Coty has purchased 51% of Kylie Cosmetics valuing Jenner's company at a whopping $1.2 billion.
Kylie Jenner just traded a major stake in her namesake beauty brand for a sweet, sweet payday. According to the Business of Fashion, Coty has purchased 51 percent of Kylie Cosmetics for $600 million, valuing Jenner's company at a whopping $1.2 billion. Jenner will remain in charge of"creative efforts and communication," per Bloomberg, but Coty will hold overall responsibility for the company.
Back in March, Forbes named Jenner the youngest self-made billionaire, a title which only makes sense if you forget she was born into extreme wealth and privilege. Now, we can make that billionaire-and-a-half. Apparently, the deal to purchase majority holdings in Kylie Cosmetics was made in all cash, which is quite the chunk of change to hand over.
Given that Jenner will remain on in a creative capacity, one can assume the brand will continue in a similar fashion. According to Bloomberg reporter Kim Bhasin, Coty aims to expand the brand's presence internationally, bringing already-successful drops — such as Jenner's recent collaboration with Balmain or widely memed money-themed collection — further outside of the United States.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Soundcheck: The 13 Best Music Releases Of The WeekThe 15 best music releases of the week are here!!!!!!
Lire la suite »
Soundcheck: The 13 Best Music Releases Of The WeekThis could fit right in on the 'Lizzie McGuire Movie' soundtrack
Lire la suite »
Soundcheck: The 13 Best Music Releases Of The WeekAUGUST 08 tapped his friends for a kickball game in New 'Good Girls' video.
Lire la suite »
The 25 Best Music Videos of the 2010sThe 25 best music videos of the 2010s, featuring solangeknowles, TierraWhack, ffflasher, kanyewest and more:
Lire la suite »
Monkey Week Spotlights Spain's Indie Music SceneMonkey Week Son Estrella Galicia 2019, a festival and conference that spotlights Spain’s independent music scene, kicks off Wednesday (Nov. 20) in Seville, Spain with 166 concerts on 14 stages. Here's what you need to know.
Lire la suite »
https://ew.comEntertainment Weekly has all the latest news about TV shows, movies, and music, as well as exclusive behind the scenes content from the entertainment industry.
Lire la suite »