Kylie Jenner Sells 51% Stake In Her Cosmetics Brand For $600 Mn
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Kylie Jenner Sells 51% Stake In Her Cosmetics Brand For $600 Mn

Kylie Jenner Cosmetics- Next Big Brand
Pritish raj
Written by Pritish raj
[email protected] | Noida | Published on: November-19-2019 05:09 PM
  • Beauty products giant Coty announced on Monday an agreement to take a majority stake in the cosmetics and skincare business of Kylie Jenner, combining the popularity of Jenner’s fame with the distribution and marketing prowess of Coty.
  • Coty, whose brands include fragrances from Hugo Boss and Burberry, will pay $600 million for a 51% stake in Jenner’s business under the deal.

Beauty products giant Coty announced on Monday an agreement to take a majority stake in the cosmetics and skincare business of Kylie Jenner, combining the popularity of Jenner’s fame with the distribution and marketing prowess of Coty.

Coty, whose brands include fragrances from Hugo Boss and Burberry, will pay $600 million for a 51% stake in Jenner’s business under the deal.

Jenner, Kris Jenner’s youngest daughter, and Caitlyn Jenner, formerly known as Bruce Jenner, has over 270 million followers on social media and ranks as “one of the most prominent voices among beauty consumers worldwide,” a release from both companies said.

In “Kylie Lip Kit,” she launched the brand in 2015 and has since added eyeliners, eye shadows, blushes, and other products.

“I’m excited to partner with Coty to keep reaching even more fans around the world from Kylie Cosmetics and Kylie Skin,” Jenner said.

“This partnership will allow me and my team, while building the brand into an international beauty powerhouse, to remain focused on creating and developing every product.”

Coty CEO Pierre Laubies said the deal “will leverage our core strengths around fragrances, cosmetics, and skincare, enabling Kylie’s brands to reach their full potential.” Coty’s early trading shares rose 3.3 percent to $12.31.

Kylie Jenner, like many women of her age, is active on social media. Yet one thing that no one else has done is to create a fortune worth a billion dollars by age 21.

Jenner is the youngest person with her own business, Kylie Cosmetics, to become a billionaire, and she has to thank several other young billionaires.
“Without social media, the business would not operate at its current size,” said Conor Begley, co-founder of Tribe Dynamics brand marketing agency.

Co-founder of Instagram, Kevin Systrom, co-founder of Snapchat, Evan Spiegel, co-founder of Facebook, Mark Zuckerberg, and co-founder of Twitter, Jack Dorsey, are all under 45 billionaires.

According to Hopper HQ, a social media scheduler, each of Jenner’s Instagram posts is worth around $1 million. In addition to new product announcements or ads for lipstick, lip gloss, and eye shadow, Jenner’s posts contain family photos and mirror selfies. On Instagram, Jenner has 128 million followers, and on Twitter, Facebook, and Snapchat, many others.

Kylie Jenner Instagram handle has 141 million followers. Kylie charges $1,266,000 for one post.

About the author

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career.
Highly enthusiastic about brands and startups, he aims to be a travel content creator.

9113327413 | A-73, Hackerspace, Noida sector- 2 Noida UP 201301

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