Coty Inc said on Monday it would pay $600 million for a majority stake in Kylie ...
) said on Monday it would pay $600 million for a majority stake in Kylie Jenner’s make-up and skincare businesses, as it looks to tap into the reality TV star’s huge social media reach, sending its shares up as much as 5%.
Jenner, 22, the youngest sibling of the wildly popular Kardashian-Jenner clan, a household name a decade after their reality TV show “Keeping up with the Kardashians” became a smash hit, started her make up line with lipstick and lip liner kits in 2015. Celebrities, including Jenner, are leveraging their huge social media following to launch their cosmetics and lifestyle brands and compete with established players in the market.
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