Kylie Jenner has found incredible success in the beauty world over the past few years, having founded Kylie Cosmetics in 2015. But on Tuesday night, the Keeping Up with the Kardashians star sold her majority stake in the beauty brand for £400million to cosmetic giant Coty – who also own Max Factor, Rimmel and OPI. Coty bought a 51 per cent share in Kylie's business, which includes Kylie Cosmetics and Kylie Skin, and have big plans to expand it around the world. The deal is expected to close next year, but Kylie will still be the face of the brand, and will also have creative input into the development on new products.
Kylie Jenner has sold over half of her share of Kylie Cosmetics
Watch the Kardashian chilldren's story
As a result of Kylie Cosmetics, Kim Kardashian's sister became the world's youngest self-made billionaire back in 2018, as Forbes reported that she had made £195million in sales that year. So why has Kylie sold such a huge stake? Cosmetify.com's Digital Brand Manager Isa Lavahun has had her say. "Now worth a whopping $1.2 billion, it feels like Kylie has done all she can to grow the business alone. Her current international reach is limited and global expansion seems like the smartest next move to make - enter Coty. As fans outside the US don’t have easy access to Kylie Cosmetics, Coty can bring in their resources, suppliers and contacts to build the business globally, turning it into the next L'Oréal or Estee Lauder. This is a bold but exciting move for Kylie, most likely to be a good one."
The Keeping Up with the Kardashians star's beauty empire has gone from strength to strength
The young businesswoman will no doubt enjoy having more time to spend with her one-year-old daughter Stormi, too. The toddler currently has her own nursery in Kylie's head office, and is regularly seen going to meetings with her mum. The little girl is already showing an interest in makeup, just like her mum, and was recently captured on camera playing with Kylie's lipsticks.
Kylie is very involved in her business, and tries to give back to others when she can too. The reality star made one of her fan's dreams come true back in September after surprising them at their hotel and taking them around the Kylie Cosmetics headquarters. She met Ashley Almonte, who was chosen as a deserving winner by Kylie and Ellen DeGeneres, after they heard that she had given up university to work so that she could help support her mum, who worked at an underprivileged school and used her own funds towards it. Kylie sat down with Ashley and heard about her heartwarming story, before surprising her further by revealing that her mum was also at the studios, along with Kris Jenner.
Ashley's mum then got her own surprise when some of the people she works with at the school sent her a message via a video link, which was played on Kylie's laptop. Touched by just how close Ashley was to her mum and relating to her own relationship with Kris, Kylie shocked them with £195,000 to go towards the school as well as themselves. Kylie told Ashley that she could now go back to university, while her mum told her: "There are guardian angels out there."
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