Kylie Jenner Is Keeping up With Her Cosmetics Line for the Sweetest Reason
Momager Kris Jenner explained it all.
When news of Kylie Jenner selling part of her cosmetics empire to beauty giant Coty Inc. made the rounds, everyone assumed it was just part of the plan. Jenner created her eponymous line and now, she was cashing in. That may not be the case if Kris Jenner's latest comments ring true. In a new interview, the Kardashian matriarch explained that Jenner's keeping full creative control of her company and that she hopes that maybe, one day, she can pass it on to her daughter, Stormi Webster.
On Monday, Coty announced that it would pay a whopping $600 million for a 51% majority stake in Kylie Cosmetics. Later, Kris appeared on CNBC to talk about the transaction and elaborate on how much involvement Kylie would maintain. According to Kris, her daughter is in it for the long haul and is genuinely excited about growing her brand beyond Lip Kits and skincare.
"She feels like this is where she belongs, this is where her passion is, since she really wants to use her creative side to develop her brand," Kris told CNBC. "And this is what she wants to do for rest of her life. She talks about it all the time. Twenty years from now, she sees herself doing this and maybe passing it down to her daughter."
E! News notes that the agreement between Kylie and Coty ensures that Kylie and her team will "continue to lead all creative efforts in terms of product and communications initiatives." A partnership with Coty affords Kylie the ability to grow even more and expand her reach.
"She's so excited about the partnership, but at the same time, this is her dream to build this beauty empire and just go into many categories that she hasn't even scratched the surface," Kris added. "You know, she launched [Kylie] Skin this year and she's really excited about that and that's been a huge success for her, and looks forward to working with Coty to develop more categories and going into other areas of the beauty business and that's very exciting."
Kris also mentioned that Kylie's business plan could be inspiring her sisters. Kim Kardashian, who recently introduced her own brand of shapewear, SKIMS, could follow in her little sister's footsteps and sell part of her company, too, if things work out.
"I think that if they do grow the business and they're able to sell something and keep having a hand in it," Kris explained. "That's kind of the ideal situation."
But Kris insists that profit isn't the only thing driving her entrepreneurial spawn. The proud mom says that her kids are genuinely interested in everything that they're doing.
"I think that the focus for the kids isn't always about growing it just to sell it," she said. "I think that they really are so passionate about what they're doing."