Hyderabad: Beauty giant Coty bought majority share (51%) of Kylie Cosmetics, owned by 22-year-old social media influencer and businesswoman Kylie Jenner, for $600 million. The youngest of the Kardashian-Jenner family will remain the face of the brand, which will be rebranded to Kylie Beauty. Sources say the 22-year-old will sell both Kylie Cosmetics as well as Kylie Skin for £463 million, while Coty values Kylie Cosmetics at $1.2 billion
The chairman of Coty called Kylie “a modern-day icon, with an incredible sense of the beauty consumer”. Coty Inc. is a global beauty company involved in making cosmetics, skin, fragrance and hair brand. Coty said Kylie Cosmetics had estimated net revenue of $177 million over the past 12 months. According to Forbes, Kylie made $360 million in sales in 2018.
The highest earner of the Kardashian-Jenner family, Kylie said she wants to build the brand into an international beauty powerhouse. Kylie Cosmetics is a big beauty brand, but Coty has a financial advantage, which makes the deal more secured.
View this post on Instagram We’re ready to start an exciting new journey… And we couldn’t be more thrilled to see where it will take us, together. Welcome to Coty, @kyliejenner! 🦋 @kyliecosmetics @kylieskin #Partnership #KylieBeauty #CotyPride To learn more, click the link in bio 👆A post shared by Coty Inc. (@cotyinc) on Nov 19, 2019 at 12:20am PST
We’re ready to start an exciting new journey… And we couldn’t be more thrilled to see where it will take us, together. Welcome to Coty, @kyliejenner! 🦋 @kyliecosmetics @kylieskin #Partnership #KylieBeauty #CotyPride To learn more, click the link in bio 👆
A post shared by Coty Inc. (@cotyinc) on Nov 19, 2019 at 12:20am PST
Amidst this, the young billionaire never fails to impress her fans with various collections that never go wrong. The 22-year-old will be launching yet another collection called Holiday’19 Collection for which fans were excited. The new release will be launched on November 19, 2019, at 3 pm (Pacific Standard Time). It includes Holiday Palette, High Gloss Trio, Eye shadow palette, Setting spray, Holiday Minis, Brush set. It also includes other products like Eye toppers, Naughty list (lipstick and lip liner), Highlighter & Blush Duo, and Holiday Lipsticks, which make the perfect gift for the Holiday.
The young billionaire took to Instagram on Friday to advertise and unveil her holiday collection. The first product that she unveiled was the Naughty Lip kit — a deep red matte lip kit —then unveiled the gloss trio and the four-piece brush set. She also revealed six new liquid lipsticks minis all having their unique names.
She then revealed her new bright red liquid liner, two cream lipsticks, blush and highlighter duo and the others.
The collection will be released on the Kylie Cosmetics site on 19 November 2019 at 3 pm (pst).