Kylie Jenner, who was named the youngest self-made billionaire in the Forbes 2018 list, has sold a $600 million stake of Kylie Cosmetics to popular New York cosmetic brand, Coty Inc. This move by Jenner will enable her to stay on as the creative head of her brand whilst delegating marketing and advertising functions to Coty Inc. Coty Inc. owns many other subsidiary cosmetic brands such as Cover Girl. This move will enable Kylie to expand her brand around the world and make it a global presence.
"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," said Kylie Jenner in a recent statement to the press.
Kylie cosmetics had kicked off in 2015 with matte liquid lipsticks and lip liner sets which were sold out in a few hours post the launch. Since then the young sensation, Kylie, has launched multiple products sometimes collaborating with her sisters. Considering the tremendous social media presence she holds, Kylie has succeeded in expanding the business at a massive rate.