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Kylie Jenner Sells MAJORITY Stake In Cosmetics Empire For $600 Million

kylie jenner coty inc business

The rich keep getting richer!!

On Monday morning, it was announced Kylie Jenner and Coty Inc. have entered into a long-term partnership, with Coty purchasing a 51% majority stake of the $1.2 billion cosmetics empire for a cool $600 million.

Related: Billionaire Kylie Jenner Makes $1.2 Million Per Instagram Post!

In a statement, the parent company (who is responsible for brands including OPI, Rimmel London, Sally Hansen, and more) shared:

“This new partnership between Kylie and Coty is an exciting step in Coty’s renewed emphasis on its beauty business. Kylie is a modern-day icon, with an incredible sense of the beauty consumer, and we believe in the high potential of building a global beauty brand together.”

So, what does this partnership really mean? The backing by the company will allow the empire which the Keeping Up with the Kardashians star has been building since November 2015 to get even bigger.

As you’re likely aware, Miz Jenner landed the title of youngest self-made billionaire by Forbes this year, which garnered a significant amount of controversy, but her brand has continued to grow nonetheless, most recently expanding into Kylie Skin.

The statement continued:

“Coty will have overall responsibility for the portfolio’s development, leveraging its global knowledge and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise, as well as its deep understanding of the fragrances, cosmetics and skincare categories. In addition to its responsibilities within the partnership, Coty will act as a licensee for skincare, fragrances, and nail products.”

AKA, we’ll likely be seeing Kylie Fragrance and Kylie Nail!

But don’t worry, lip kit addicts! Ky won’t be stepping too far away from her biz. Stormi Webster‘s momma commented:

“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.”

Rumors of this sale have been brewing for the past several months, so the news doesn’t come as a massive surprise to those keeping up with Kylie. The mogul has already filed for trademarks of her daughter’s name, as well as Stormiworld and Kylie Baby, so we’re sure this isn’t the first major biz move she’ll make. Congrats, girl!!

What do U think about this, Perezcious readers? Sound OFF (below) in the comments with your take!!

[Image via Kylie Jenner/Instagram.]

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Nov 18, 2019 08:29am PDT