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The billionaire Jenner sister’s net worth just grew by $600 million.
According to TMZ, Kylie Jenner is selling a majority stake of her cosmetics company, Kylie Cosmetics to Coty Inc. The global beauty company valued Kylie Cosmetics at $1.2 billion, and offered up $600 million for a 51 percent share.
Kylie released a statement explaining that she will still remain the face of the brand and still have creative control of product creations, while Coty will handle marketing on a global scale. “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,” Jenner said.
Coty also has partnerships with big beauty brands such as CoverGirl, MaxFactor, and Clairol. The company is hoping to revive itself through Jenner’s profitable brand after losing half it’s value since 2016. Well dang Kylie, looks like she may just make Forbes list again this year…cha ching!