Kylie Jenner Sells Majority Ownership of 'Kylie Cosmetics' for $600 Million
If you thought the 22-year-old billionaire makeup mogul couldn't possibly make anymore money, think again!
Kylie Cosmetics, valued at $1.2 Billion, is no longer in majority control by Miss Jenner herself. Kylie just made a HUGE deal with Coty -- the beauty conglomerate behind CoverGirl, Clairol, Rimmel, Adidas, and many more. She reportedly sold 51% (majority stake) of her cosmetics company for a cool $600 million.
In a joint statement from Coty and Kylie Jenner, it is said that while Coty will handle many of the financials, Jenner will still have a huge role and say in the company. She will be leading all creative efforts and communications initiatives. Essentially, they'll be using her MASSIVE social media following to sell, sell, sell!
With hopes to become a more global beauty powerhouse brand, Jenner is excited for the future of her company!
Kylie also launches her highly-anticipated holiday collection tomorrow, Nov. 19th! https://www.kyliecosmetics.com/