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Kris Jenner celebrates ‘proud’ moment daughter Kylie Jenner sold major share of her cosmetics brand for $600 million

The devil works hard… (Picture: Getty)

Kris Jenner couldn’t help but celebrate the fact that daughter Kylie Jenner sold a huge stake of her cosmetics empire for $600 million.

The momager bursted with pride as she discussed how Kylie sold a 51% stake to beauty company Coty, which own brands like CoverGirl and Max Factor.

Speaking to CNBC’s Squawk Box, Kris spilled: ‘Yesterday was a really big day for Kylie and our team at Kylie Cosmetics,’ said the Keeping up with the Kardashian matriarch.

‘[It was] truly a moment for our family to be proud. It’s kind of a crystallisation of all our work.’

The 64-year-old insisted her make-up company is something she wants to be part of ‘for the rest of her life’, but at least now she’s $600 million richer.

‘I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That’s the vision,’ the Keeping up with the Kardashians star continued.

‘[Kylie] talks about [the business] all the time. Twenty years from now she sees herself doing this and maybe passing it down to her daughter [21-month-old Stormi]’.

Must be nice (Picture: Kylie Jenner)
The lipkits are here to stay (Picture: Axelle/Bauer-Griffin/FilmMagic)

Besides a tweet confirming the sale and an official statement, Kylie has been keeping quiet on the matter on her Instagram.

The 22-year-old tweeted: ‘I can’t wait for all of the amazing things to come for @kylieskin and @kyliecosmetics! I’m excited to partner with @cotyinc to continue to expand my brands globally.. This is only the beginning!’

She was named the world’s youngest self-made billionaire aged 21 after Kylie Cosmetics enjoyed record sales in 2018 thanks to its famous lip kits and eyeshadow palettes.

Her statement read: ‘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.

‘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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