Some discovery in the shareholder lawsuits against this makeup company are going to open the eyes of the world to this reality family.

It is mind blowing.

Coty and Seed Beauty LLC

Kylie Jenner

Kardashians

Kylie Jenner Beauty taps new CEO amid sales decline

The rapid-fire reshuffling at the top of Kylie Jenner’s cosmetic company continued this week with what appears to be the company’s fourth new honcho in less than two years.

Coty on Wednesday said it’s tapped Andrew Stanleick — Coty’s executive vice president of the Americas since 2017 — to head up Kylie Jenner Beauty Brands.

Stanleick will also oversee Coty’s 20 percent stake in big sister Kim Kardashian West’s beauty business, which Coty secured last year for $200 million. The cosmetic company behind CoverGirl and OPI brands bought a majority stake in Jenner’s brand of make-up and skincare products in 2019 for $600 million.

Wednesday’s move bumped Jenner’s mom, Kris Jenner, from the role of interim CEO of Kylie Cosmetic and Kylie Skin.

Coty says Jenner — whose family rose to fame with hit reality TV show “Keeping Up with the Kardashians” — took on the role of interim CEO in April 2020.

That’s where things start getting confusing.

In January 2020, Coty named Christoph Honnefelder, a former executive with European specialty retailer Douglas, as CEO of Kylie Cosmetics. But Honnefelder never officially joined the company. And by June, Coty said it had tapped Simona Cattaneo, head of the beauty company’s luxury brands, to oversee Kylie Cosmetics’ global expansion.

Cattaneo, who recently announced she would be stepping down from Coty after five years to pursue other interests, was given the expanded role following explosive reports claiming that the unit’s then 22-year-old founder had allegedly been lying about her sales in a desperate attempt to be named a billionaire.

Jenner has denied the reports, but Coty was still slapped with shareholder lawsuits alleging that it overpaid for its 51 percent stake in the beauty business, which was valued at $1.2 billion at the time.

Kylie Jenner has also been sued by California-based Seed Beauty LLC, the private-label manufacturer that used to make and distribute Kylie Cosmetics products. It has alleged that Jenner’s company shared trade secrets with Coty. – Source

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