Kylie Jenner has been busy. Last month, she launched an extensive holiday collection exclusive to Ulta, including Lip Kits, ornamental minis of her hero products, 14-pan eyeshadow palettes and highlighting compacts galore. Last week, she announced another entirely separate holiday collection that will launch on Kylie Cosmetics’ website, where among the glittering, shimmering, festive red packaging, fans will find Kylie’s signature pigment-packed formulas, long-lasting finishes and limited edition product bundles. Oh, and yesterday, she sold her majority stake in her beauty brand for $600 million to cosmetics giant Coty.
Coty, who also own Max Factor, Rimmel and OPI among a roster of renowned beauty brands, bought a 51% share in Kylie’s business, which includes Kylie Cosmetics and Kylie Skin, with plans to introduce new products into more markets across the world. The deal is expected to close next year, but don’t worry – Kylie will still be the face of the brand and have creative input into product development.
Kylie founded her business in 2015 with her Lip Kits, containing long lasting liquid lipsticks with lip liners to match and used her vast social media influence to market the brand. Since then, the brand has grown from strength to strength, garnering millions of avid fans and even more in revenue. Last year, Forbes reported Kylie made $360million in sales during 2018, making her the world’s youngest self-made billionaire. Coty’s chairman Peter Harf is evidently impressed saying in a statement earlier today, “Kylie is a modern-day icon, with an incredible sense of the beauty consumer.”
Pierre Laubies, Coty Chief Executive Officer, added, “We are pleased to welcome Kylie into our organization and family. 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.”
Kylie Jenner commented, “I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world.” She also added that the partnership would “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.”
Looking for even more Kylie? Check out her best beauty looks ever, as well as her most memorable fashion moments.
