Kylie Jenner Sold Her Kylie Cosmetics Majority For $600 Million
Kylie Cosmetics and Kylie Skin fans are about to see a major expansion of Kylie Jenner’s eponymous beauty brands thanks to a partnership announced on Nov. 18. Kylie Jenner and Coty have entered a partnership for a casual $600 million. Fans of the mogul shouldn’t be concerned about the new, though. The star and the beauty company’s work together is likely to result in even more Jenner-centric creations.
In a press release, Coty announced that it will acquire the majority stake (51%) in Kylie Cosmetics for $600 million. Despite the acquisiont, however, Jenner and her team will remain the leads when it comes to product development and communications. The leading factor in Jenner’s decision to partner with Coty appears to be an expansion of her brand into the international market as well as a potential extension of the Kylie name into more sections of the beauty world like fragrances and nail products.
In the release, Jenner explains the decision stating, "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."
For fans, Jenner’s decision to sell her brands likely won’t mean much more than a larger presence for the star. However, behind the scenes Coty will be working to conduct research and development, expand the brand’s presence in retailers and international spaces, and handle distribution and manufacturing.
Of the partnership, Coty CEO Pierre Laubies cites Jenner’s creativity coupled with Coty’s expertise in the luxury cosmetics world as a way to press Kylie Skin and Kylie Cosmetics even further. He says, "We are pleased to welcome Kylie into our organization and family. Combining Kylie’s creative vision and unparalleled consumer interest with Coty’s expertise and leadership in prestige beauty products is an exciting next step in our transformation and will leverage our core strengths around fragrances, cosmetics and skincare, allowing Kylie’s brands to reach their full potential."
If the name Coty sounds familiar to you, there’s likely a reason why. Yes, the company owns mega-brands like Cover Girl, Wella, GHD, and Gucci, but it’s a singular iconic product you may be recalling.
If you’re a makeup lover, you’ve likely seen everyone from your mother to your favorite YouTube beauty guru recommending the iconic Coty Airspun Powder. That powder just so happens to have been created by one of the company’s founding members, and to this day, the powder remains a top seller on Amazon.
Given the longevity and popularity of the famous loose powder and Coty’s impressive list of existing brands, Jenner and her empire certainly appear to be in good hands.
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