Major beauty company Coty Inc. is set to acquire a majority stake in trendy brand Kylie Cosmetics, which is valued at about $1.2 billion.
Coty Inc. agreed to pay $600 million for a majority stake in Kylie Jenner’s cosmetics line, the latest move by a major beauty company to acquire trendy brands that appeal to a younger clientele.
Coty shares rose as much as 2.6% to $12.22 in New York. They had already soared 82% this year through Friday.
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