When Kylie Jenner was included in Forbes Magazine’s list of billionaires no one could believe that the 22-year-old makeup mogul could be worth that much at such a young age. This 22-year-old reality star wasn’t done yet however as she recently closed a deal that should have her worth even more in the future. It seems the youngest member of the Kardashian/Jenner girls has her fair share of business acumen and this latest deal is slated to make waves in the makeup industry
While it all may have started with Kylie’s famous lip kits, the young mom has since branched out to various other makeup kits, hair extensions and now even a skincare line. No matter what Kylie tried her hand at, Kylie cosmetics was a huge hit.
It seems that makeup multinational Coty Inc (owners of such brands as Sally Hansen, Rimmel London, Max Factor, and Wella ) noticed Kylie’s rise to fame as the makeup giant recently bought a 51% stake in Kylie Cosmetics.
The sale earned Kylie a cool $600 million to add to her empire. The reality star still controls the remaining 49% of the company so she will continue to promote and work on her products. With the added clout and capital of Coty Inc, Kylie hopes to branch out even further to establish a global beauty brand. Kylie also hinted in a recent interview that she will now focus on creation and brand development.
This is a big move for the star and promises to set her up for the future. With a lot of the distribution and production now being taken over by Coty Inc, this has some important benefits for consumers. Firstly it means that the quality of Kylie Cosmetics will be maintained to the highest standard, much like Coty Incs’ other brands.
It also means that new ranges of Kylie products are soon to hit shelves en masse. And finally, it means momma Kylie will have more time to show off baby Stormi. Seems like this sale has been a win-win for everyone!