Kylie Jenner sells 51% of Kylie Cosmetics
by: Natalie Gard
Kylie Jenner, the self-made billionaire, and previous* owner of Kylie Cosmetics and Kylie Skin has now sold more than half of the business that made her that billion. She had been the sole owner of her of make-up and skin care brand, but that all changed yesterday. She sold 51% of her business to Coty who owns Covergirl. They paid $600 million for 51% of Kylie’s Company, which means the whole company is worth $1.2 billion. Coty wants to expand the company and start selling it in other countries and Kylie seems to be excited about the sellout. Kylie says, “I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world.”
Coty expects the deal to be done and new products on the shelves within the year.