Kylie Jenner Sold Most of Kylie Cosmetics
Her beauty brand is about to get even bigger.
Since launching Kylie Cosmetics in 2015, Kylie Jenner has maintained full-ownership of her brand, and fans have been going wild for her products ever since. In 2018, the company was valued at $900 million, making Jenner the youngest self-made billionaire in the world. And now, Kylie Cosmetics is about to go worldwide.
Today, Coty Inc. announced that it acquired a 51 percent stake in the Kylie Cosmetics empire for $600 million. The beauty conglomerate owns brands such as CoverGirl, Rimmel London, GHD, and Clairol. The company also has a large designer fragrance portfolio including Marc Jacobs, Miu Miu, Gucci, and Tiffany & Co., to name a few.
The sale ups Jenner's brand's value to almost $1.2 billion.
According to a press release from the brand, Jenner and her team will still lead all creative aspects of product development and communication initiatives. The deal, which is expected to close at the end of 2020, sees Coty as being responsible for the development, expansion, and distribution into new markets. This means that Kylie Cosmetics products will eventually be available all around the world.
Coty will also act as a licensee for new skincare, fragrance, and nail products for Kylie Cosmetics. "Together, Coty and Kylie will set and lead the strategic direction of the partnership, focusing on global expansion and entry into new beauty categories," a Coty rep said in a press release.
"I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media," Jenner said in the release. "This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse.”
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Following the launch of Kylie Skin last spring, it was reported that Jenner was planning on expanding her brand with fragrance, nail products, haircare, and baby products. Now, with this Coty partnership, it looks like these rumored products will be a reality — and everyone will be able to get their hands on them.