Kylie Jenner Sells 51% of Stake in Beauty Business for $600 Million

Wall Street Journal is reporting that Coty Inc. has just paid a whopping $600 million to control 51% stake in Kylie Jenner’s cosmetics startup. And this intervention in the celebrity’s brand can revive a struggling beauty business based on CoverGirl and MaxFactor.

The report continued”

The fragrance and cosmetics company said it plans to buy 51% of Kylie Cosmetics, valuing it at $1.2 billion. Ms. Jenner, the youngest of the five Kardashian-Jenner sisters, founded the brand in 2015. She will remain the public face of the brand, which will be renamed Kylie Beauty.

This comes months after Kylie was declared a self-made billionaire.

Congratulations to her!

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