Fashion

Coty acquires 51 percent ownership of Kylie Jenner cosmetics


Coty acquires 51 percent ownership of Kylie Jenner cosmetics

Coty and Kylie Jenner today announced a long-term strategic
partnership that involves Coty becoming a majority stakeholder in
Jenner’s beauty business. One of the world’s largest beauty companies
with a global portfolio, Coty will acquire 51 percent of the Jenner
partnership for 600 million dollars.

Through the partnership, Jenner and Coty plan to further develop
the existing business into a global powerhouse brand through a focus
on global expansion and entering into new beauty categories. Each
party will leverage its unique strengths to meet these goals. For
example, Jenner and her team will continue to lead all creative
efforts as far as product and communications strategies, while Coty
will handle responsibility for the portfolio’s development, leveraging
its global knowledge in manufacturing, distribution, commercial and
go-to-market expertise.

“Combining Kylie’s creative vision and unparalleled consumer
interest with Coty’s expertise and leadership in prestige beauty
products is an exciting next step in our transformation and will
leverage our core strengths around fragrances, cosmetics and skincare,
allowing Kylie’s brands to reach their full potential,” Pierre
Laubies, Coty’s chief executive officer, said in a statement.

Coty’s acquisition is expected to close in the third quarter of
fiscal year 2020. All of Jenner’s beauty categories will continue to
be sold through leading luxury beauty retailers as well as owned
digital channels.

“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. “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.”

Picture: Kylie Cosmetics Facebook



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