Kylie Jenner Just Made $600 Million

Kylie Jenner Just Made $600 Million

Kylie Jenner Just Made $600 Million

Kylie Jenner just sold 51% of her Cosmetics company to American beauty giant, Coty.

Kylie Jenner just sold 51% of her Cosmetics company to American beauty giant, Coty.

Text: Paul Madley

Kylie Jenner has just sold 51 percent of her business to American multinational beauty company, Coty (the cosmetics company behind Gucci, Burberry and Miu Miu make-up lines and fragrances), and made $600 million as a result of the sale. According to Business of Fashion, Jenner’s cosmetic company has been valued at almost $1.2 billion. While Coty will possess overall control over Kylie Cosmetics, Jenner will still be leading creative efforts and communications.

This new move will help the youngest of the Kardashian/Jenner clan take over the beauty market on a global scale. Coty is a huge corporation and has the ability to manage mass distribution on an international level. Kylie Cosmetics launched in 2015 with Lip Kits, a product that sold out almost instantly. Now a worldwide success, Jenner has built the brand into an “international beauty powerhouse.” Kylie has even launched a skincare line, KylieSkin, as boss.

Back in 2018, Forbes reported that Kylie Cosmetics made $360 million in sales. Despite being the youngest of her family Kylie is the highest earner. Fans, beauty-bloggers, and make-up lovers just can’t get enough of her luxury products.

Coty’s chairman called Kylie a “modern-day icon, with an incredible sense of the beauty consumer.” Jenner has 151 million followers on Instagram, as well as 22 million on her Kylie Cosmetics IG page.

The Kylie deal is also said to mark a “key milestone” in Coty’s transformation, the company shared. This week alone, Coty shares rose as much as 4.9%. The deal is expected to be completed in early 2020.

In the meantime revisit the ad campaign that started it all.

Credits: Video courtesy of YouTube

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