Source: http://www.crazydaysandnights.net

About nine months ago, I told you the reality star with the lucrative side gig wanted to sell her big money maker because things she has introduced since have all pretty much bombed.

Oh, and don’t believe the price of the sale either and don’t believe it all ends up in her pocket.

Kylie Jenner

Kylie Cosmetics

Kylie Jenner Sells Kylie Cosmetics Majority Stake To Coty For $600 Million

Rise and shine, it’s selling time.

Kylie Jenner, Forbes’ youngest-ever “self-made” billionaire, announced Monday that she sold a 51% stake in Kylie Cosmetics for the cool price of $600 million. That’s a lot of lip kits.

Jenner sold the majority share to the global beauty company Coty, which owns brands like Sally Hansen, Clairol, Covergirl, OPI and Rimmel.

The goal of the sale is to turn Kylie Cosmetics and Kylie Skin into a “global powerhouse brand,” Coty and Jenner said in a statement. That shouldn’t be tough. The deal values Kylie Cosmetics at $1.2 billion.

“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world,” Jenner said in the statement.

“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,” Jenner said. She added that “this partnership will allow me and my team to stay focused on the creation and development of each product” and expand the brand globally.

Last year, Jenner announced a major move for Kylie Cosmetics, saying her products and kits would be available at Ulta stores in late 2018. – Source

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