Ka-ching!

Earlier this year, Kylie Jenner made headlines by becoming the world’s youngest billionaire, and now she is $600 million richer. This comes after the news that the reality TV star is selling majority shares in Kylie Cosmetics and Kylie Skin.

Beauty conglomerate Coty just obtained 51% of the shares of the highly successful Kylie Cosmetics and the recently launched Kylie Skin. This $600 million deal with the cosmetics giants gave Kylie’s company a new valuation of $1.2 billion. As of 2018, Coty owns around 77 beauty brands, ranging from Consumer beauty like Max Factor, Professional beauty like Wella and Luxury brands like Wella.

 

 

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At only 22-years-old Kylie has managed to dominated the beauty world. Say what you may about her self-made billionaire title, but you can’t admit that the youngest of the Kardashian-Jenner clan is business savvy. Four years ago, the Keeping Up With The Kardashians star took a lip-kit and turned it into a billion dollar empire. According to Forbes, Kylie Cosmetics managed to bring in $360 million in sales in 2018.

 

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Through this deal, Kylie will be able to turn her brand into an “international beauty powerhouse”. Before this, Kylie Cosmetics, which employs seven full-time and five part-time employees, was available only online, with a few U.S based pop-up shops. However, Kylie’s products can now be found in Ulta Beauty stores, but with the help of Coty it will be sold worldwide, and hopefully soon in the UAE!

The chairman of Coty’s board refereed to young mother as a “modern-day icon, with an incredible sense of the beauty consumer”. It is hard to deny Kylie’s online presence, as she has around 151 million Instagram followers. Not only that, but in 2018, the reality star reduced Snapchat’s stock market value by $1.3 billion when she tweeted that she does not use the app anymore.

 

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This deal is set to be completed in 2020 and will hopefully starting bringing Kylie’s products to markets outside the US.

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