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Kylie Jenner has Sold $600 Million Stake in Kylie Cosmetics
Kylie Jenner has sold the controlling stake of Kylie Cosmetics to Coty Inc. for a whopping $600 million! Coty Inc. also houses Covergirl and OPI.

Kylie Jenner has given up her controlling stake over Kylie Cosmetics!

(Image source: Instagram/ Kylie Cosmetics)

A press release revealed that Coty Inc. purchased 51% controlling interest of the brand for $600 million. Coty Inc. controls other brands like Covergirl and OPI as well.

The press release said, “Coty Inc.and Kylie Jenner announced today that they have entered into a long-term strategic partnership in order to jointly build and further develop Kylie’s existing beauty business into a global powerhouse brand. Together, Coty and Kylie will set and lead the strategic direction of the partnership, focusing on global expansion and entry into new beauty categories. Kylie and her team will continue to lead all creative efforts in terms of product and communications initiatives, building on her unrivaled global reach capabilities through social media.”

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Kylie Jenner attends the “Rei Kawakubo/Comme des Garcons: Art Of The In-Between” Costume Institute Gala at Metropolitan Museum of Art on May 1, 2017 in NYC. (Noam Galai/FilmMagic)

Also read: Kylie Jenner Talks Sending Cease & Desist Letters Over ‘Rise and Shine’

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Coty Inc. “will have overall responsibility for the portfolio’s development, leveraging its global knowledge and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise, as well as its deep understanding of the fragrances, cosmetics and skincare categories. In addition to its responsibilities within the partnership, Coty will act as a licensee for skincare, fragrances, and nail products.”

oty Inc. “will have overall responsibility for the portfolio’s development, leveraging its global knowledge and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise, as well as its deep understanding of the fragrances, cosmetics and skincare categories. In addition to its responsibilities within the partnership, Coty will act as a licensee for skincare, fragrances, and nail products.”

Coty’s CEO Pierre Laubies said, “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.”

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Kylie Jenner attends the PrettyLittleThing x Paper Magazine – The Pretty Little Playground on April 14, 2017 in Palm Springs, California. (Photo by Jerritt Clark/Getty Images)

Jenner herself 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 sale of the controlling stake in Kylie Cosmetics will be finalized in 2020.


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