Coty Inc said on Monday it would pay $600 million for a majority stake in Kylie ...
FILE PHOTO: Kylie Jenner and her daughter Stormi Webster share a moment at the premiere for the documentary"Travis Scott: Look Mom I Can Fly" in Santa Monica, California, U.S., August 27, 2019. REUTERS/Mario Anzuoni
The move comes as the cosmetics maker doubles down on its skin care and fragrance products, rolling out new luxury fragrances and lipsticks, while spending more on marketing to combat falling sales. The kits sold out within minutes of launching, an early sign of the power of her now 270 million-plus social media following, and Coty said Kylie Cosmetics had an estimated $177 million in net revenues over the past 12 months.
Jenner brought in sales of an estimated $360 million in 2018, according to Forbes, putting her on its list of self-made billionaires.
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