Coty buys majority stake in Kylie Jenner’s cosmetics firm for $600m
Jenner will lead creative efforts and communications, Coty and Kylie Cosmetics say
18 November 2019 - 17:23
New York — Coty agreed to pay $600m (R8.84bn) for a majority stake in Kylie Jenner’s cosmetics line, the latest move by a major beauty company to acquire trendy brands that appeal to a younger clientele.
The make-up and fragrance giant will have overall responsibility for the portfolio, while Jenner, part of the Kardashian clan, will lead creative efforts and communications, the companies said Monday in a statement. The deal values Kylie Cosmetics, which Jenner started in 2015 as a line of lip kits when she was still a teenager, at about $1.2bn...
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