Entertainment

Kylie Jenner to sell stakes in her cosmetic line for $600 million

Published

4 years ago

November 19, 2019

Kylie Jenner is set to sell a major stake in her popular cosmetics line for a mouth-watering sum of $600 million.

The youngest self-made Billionaire and reality star will sell 51% of her stake in Kylie Cosmetics to Coty Inc. (COTY), a New York-based cosmetics company that also owns a number of international consumer beauty brands, including CoverGirl.

The partnership will help Kylie’s brand expand globally and enter new beauty categories, the two companies said in a press release Monday, November 18, 2019.

Kylie, being one of the most-followed people on social media will still continue to handle her creative and communication efforts with her team..

The cosmetics brand has generated roughly $177 million in revenue over the past year, according to Coty. The deal is expected to close in the third quarter of 2020.

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Diadem Akhabue

I love to read, write and TRAVEL!!! The media space is my canvas to paint the truths of our brands and the stories of our Nigerian culture. I love a good book any day because with them I can travel to spaces that are perfect in their frame.