Kylie Jenner sells her stakes to International beauty brand Coty
22-year-old billionaire Kylie Jenner sold her Kylie cosmetics and Kylie Skin at 51% stake to the International beauty giant brand Coty at $600 million.
Coty calculated the deal of $1.2 billion. Announcing the partnership on Monday, the two companies said – this will help the Kylie brand expand globally and join the new category.
Kylie Jenner became the youngest self-made billionaire
In 2018, Forbes reported, Kylie earned $ 360 million from her cosmetics brand and declared her youngest self-made billionaire.
And now in 2019 Kylie Jenner aiming the global market by giving her brand control to the Coty.
The tv-personality launched her brand back in 2015 starting from lipsticks followed by skin-care and make-up products.
Kylie proudly admits that all her fortune is self-earned and not inherited.
Coty will benefit from this decision of Kylie
Not only Kylie Jenner’s brand gets international recognition but Coty will be also benefited from Kylie’s popularity.
Coty’s chairman called Kylie a “modern-day icon with an incredible sense of beauty consumer“.
Taking Kylie’s stakes in hand Coty played a smart card, as Kylie is a great influencer, Coty will now attract her followers to itself, as Kylie cosmetics is the second most followed brand on social media. By this cooperation, Coty will also become social media-friendly.
No doubt her influencing is so powerful that when she tweeted she didn’t use the Snapchat app anymore, Snapchat stock value fallen by $1.3bn.
The deal will be finalized by 2020. In which Kylie will keep a 49% stake to herself and will be the creative lead of both product and marketing.