22-year-old cosmetics and reality show queen Kylie Jenner has sold majority of her stake in her company Kylie Cosmetics, FOR $600 MILLION!
Kylie just sold 51 percent of her stake to Coty – the company that owns and runs brands like Covergirl, Rimmel, Clairol, amd GHD. Coty is estimated to be valued at $1.2 billion, meaning they spent half their worth on Kylie Cosmetics!
Kylie says of the partnership in a public statement: “I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media. This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse.” Let us know: WILL KYLIE COSMETICS STAY THE SAME? WILL COTY CHANGE ALL OF KYLIE’S SIGNATURE FORMULAS? DOES THIS MAKE YOU UPSET?