The youngest of the Jenner sisters, Kylie, has produced her fortune because she founded the company Kylie Cosmetics. Although her company has not managed to expand with stores around the world, its products are purchased on its website and have managed to acquire great publicity that makes them sell like hot cakes; That is why it turns out to be a very attractive company for other franchises.
Apparently, Kylie has already taken the next step to make her products available to everyone, accepted an offer, and sold 51 percent of the shares of her successful company to Coty Inc. A company dedicated to the beauty industry. It manages brands like Miu Miu and Burberry.
Kylie won’t say goodbye totally to her company
The businesswoman sold her shares for 600 million dollars, but according to a statement issued by Coty Inc. in the contract, it was established that this company would be responsible for the overall management of the brand, while Jenner will continue to handle creative decisions and communications of the company.
This collaboration will allow me and my team to remain focused on the creation and development of each product while leading the brand to be a leading international beauty company, Kylie said.
Expect it to have more expansion
So far, Kylie only sells her products online and in pop up stores, which limits its market, so she hopes that with the entry of the new company, its industry will expand in every corner of the planet. Peter Harf, chairman of the board of Coty Inc., stated:
Kylie is an icon of current fashion, with an incredible sense to understand the beauty consumer, and we believe in the great potential of building a global beauty brand together.
More and more millions for Jenner
So far, its annual earnings are around 360 million dollars, but with this new deal, the company created by Kylie is expected to have an approximate value of 1.2 billion dollars.
A couple of weeks ago, Kylie Jenner announced her Christmas collection, which offers a kit of lipsticks, shadows, eyeliner, and blush, in addition to her new line of skincare called Kylie Skin. Kylie was definitely born to succeed in the world of makeup and business.