Kylie Jenner

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Kylie Jenner Sells A Majority Of Her Cosmetics Company

Kylie Jenner sold 51% of her company to Coty for $600 Million

November 18, 2019

Kylie Jenner is looking at a huge payday after selling 51% of her company to cosmetics company Coty for $600 million. 

Jenner has owned 100 percent of the company since it launched in 2015 when they began selling lipstick kits that sold out within minutes. Over the last 12 months, Kylie Cosmetics had an estimated $177 million in net revenues.

Coty, which owns brands Covergirl, OPI, Rimmel, GHD and Clairo, said it’s looking to expand Jenner’s distribution into more retailers in the U.S. and international markets. They also plan on breaking Kylie Cosmetics into the fragrance category. 

Coty’s Chief Creative Officer, Pierre Laubiuessaid everyone at Coty is looking forward to work with Kylie Jenner.

“We are pleased to welcome Kylie into our organization and family. 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 and will leverage our core strengths around fragrances, cosmetics, and skincare, allowing Kylie’s brands to reach their full potential.”

A press release said Kylie Jenner and her team wouldcontinue to lead all creative efforts of product development and communication initiatives. The deal will be finalized in the third quarter of 2020. 

Via: People