Kylie Jenner eventually makes herself richer by selling the majority of her cosmetics to the beauty giant Coty. Kylie Cosmetics and Kylie Skin have been in the market for quite a while. Both ladies and gents can’t just get enough of it.
According to this KarJenner sister, she wants to escalate her products to a more “international beauty powerhouse.”
How much did Kylie Jenner sell Kylie Cosmetics
Soon enough, she would be $600 million richer than today.
In 2018, Forbes reported that she had become the youngest self-made billionaire reaching up to $360 million in sales. The revenue generated $177 million.
Coty’s chairman of the board said that Kylie is a modern-day icon in terms of beauty consumerism. Kylie started launching her products in 2015 with lipsticks and developed more makeup and skincare products.
This lady may be the youngest among the famous Kardashian sisters. She is also the highest earner in the family.
Kylie had some backlashes from people because of the “self-made billionaire” title telling her that her money was from her inheritance but defended herself.
This young entrepreneur and beauty icon, has more than 150 million followers on Instagram. There’s 22 million followers from her official Kylie products account.
When is this happening?
In the third quarter of 2020, Coty will be able to own 51% of Kylie’s. Coty is a New York-based cosmetics company. They own a lot of international beauty brands like CoverGirl. This business transaction will allow her brand to spread all over the world, according to the press release on Monday.
Kylie elaborated, “This partnership will allow me and my team to stay focused on the creation of each product while building the brand into an international beauty powerhouse.”
She ensured that even though half of the stake is going to be owned by another company, Kylie Jenner ensures that she and her team will continue to work with the different creativeness and communications to their market.
This is quite obvious because of the number of followers she has in social media. Coty, on the other hand, will be in charge of the distribution, commercial, and market expertise. It will also take care of the licensing due to its global knowledge and capabilities.
Coty will be doing some turnaround for the company. It may include laying off and streamlining of the products. In 2015, they bought some P&G brands, including CoverGirl and Clairol.
It has many portfolios ranging from makeup, cosmetics, fragrances, skin and body care, hair products, and a lot more. Coty’s products and brands are sold in more than 150 countries all over the world. On the other hand, it will also try to commit to minimizing the impacts of their products on the environment.
The CEO of Coty, Pierre Laubies, announced, “This 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.”
Upon this decision, Coty increased its stock by 4% on Monday’s trading. This collaboration seemed to be getting at its best for everyone.
