Less than a year since becoming America’s youngest self-made billionaire thanks to Kylie Cosmetics, Kylie Jenner has decided to sell her empire – more precisely half of her empire to the “big man”. Coty. Coty is one of the most popular cosmetic companies in the US, owning a series of famous brands such as Bourjois, CoverGirl, OPI, Sally Hansen, Max Factor, etc.
Kylie sold half of her Kylie Cosmetics empire to the big man in the cosmetics village, going home with the Bourjois brand – Photo 1.
Kylie Jenner has just sold a 51% stake in Kylie Cosmetics to Coty, the US company that currently owns a series of popular cosmetic brands such as Bourjois, CoverGirl, OPI, etc.
Specifically, Kylie sold 51% shares of Kylie Cosmetics to Coty for $ 600 million ~ VND 13.9 trillion and kept the remaining shares. As such, Coty will take control of Kylie Cosmetics financially while Kylie Jenner herself still “takes control” of the product creation segment.
Kylie sold half of her Kylie Cosmetics empire to the big man in the cosmetics village, going home with the Bourjois brand – Photo 2.
Selling her empire, but Kylie Jenner still takes control in terms of product creation.
“I’m extremely excited to be partnering with Coty to be able to continue bringing Kylie Cosmetics and Kylie Skin products to more customers. I will continue to be responsible for creating new collections and This handshake allows me and my team to focus on creating and developing our products while still building a strong brand.” – Kylie Jenner share about the historic deal with Coty.
Kylie Jenner’s share has somewhat reassured fans of Kylie Cosmetics, who are very confused about the fate of their favorite brand. Because Kylie still has full control over product creation, people don’t have to worry that Kylie Cosmetics will be “replaced” and become a stranger. In a word, this deal creates an opportunity for Kylie Jenner to focus 100% on creating quality brainchild without having to worry about running the company.
Information about Kylie Cosmetics being sold to Coty was revealed just one day before the Kylie Cosmetics Holiday 2019 Collection officially hit the shelves. This special collection includes 11 products with vibrant red Christmas packaging. Each item in this collection is priced at no more than 1.1 million USD while the total price for a set of 11 products is 7.4 million VND.