Kylie Jenner is officially a billionaire.
The youngest member of the Kardashian-Jenner clan has sold a majority stake in her cosmetics company for $600 million, according to Forbes. The deal will give Coty, the publicly-traded beauty giant that owns brands like Covergirl and Max Factor, 51% ownership of Kylie Cosmetics. The magazine estimated that this means the company has an implied value of about $1.2 billion–which would make Jenner’s cut worth around $900 million.
Kylie Jenner has sold a majority stake in her beauty company for $600 million.
Kylie Jenner has sold a majority stake in her beauty company for $600 million.
Kylie Cosmetics was started in 2015 and has grown quickly to sell more than $100 million of makeup each year. The deal values the whole company at $1 billion, according to people familiar with it who spoke on condition of anonymity because they weren’t authorized to discuss details publicly.
Kylie Cosmetics was started in 2015 and has grown quickly to sell more than $100 million of makeup each year.
Kylie Jenner is a reality TV star and the youngest of the Kardashian-Jenner clan. She started Kylie Cosmetics in 2015 and it has grown quickly to sell more than $100 million of makeup each year.
Kylie Cosmetics will now be owned by the publicly-traded beauty giant Coty, which owns brands like Covergirl and Max Factor.
Coty is a publicly-traded company, which means that Kylie Cosmetics will now be owned by the beauty giant. The deal was announced in May and is expected to close later this year. In addition to Covergirl and Max Factor, Coty also owns brands like OPI Nail Lacquer and Rimmel London cosmetics.
Kylie Jenner will own 100% of Kylie Cosmetics after the deal closes; she’ll have complete control over any future decisions made about her brand, from packaging to product launches (and everything else in between).
Coty is paying $600 million to own 51% of the company, giving it an implied value of about $1.2 billion, according to Forbes’ calculations.
Coty is paying $600 million to own 51% of the company, giving it an implied value of about $1.2 billion, according to Forbes’ calculations. The remaining 49% will be owned by Jenner and her mother Kris Jenner.
Kylie Jenner has sold a majority stake in her beauty company for $600 million
The sale won’t impact Kylie Jenner directly, who owns 100% of the company’s stock.
The sale won’t impact Kylie Jenner directly, who owns 100% of the company’s stock. But it does mean that she may be less involved in day-to-day operations and strategic decisions at her company going forward.
This isn’t necessarily a bad thing: Kylie Cosmetics has expanded rapidly since its launch, and there have been some missteps along the way (like when Kylie was accused of stealing ideas from other brands). It makes sense for them to bring in someone with more experience running companies like this one; they might just need someone who can provide more guidance on how best to grow without screwing things up too much along the way.
Conclusion
Kylie Jenner is not only a celebrity who has a net worth of $1 billion, but she also has her own beauty brand. But the question is whether Kylie Jenner still a billionaire after selling 51% of her company? Well, this is an interesting question to answer because it depends on how you define what being a billionaire means. If we look at the dictionary definition of billionaire then you can find an answer for yourself. A billionaire is someone who has more than one million dollars in assets or income per year. And according to Forbes Magazine Kylie Jenner has more than $600 million dollars in cash flow every year which makes her qualify as one of them