Kylie Jenner sold 51% of Kylie Cosmetics to Coty for… $600 million!!

All i want for XMAS is YOU 🎅🏼♥️ my Holiday ‘19 exclusive collection launches November 19th at 3pm pst only on! .. and to celebrate all domestic and international orders will get free shipping on that day only! See you there 💋

When I heard this news yesterday, I had a weird moment of something like pride for Kylie Jenner. It’s weird – four years ago, I would have said that she would turn out to be the biggest trainwreck of the Kardashian-Jenner family. But she’s arguably the most successful businesswoman of the family, and she found some way to monetize her insecurities about her looks into Kylie Cosmetics and now here we are. Kylie Jenner just sold a 51% stake in Kylie Cosmetics to Coty. Coty purchased the controlling interest for $600 million. Kylie is 22 years old. She started Kylie Cosmetics in Kris Jenner’s kitchen, when Kylie was still a teenager, living at home. Kris allowed Kylie to get plastic surgery and lip injections and Kylie wanted some way to highlight her new lips, so she started working on her own lipstick. Originally, it was supposed to be more of a boutique lipstick line. And now it’s become a company worth $1.2 billion. INSANE.

After maintaining full ownership of Kylie Cosmetics since its launch in 2015, Kylie Jenner has officially sold a majority stake in her business to beauty conglomerate Coty for $600 million. Jenner, 22, sold a 51 percent stake in Kylie Cosmetics to Coty, which owns other beauty brands including Covergirl, OPI, Rimmel, GHD and Clairol. The sale valued the company at almost $1.2 billion, Business of Fashion reports. While Jenner did sell a majority stake in Kylie Cosmetics, according to an official release, she and her team will continue to lead all creative efforts of product development and communication initiatives.

“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,” Jenner said in a release. She added: “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.”

Coty plans to capitalize on the strengths of Jenner’s digitally-native company and utilize its “high potential” to continue growing it into a global beauty powerhouse. In addition to expanding Kylie Cosmetics and Kylie Skin’s product offerings, Coty also sees potential in the fragrance category.

[From People]

Kim Kardashian and Khloe Kardashian are both doing fragrances now, but I don’t think they’ve teamed up with any major fragrance company. If Kylie does fragrances with Coty, the Coty brand will give her an amazing platform. Of course, it depends on the scent. For every J.Lo Glow, there are like three dozen also-ran celebrity fragrances which never “made it.” As for the rest of it… I mean, $600 million for 51% of the company is amazing. It really is. I’m genuinely proud of her? I’m proud of Kris Jenner too, she put so much of this together.

The perfect red matte lip ❤️ Boss babe @kyliejenner wears the Holiday ‘19 Lip Kit, Naughty List! Nov 19, 3pm pst ❄️

Photos courtesy of Instagram.

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