Thursday, 12 December 2019

Kylie Jenner Sells Majority Stake In Her Company

LONDON: The self-made Billionaire and reality star will sell 51% of her stake in Kylie Cosmetics to Coty Inc. (COTY), a New York-based cosmetics company that also owns a number of international consumer beauty brands, including CoverGirl. The partnership will help Kylie’s brand expand globally and enter new beauty categories, the two companies said in a press release Monday, November 18, 2019.

 

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But Kylie and her team will continue to handle her creative and communication efforts as she’s one of the most-followed people on social media.

 

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“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,” Jenner said.

 

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getaway 💗✨☀️

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The cosmetics brand has generated roughly $177 million in revenue over the past year, according to Coty. The deal is expected to close in the third quarter of 2020.

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