Kylie Jenner just sold majority stake of her beauty empire for $600 million
Since becoming the youngest "self-made" billionaire with a cosmetics company last valued at $900 million, everyone wants to get their hands on Kylie Jenner's beauty empire. Now, thanks to a major deal with beauty conglomerate Coty Inc, it's about to be bigger than ever.
Coty Inc. declared on Monday that it will pay $600 million for a 51% stake in Kylie Cosmetics. Coty plans to introduce more products under the Kylie brand and distribute them in more countries around the world.
Jenner confirmed the news on Twitter this afternoon. "I can't wait for all of the amazing things to come for Kylie Skin and Kylie Cosmetics," she wrote to her 29 million followers. "I'm excited to partner with Coty Inc. to continue to expand my brands globally. This is only the beginning."
The 22-year-old beauty mogul will remain the sole owner of the opposite 49 % stake.
Now that the two brands have officially come together, it can only mean one thing for Kylie Cosmetics fans: more product launches all over the world — and what looks to be the long-awaited arrival of those rumoured nail and fragrance drops.
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