Kylie Jenner is now $600 million richer. The 22-year-old Keeping Up with the Kardashians star announced that she sold off a 51% stake in Kylie Cosmetics to beauty conglomerate Coty on Nov. 18. With Kylie Cosmetics valued at nearly $1.2 billion, Ky has gotten paid. However, just because she’s no longer the controlling shareholder of the brand bearing her name, don’t think that she’s out of the game. Kylie did not sell the majority of her company because she wants to step back, but rather because she sees this as an incredible opportunity to help grow her cosmetics and skin line even further than before.”
She decided to team up with Coty in order to continue growing her empire. Kylie is super excited about this next phase of her brand, and she looks forward to seeing where it goes next. Coty said it would head up the strategic expansion of the brand into new markets as well as beauty categories. Kylie will continue to lead product and communication initiatives.
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