Who does not love some make-up from Kylie Jenner’s world-famous brand Kylie cosmetics? Starting with launching lipsticks and lip liner kits back in 2015, Kylie Jenner’s brand Kylie Cosmetics has gone on to become a huge name in the cosmetics market and has garnered a huge fan-base as well. Now, reports state that the youngest member of the Kardashian-Jenner clan, who has a great number of followers on social media, has sold a stake in her make-up and skincare business to Coty Inc.
In 2018, Kylie Jenner made it to the Forbes list and was declared as the youngest self-made billionaire because her cosmetics line had sales estimated to $360 million. According to reports in a section of media, Kylie Jenner has now sold a stake in her make-up and skincare businesses to one of the biggest beauty giants Coty INC. On Monday, Coty INC (COTY.N) will be paying $600 million for a majority stake in Jenner’s make-up and skincare business-owning to her reality TV star image and social media reach sending its shares up as much as 5%. Also Read: Kylie Jenner Ooze Hotness In Cutout Swimsuit; Flaunts Toned Stomach - PIC HERE
Coty will be holding a share of 51% in Kylie Jenner’s business, further valuing her company at $1.2 billion. According to Kylie Jenner, the make-up mogul feels that she will be building the brand into an international beauty powerhouse, while the chairman of Coty called the reality TV star a modern-day icon with an incredible sense of beauty consumer. Meanwhile, Coty said that the said deal is expected to close in the third quarter of the financial year 2020.
Image source: Instagram/ Kylie Jenner