Whoa—Kylie Jenner Sold a Majority Ownership of Her Beauty Brand
Kylie Jenner is 600 million dollars richer. In a move that surprised those who don’t follow the beauty industry closely, Jenner sold a majority stake of her Kylie Cosmetics empire to Coty Inc. The New York cosmetics company will own 51 percent of Jenner’s company, though both brands promise Jenner and her team will stay on to create and develop products. Coty also owns CoverGirl, Clairol, Rimmel and many other beauty brands. This new partnership, though, feels like the youngest and buzziest for the company yet.
Pierre Laubies, Coty Chief Executive Officer, said in a statement: “We are pleased to welcome Kylie into our organization and family. Combining Kylie’s creative vision and...
