If you’ve been a fan of ‘Kylie Cosmetics’, here’s news that should concern you(not)! After successfully selling make-up products across the globe, Kylie Jenner has now relinquished 51% stake in her company to Coty Inc. The deal was closed at a whopping $600 million and is expected to change the brand’s demographic reach and product line in the coming year.
As part of the sensational deal, the brand will be renamed from ‘Kylie Cosmetics’ to ‘Kylie Beauty’. And although Kylie will no more reserve ownership rights, she will continue to be the brand’s face for campaigns and global PR. Fans of the make-up ensemble will further get to lay hands on an expanded range of product offerings under Kylie Cosmetics and Kylie Skin and benefit for an extended distribution with more retailers.
Commenting on the association, Jenner in a statement said, “I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media,” She further added, “This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse.” Here’s hoping more success for our favorite Jenner!