Of all the Kris Jenner siblings, Kris Jenner really dedicates her time to taking care of her billionaire daughter, Kylie Jenner, and her lucrative cosmetics business. Now, after being adamant about not wanting to sell her company, Kylie has sold a majority stake in Kylie Cosmetics to Coty.
At the ripe age of 18, Kylie Jenner started selling her cult-following lip kits. And the rest was history! As the youngest self-made billionaire in America, according to Forbes, Kylie has paved a way for herself in the cosmetics industry. Now she’s cashing in on her brand!
Coty, an American beauty company that owns brands such as Cover Girl and OPI, has bought a 51% stake in Kylie Cosmetics for $600 million, making them the majority stakeholders of her cosmetics brand. This news is showing a change of heart in Kylie, considering she brushed off selling her company during her Forbes interview in March of this year. But momager Kris Jenner was all for it!
In the interview, Kris Jenner admitted that selling their brand was “… always something that we’re willing to explore.” After landing her cosmetics brand in ULTA stores, we’re guessing it’s only up from here!
Written by Gina Conteh