Kylie Cosmetics Sells For $600m
Kylie Jenner the 22 year old who it seems became a make-up Mogul over night. Has once again turned the world of business up side down buy selling 51% of Kylie Cosmetics.
Kylie the youngest self made billionaire dubbed by Forbes magazine made a major business move this week by giving up a majority ownership of her brand to Coty, Coty Coty Inc. is an American multinational beauty company founded in 1904 by François Coty. With its subsidiaries, it develops, manufactures, markets, and distributes fragrances, cosmetics, skin care, nail care, and both professional and retail hair care products. Coty owns around 77 brands as of 2018 (via wiki) will take responsibility of moving the company abroad after the company has done well domestically. According to the press release Kylie will still have a leadership role in all creative efforts. She says starting a company on her own and it being so big from the beginning she never really and room for mistakes. It seems she has made another smart decision for the company.
Kylie also appeared on Ellen recently and shared her sisters views about her wealth. She says her sisters pick with her sometimes, but are all truly extremely proud. Now at an estimated worth of 1.2 billion who is to say what could be next for Kylie Jenner.