Kylie Jenner sells majority stake in her cosmetics business

Kylie Jenner sells majority stake in her cosmetics business

Kylie Jenner has sold a majority stake in her cosmetics business for 600 million US dollars, about £463 million.

The 22-year-old sold 51% of Kylie Cosmetics to makeup and fragrance giant Coty Inc, in a deal which values the company at about 1.2 billion US dollars (£926 million).

Jenner was still still a teenager when she launched the business in 2015 as a line of lip kits.

According to Coty, which also owns brands including Max Factor, Rimmel and Clairol, the deal will see Jenner “lead all creative efforts in terms of product and communications initiatives”.

Coty cited Jenner’s more than 270 million social media followers across her personal and business accounts , saying she is “one of the most influential voices among beauty consumers globally”.

Jenner, who appears alongside her family on reality TV show Keeping Up With The Kardashians, said: “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.”

The move solidifies Jenner’s reputation as one of the youngest billionaires in the world.

More in this Section

Robbie Williams inspired by daughter to sing on children’s adaptationRobbie Williams inspired by daughter to sing on children’s adaptation

Edward Norton: My screen alter-ego is no traditional tough guyEdward Norton: My screen alter-ego is no traditional tough guy

Liam Payne says he has no regrets over opening up about his private lifeLiam Payne says he has no regrets over opening up about his private life

Holly Willoughby dazzles at Emma Bunton’s Christmas partyHolly Willoughby dazzles at Emma Bunton’s Christmas party


Lifestyle

This Christmas remember that there is no such thing as cheap food.Buy local: Use your LOAF

As we wait, eager and giddy, a collective shudder of agitated ardor ripples through the theatre, like a Late, Late Toyshow audience when they KNOW Ryan’s going to give them another €150 voucher. Suddenly, a voice booms from the stage. Everyone erupts, whooping and cheering. And that was just for the safety announcement.Everyman's outstanding Jack and the Beanstalk ticks all panto boxes

Every band needs a Bez. In fact, there’s a case to be made that every workplace in the country could do with the Happy Mondays’ vibes man. Somebody to jump up with a pair of maracas and shake up the energy when things begin to flag.Happy Mondays create cheery Tuesday in Cork gig

More From The Irish Examiner