It was announced this week by Coty, that they are purchasing a 51% share in Kylie Jenner’s makeup line, Kylie Cosmetics, for $600 million USD. Coty owns a number of well-established beauty and makeup brands including, Rimmel, Max Factor, Bourjois and Cover Girl, to name a few, and will now be embarking on a “long-term strategic partnership” with the Keeping Up With The Kardashians star’s beauty business which she launched in 2015.
Coty said in a statement of the new procurement, "This new partnership between Kylie and Coty is an exciting step in Coty's renewed emphasis on its beauty business. Kylie is a modern-day icon, with an incredible sense of the beauty consumer, and we believe in the high potential of building a global beauty brand together."
It has been reported that Kylie Cosmetics raked in $177 million USD in sales, proving that the brand really is lucrative with the potential for further growth. Speaking to about her partnership with Coty, Kylie Jenner said, "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."
