Source: http://www.crazydaysandnights.net

Lets see if the magazine that names the wealthiest does a little napkin math and realizes that the reality star with the lucrative side gig is nowhere close to being a billionaire even if the value of the company is correct, which it isn’t.

The good news is a lot of this goes from private to public in the next quarterly report.

Forbes

Kylie Jenner

Billionaire Kylie Jenner To Cash In On Her Cosmetics Line With $600 Million Sale To Coty

Fragrance and cosmetic company Coty Inc. announced today that it will purchase a 51% stake in Kylie Jenner’s beauty business—which includes Kylie Cosmetics and Kylie Skin—for $600 million. The deal values the business at nearly $1.2 billion— and it confirms Kylie Jenner as a billionaire.

The transaction is expected to close in the third quarter of 2020. Jenner will keep a 49% stake in Kylie Cosmetics and remain the creative lead on both product development and marketing initiatives, particularly on social media, where she has 270 million followers across platforms.

Coty, the parent company of Covergirl and Sally Hansen, is looking to appeal to a younger demographic with the purchase, Coty’s CFO Pierre-André Terisse said on a call with analysts Monday morning. Kylie Cosmetics is the second-most-followed brand on Instagram, which means Coty will be joining the ranks of social-media-friendly beauty lines like Anastasia Beverly Hills and Glossier that have become popular—and reached sky-high valuations—over the past few years. – Source

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