Kylie Jenner to make a deal of 600 million USD with Coty Inc.

Fragrance and cosmetic company Coty Inc. announced that it will purchase a 51% stake in Kylie Jenner’s beauty business - which includes Kylie Cosmetics and Kylie Skin - for $600 million.

The transaction is expected to close in the third quarter of 2020. Jenner will keep a 49% stake in Kylie Cosmetics and remain the creative lead on both product development and marketing initiatives, particularly on social media, where she has 270 million followers across platforms. 

Coty, the parent company of Covergirl and Sally Hansen, is looking to appeal to a younger demographic with the purchase.

Jenner, who became the world’s youngest self-made billionaire in March, founded her cosmetics company in 2015, at age 18, with money she earned from modeling. Thanks to her social media following, her line of $29 “lip kits” - a lip liner and lipstick - quickly took off. With minuscule overhead (as of last year, she had only seven full-time employees) and almost no marketing costs (nearly all of the marketing is done on her own social media pages), the business was likely profitable from the start.

ჩვენ გირჩევთ

John Sherman Buys Kansas City Royals For $1 Billion

The World’s Most Valuable Soccer Teams 2019

John Sherman Buys Kansas City Royals For $1 Billion

John Sherman Buys Kansas City Royals For $1 Billion

წინა სტატია

ფინანსური სტაბილურობის ანგარიში
28 ნოემბერი, 2019

შემდეგი სტატია

კაილი ჯენერი Coty Inc.-თან 600 მილიონიან გარიგებას დადებს
28 ნოემბერი, 2019
საქართველოს 100 უმსხვილესი კომპანია
რეიტინგი | ივლ, 20, 2020
ბათუმის ახალი პერსპექტივა
ბიზნესი | ივლ, 21, 2020
ყველაზე შემოსავლიანი აუდიტორული კომპანიები
რეიტინგი | ივლ, 24, 2020
Forbes Georgia in EnglishForbes WomanForbes Banker