Kylie Jenner Sells Majority Stake Of Magnificence Enterprise To Coty

Rumours about Kylie Jenner promoting her cosmetics empire have been swirling for years and early this morning each Coty and Kylie Cosmetics confirmed Coty has agreed to pay $600 million for a majority stake in Kylie Cosmetics.

In line with an organization assertion as reported by Bloomberg the make-up and perfume big may have total accountability for the portfolio, whereas Jenner, a part of the Kardashian clan, will lead artistic efforts and communications, the businesses mentioned Monday in a press release. The deal values Kylie Cosmetics, which Jenner, 22, began in 2015 as a line of lip kits when she was nonetheless an adolescent, at about $1.2 billion.

Followers of the model shouldn’t fear an excessive amount of in regards to the sale as Jenner will nonetheless play a significant function and proceed to be the face of the model.