Coty is buying a controlling stake in Kylie Jenner's cosmetics company for $600m (about R8.8bn) in a bet that the youngest Kardashian sister's celebrity and social media savvy will help revive growth at its flagging beauty business.

Owned by investment company JAB Holdings, Coty will hold a 51% stake in Kylie Cosmetics once the deal closes.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now