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{STREETZ MORNING TAKEOVER} Kylie Jenner Sells 51% Ownership of Kylie Cosmetics for $600 Million Dollars!

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Kylie Jenner continues holding the trophy as the youngest, richest woman in America!

 

Everyone has heard of Kylie Cosmetics, one of the biggest make-up empire in the world. The multi-billion dollar company averaging a net worth of 1.2 billion dollars. Although a billion dollars might not be enough for Ms. Jenner.

If you guys did not know, since the launch of Kylie Cosmetics in 2015, Kylie and her personal team have been the only source for marketing and branding for the make-up line. However, the celebrity has decided to shift gears from in house marketing to a broader platform that plans to take Jenner’s make-up and skin line to expansion, Kylie did not expect.

The celebrity is clearly excited about this partnership with Coty after granting them 51% ownership. Coty is the conglomerate for Clairol, CoverGirl, MaxFactor, and many more. Allegedly Kylie got 600 million dollars for sale. Coty expresses in their joint statement that, “Kylie would continue leading all creative efforts and “communications initiatives.”

This sounds like a deal that was a good investment for both parties. Kylie stated she is “excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world.”

The main goal with her new partnership is to allow her team and herself to mainly focus on the creative process of developing and producing of each product, while Coty concentrates on building an international powerhouse for Kylie Cosmetics.

It seems like Ms. Jenner is doing everything right while still keep her very expensive bag!

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