Kylie Jenner has sold Kylie Cosmetics for a whopping $600 Million
Kylie Jenner has made a lot of money this week. Coty Inc announced this week that they will be buying a majority share in Kylie Cosmetics, taking a 51 per cent stake in the business, for $600 million (Dhs2.2 billion)
The parent company behind CoverGirl, Rimmel, Bourjois, Max Factor and many more beauty brands is investing in a “long-term strategic partnership” with reality star Kylie Jenner’s four-year-old beauty business.
Coty Inc plans to launch more products under the brand and sell them in more countries around the world. The deal is expected to be completed early next year.
"This new partnership between Kylie and Coty is an exciting step in Coty's renewed emphasis on its beauty business," the multinational beauty company says in a statement. "Kylie is a modern-day icon, with an incredible sense of the beauty consumer, and we believe in the high potential of building a global beauty brand together."
At 22 years, Forbes recently called Jenner the "youngest self-made billionaire".