November 2019

Kylie Jenner Sells Majority Stake in Cosmetic Company

The entrepreneur will sell 51% of her stake for $600 million to COTY, a cosmetics company that owns several international beauty brands. The move comes as Jenner hopes to expand her cosmetics brand globally. "This partnership will allow me and my team to stay focused on ... each product while building the brand into an international beauty powerhouse." - Kylie Jenner, via press release. Jenner will stay on as a creative leader, with her team maintaining control of communication efforts. The deal is expected to be finalized in the third quarter of 2020.