Of Kylie Cosmetics For $600M

Beauty company Coty is buying a 51% stake in Kylie Jenner’s cosmetics business for $600 million.

“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world,” Kylie Jenner said in a statement. “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, whom Forbes has described as the youngest “self-made billionaire,” will remain the face of both of her brands, Kylie Cosmetics and Kylie Skin. Jenner founded her cosmetics company in 2015, at age 18, with money she earned from modeling, she told Forbes in 2018.

Kylie Jenner will keep a 49% stake in Kylie Cosmetics and remain the creative lead on both product development and marketing initiatives, particularly on social media, where she has 270 million followers across platforms.

“Combining Kylie’s creative vision and unparalleled consumer interest with Coty’s expertise and leadership in prestige beauty products is an exciting next step in our transformation,” Coty CEO Pierre Laubies said a statement.

 

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